Question

Choose any country, other than the United States and/or your native country and discuss the business customs, norms, culture and ethical standards (bribery, corruption, etc) of that country. This will require you to conduct secondary research. Be specific and provide examples if possible.

Answer 1

Indian country business customs, norms and ethical standards:

The business culture of india is reflected by various norms and standards followed by people. which extend to their business culture too. Thus, it is important that a person visiting the country has an idea of the business culture of India. Thus, it is important that a person visiting the country has some basic idea regarding the business ethics and customs followed here. Having a good grasp on Indian business culture will ensure that you succeed in maintaining a well-earned affinity with your business counterparts. If you are unsure of how to deal with an Indian when it comes to business, we are here to simplify the task. Read on to know about the things that are to be strictly adhered to, while forming any kind of business associations with Indians.

• The 'namaste' forms an important part of Indian etiquette and is generally used while greeting and saying good-bye. This gesture is akin to the act of genuflection in some countries and is formed by pressing the palms of both hands together (fingers up). The folded hands are placed below the chin and accompanied with a bow. However, educated Indian men and women, who are acquainted with western customs, prefer shaking hands. Moreover, while greeting any individual use his or her title (if he has any). To mark respect, you may also suffix 'ji' to the name of a person.
• A sound knowledge of India's cultural practices and business etiquettes is necessary for any trade or business venture within the country. A proper understanding of culture and business etiquette would not only demonstrate a respect for India but will also create a feel good factor amongst the prospective clients.
• In India guests are treated with utmost respect and courtesy. International travelers can expect to enjoy the Indian hospitality. At the same time culturally and as a mark of politeness, Indians have difficulty in saying no, this could be a stumbling block in negotiations and in closing contracts.
• The notion of time, time management, punctuality is still an anathema in India. It is more to do with the mindset and ingrained in the Indian culture. It would not be surprising if meetings are postponed, re scheduled, cancelled or organized at a very short notice.
• The proficiency over the English language for the average middle class is commendable. Official communication-letter faxes, emails are generally received without any hitch, but it would be prudent to cross check if the transmission has reached the receiver.
• Bureaucratic hurdles and a laidback approach to work in the government circles could result in delays in processing, overload of paperwork and a general lack of confidence in the system. Therefore immense patience is very much necessary for any business transaction in India.
• In India, Companies follow the hierarchical system and decision making is usually from the top to bottom. It could at times be time consuming, International companies show respect to this. The lack of infrastructure and inadequate supply chain management can also act as bottleneck for foreign investment.

BUSINESS CULTURE, PRACTICES & ETIQUETTE TIPS:

• India is a rapidly growing marketplace that is tipped to be one of the largest economies in the world in the near future. Ensure your business etiquette, and knowledge of their culture, is accurate to maximise your potential and avoid unnecessary awkwardness.
• Business in India can be viewed as a reflection of society; hierarchical structures pervade business and culture, with the result being that strong individuals are leaders in business and their control is unquestioned by those lower on the chain of command.
• To be successful when dealing with Indian business people, or conducting business in the country itself, it is worth considering this structure and ensuring that you are dealing with the decision makers so as to avoid prolonging the conclusion.