Global Management

The two BRIC countries: India and China

India

Different historical, institutional and cultural factors in emerging markets in India and the impacts of those factors in the company’s success

            India has been such an interesting country in trade throughout its long history. A number of factors have always influenced its emerging markets and these factors are historical, institutional and cultural. Historically, India started as Indus valley civilization and it significantly depended on trade (Ghosh, 1996). Private ownership of land in India is one of the motivating factors to enhance agriculture production. Cultural factors have also influenced Indian entrepreneurial activities. India is one of the countries with vast population with a variety of cultures that contribute differently as far trade is concerned.

China

Different historical, institutional and cultural factors in emerging markets in china and the impacts of those factors in the company's success

            China’s growth globally has always been based on its history. The history of china is reflected in three attitudes; national pride being one of the aspects along with a strong fear of chaos. This has always helped them to guard the security of the country. Secondly, an image of peace and defensive polity along with a well-built central government with which china has been able to defend its territory for internal development. Lastly, a unique view of interstate relations and this has always enhanced china’s relation with its neighbors (Karam, 2016). China’s growth has also been influenced by institutional factors for instance land was converted from agricultural production an urban industrial development. This as a significant factor has developed economies experiencing industrialization and globalization. Some of the cultural factors have also influenced company growth in china for instance family size and social behavior (Dumon, 2017). Chinese resolved to small families and always affect decision to be made. China also consists of a high rate of literacy implying that most of its population is educated.

How management models need to be adapted to keep companies successful in different markets.

            Due to increased globalization, companies need to adapt new management models to suit the developed level of business globally to be able to compete in the market. Companies need to restructure the environment of the organization, strengthen the mission their mission and focus on the core competencies necessary for accomplishment of the organizational mission (Tarun, Krishna & Jayant, 2005). This will help a great deal.

Implications and success factors in china and India as compared to the US markets

            However, Chinese and Indian markets are regarded as emerging economies. They normally form a collection needed for investors across the globe. These markets vary in a huge compared to the developed markets in the US. Thus, any fundamental variation of the developed market influences the emerging markets. Therefore, the US is fully a developed market as compared to the two (Beise, 2001).

References

Sobrino, S. M. (2011). What is the medium-term impact of the BRIC countries?: An investigation into the macro-economic future prospects and evaluation of trends for the BRIC economies from 2011-2050. Münich, Germany: GRIN Verlag.

Ghosh, E. S. (1996). Factors influencing the urban real estate market in India.

Karam, A. (2016). The China factor: Leveraging emerging business strategies to compete, grow, and win in the new global economy.

Beise, M. (2001). Lead Markets: Country-Specific Success Factors of the Global Diffusion of Innovations. Heidelberg: Physica-Verlag HD.

Dumon, Marvin. (2017). Top 6 Factors That Drive Investment in China.

Tarun, K. Krishna, G. &Jayant, S. (2005).Strategies that Fit Emerging Markets