Introduction
Our team has conducted an investigation of the current economic and political situation in India to obtain information on how the country treats foreign investments and to find out about the legal business proceedings in the country. After conducting extensive research on the economic situation and the business communication aspects in India, some advantages and disadvantages of the leading business in this country have been outlined.
Therefore, the aim of the research project is to offer distinct recommendations on how the company can successfully extend its business operations to India. We are currently compiling and analyzing the data and the information for the formal report that is to be submitted on July 18. Despite some obstacles, we were able to keep pace with the planned schedule.
Work Completed
In the course of research proposal preparation, the team explored a variety of data and resources. The majority of the resources were evidence-based to ensure that the sources are credible and acute. The initial research was conducted to find out about the position of India in terms of foreign investments and their business environment. It turned out that India was dominating and was leaving China in second place in the ranking. In addition, it became clear that the American companies were affected by the strict Indian laws and were forced to leave the country without the possibility to further operate.
Regarding business ethics, it turned out that Indians freely speak English, and their business relationships are built on trust and friendly connections. One of the crucial findings was that Indian business ethics are unique in the way business partners rarely say ‘no’ even if they have no time or resources to implement the deal. Furthermore, paying attention to hierarchy is crucial. The majority of communication occurs through personal meetings and phone calls. As per research results, it was decided that it will be crucial to weigh all the advantages and disadvantages of the restrictions put by the Indian government on the foreign investors to extend the company’s coverage and proceed with investing and working in India.
Due to different expertise of our team members, we faced controversy in views and perceptions regarding the research conclusions and further proceedings; however, each of us is a professional either in accounting, finance, technologies or management and we strived for effective cooperation and applied our knowledge to achieve the best of the project outcomes. In addition, due to different scheduling, it was difficult to compile the documentation package, so it was decided to split into functional subgroups, and then a couple of general meetings were arranged.
Thus, we were able to stick to the timeline. With such a diverse range of professionals, the final report will be multi-faceted and include a range of perspectives necessary to make a final decision. The following schedule has been proposed to ensure that the team compiles the formal report in time:
Work to Be Completed
According to the research results, several topics need to be investigated. First, the team has to find out about the measures the Indian government takes to manage the existing financial crisis. Second, it is crucial to analyze how Indian customs can possibly affect doing business in this country. Third, the employment situation (Figure 1) in India should be further investigated in terms of prospective employees.
Regarding the organizational aspects, the team is planning to prepare the draft that will be reviewed by the professor. After that, the draft will be revised, and the formal report will be submitted. Then the team will rehearse together, and the actual presentation will be delivered on the July 18.