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Unit 2 Research Paper Higher National Diploma in Hospitality Management

Introduction

Companies around the world focus on attaining their goals and objectives. This is only possible when they are able to understand the requirement of customers in effective manner. Firm is able to gain maximum profit with the type of market they focus on and the products they deliver are highly efficient to meet the satisfaction level (Miletzki and Broten, 2017). Main focus of the current report is made on selection of a country that is effective enough to establish a business. Further, it covers the national resources and factors endowments which create competitive advantage. Lastly, it also includes existing levels of Foreign Direct Investment.

General overview of the country

India is one of the world’s largest democracy as per the estimation of UN. By the end of 2028, it population will exceed China and will become the most populous nation. Further, it is the raising nuclear armed state and as an economic powerhouse. Apart from this, it has emerged as an important regional power. Moreover, it is also tracking huge environmental, economic and social problems. Further, it the home to most ancient surviving civilizations (Upadhyayula, Mutheneni and Nagalla, 2012). The rate of population is raising at an increase rate. This is effective enough to make sure that companies are able to develop a huge market in which they can get highly benefited. When any type of product is introduced, then the chances of raising the sales and profitability is high because there rate of target market that are decided by the organizations are also high and so that there are high business opportunity that prevail in the market. In addition to this, India is experiencing constant growth in its GDP along with liberalization from 1991 till date.

Political, Economic, Socio-cultural and Technological influences/benefits/ advantages

In order to scan the business opportunities that prevail in the market, analysis of certain factors are highly effective for the companies to achieve their desired goals. With this respect, below given are the factors that are included:

Political factor:

Being one of the largest democracies in the world, India runs on federal form of government. There are various type of factors due to which political environment gets influenced. These are politician’s interest, government policies, and other related ideologies of political parties (Basant and Shariff, 2010). This is the reason due to which business environment in India gets negatively affected through multivariate political factors. There are well developed taxation system and it this has helped the country to get support in developed of the societies through the pay made by people.

Economic factors:

Since the introduction to industrial reform from the year 1991 economy of India is stable. In accordance with the policy there are reduction in industrial licensing, formation of FIBP, liberalization of foreign capital, etc. all these has resulted in Indian economic environment (Singh, Singh and Tuli, 2013). It was in the year 2013 when $5.07 trillion recorded as the GDP. This rate has raised tremendously each year which shows the economic growth that has taken place.

Social factors:

These are considered to be the changes in trends that has high impact over the business operations. With this respect, the type of preferences that are made by people changes on frequent basis (Reed, Gupta and Blankenship, 2010). This is a type of opportunity that companies have as they can deliver services and products in order to make them get attracted to it. However, business is required to conduct frequent market research so that they are able to identify the opportunities that prevail in the market.

Technological factor:

There are many changes that has taken place in relation with technology. There are high growth that is identified towards use of internet. For example, people who used to make their purchases online line very few but with the advancement in technology, the rate of people who make use of the online platform has raised (Siddique, Selvanathan and Selvanathan, 2012). From this, it can be started that companies need to focus on making use of new or updated technologies so that the rate of support for customers can be raised.

National resource and factor endowments that create competitive advantage

Various type of resources are available which enable to consider the business to make sure that they are able to get benefited in positive manner. Further, the classification of resources are done on the basis of abiotic or biotic on the basis of their origin. For each of the resources, there are many of the opportunities that prevail in the market with the help of which the business can be benefited. In biometric resources, it includes some of the resources like coal, forestry, fish, oil, natural gas, etc. On the other hand, Abiotic resources includes copper, metallic minerals, Iron ore, Zinc, chromite, etc. All these mentioned resources are highly effective enough for the business to make use of it so that they are able to make their products to get completed and are made available to customers (Lundvall, Joseph and Vang, 2011). There are different type of competitive advantages that are included for India and some of them are as follows:

Availability of resources:

the rate of resources that are available for the companies is high and so it enables to make the business to consider them to focus on achieving the rate of set target effectively.

Huge target market: The rate of population is high and so that firm has better options for developing strong customer’s base. When there are huge number of target audience, then they can achieve the goals effectively and efficiently. However, there are certain set of consideration that has to be made in which Indian citizens prefer to make purchases is related when the products and services delivered at lower price (Sheets, Mubayi and Kojouharov, 2010). On the other hand, quality also matters in which there are individuals who prefer to get the services at high quality. All these are only possible when proper focus is made on determining by considering the need and requirement of customers. Proper research need to be conducted on regular basis so that all the need and requirements can be considered.

Foreign currency and exchange influences

From the findings, it is identified that Indian Rupee is getting depreciated against Dollar due to there is an imbalance identified between demand and supply in the foreign exchange market. Apart from this, dollar has also identified appreciation in international markets (North, Wallis and Weingast, 2013). When there are any type of fluctuations identified in the market and this is beneficial for NRIs when fall identified in rupee at the condition when a deal closed currency is bounces back. There are different type of norms that are followed that are helpful enough to govern NRI investment in India. Some of them are a

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