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Essay / Research Paper Abstract
This is a 4 page paper that provides an overview of foreign markets. The need to research local culture is illustrated by the example of McDonalds in India. Bibliography lists 3 sources.
Page Count:
4 pages (~225 words per page)
File: KW60_KFbiz085.doc
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cultural obstacles such as the reality that the majority of the Indian population doesnt eat beef, and that home-cooked meals are the norm moreso than restaurant dining. Paper
In todays world of business, international expansion is no longer a luxury reserved only for the richest multinational corporations. Rather, expansion into overseas markets is now all but ubiquitous, thanks
in large part to the globalized economy facilitated by relaxed trade regulations, and the advent of internet technology. Industries and markets are now so tightly competitive that many small and
medium businesses begin entering into foreign markets purely in search of a competitive advantage to set them apart from their contemporaries. Nonetheless, while the barriers to entry into overseas markets
may have changed, the logistics of achieving success in such markets have not. In order to succeed in a foreign market, one must still do considerable research into the local
culture, determine its customs and needs, and be willing to adapt ones business model in such a way that it works well with the expectations of the locals, rather than
against them. This paper will explore the expansion of McDonalds, the international fast food mega-corporation, into a challenging foreign environment: that of India, where the majority of the population is
vegetarian. The examination will highlight the need to deeply understand the cultures into which one wishes to expand operations, if one hopes to achieve success. First and foremost, in
order for McDonalds to have success in a market such as India, they must understand the market itself, and how business is done there. To begin with, restaurant dining in
India is a new and alluring custom. For the most part, individuals and families still purchase groceries and cook meals at home, but as the general quality of life enjoyed
...