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Business Culture in India

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Information about Business Culture in India
Business-Finance

Published on February 8, 2009

Author: joetrichy

Source: authorstream.com

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Business Culture in India: Business Culture in India Joseph Anbarasu , Visiting Scholar, Department of Finance, Banking and Insurance Popular Indian Proverbs - Karma: Popular Indian Proverbs - Karma Conquer a man who never gives by gifts; subdue untruthful men by truthfulness; vanquish an angry man by gentleness; and overcome the evil man by goodness The most beautiful things in the universe are the starry heavens above us and the feeling of duty within us You can often find in rivers what you cannot find in oceans Objectives of your business in India: Objectives of your business in India Defining the traditional values, emerging modern business and personal practices in India Coping with prevailing cultural restrictions and weaknesses of modern Indian business and Incorporating those things in your agenda to be a successful business person in India Timings and Delays: Timings and Delays A workday is from 9 am to 5 pm Inter-business matters are dealt from 11 am to 4 pm The workweek is six days long, with Sundays off Some organization may have two days off including Saturday Punctuality is appreciated, not strictly adhered to. Better to keep your schedule enough for last-minute tinkering Delays are universal phenomena in India, rampant in Government departments Your planning should accommodate all these things when you want to do business in India The Indian Company-Family: The Indian Company-Family Hierarchy – to be respected Protocol, manners, and obligations are differing based on your position in the hierarchy The chain of command is often strictly enforced. Call your superiors “Sir”, “Madam”, or Ji , you cannot use their name at any point of time. First approach the senior-most person in an organization, even though you are delegated the work requested The Indian Company-Family: The Indian Company-Family Employees rise each time the boss enters the room My boss is always right attitude. You have no role in negotiations as a subordinate. Call your superiors “Sir”, “Madam”, or Ji , you cannot use their name at any point of time. Greetings: Greetings ‘Namaste ' – North India An act of act of genuflection in some countries Shaking hands gains momentum now To mark respect, you may also suffix ' ji ' to the name of a person. “Vanakkam”, Vanthanam , Namaskar , Salam Alekum – South India. beginning of a name the word "Sri" or " Shri " for men and " Srimati " or " Shrimati " for women. Treating Woman: Treating Woman Not advisable to handshake, an unfriendly or overfriendly attitude Nod or smile Don’t look at her eyes Seek permission before leaving In a group, greet first the eldest one in the crowd Patience: Patience Indians take their time to pronounce their decisions. Impatience is viewed as discourteous. D on't persuade him to do things faster Do not decline any food, drink or appetizer offered. What to Discuss: What to Discuss To please an Indian counterpart, discuss about family and friends Politics, Cricket and Movies are best bets Foreign businesswoman to cope with deep-rooted traditionalism Woman never invites her male counterpart for Dinner in India. Lunch better Pay the lunch bill, if required. What to Wear: What to Wear Pants and Shirts for Men kurta  and  pajama  is appropriate for cultural ceremonies Wear a lightweight suit for a more formal look, especially during winters Leather Cloths must be avoided Preferable attire for women is Sari or Salwar Short skirts and Sleeveless blouse to be avoided What to Gift: What to Gift Don't present liquors as gifts to a Muslim or a Sikh Flower is better bet Offer the gift with both hands with a polite and warm smile Don't start unwrapping it in public Mall Culture in India: Mall Culture in India The younger and older generation alike prefer buying stuff from huge malls where one not only get variety, but quality too at moderate prices. Organized retail growing at estimated 25% . whooping Rs. 1,31,804 crore has been invested in organized retailing in last 6 months alone . (Assocham) Companies like Reliance Retail have set aside Rs24,000 crore for setting up hyper marts by 2010-11 in National Capital Region; Spencer retail announced capex of Rs3000 crore for expanding its retail outlet and setting up hyper marts by 2010 Fast Food Culture in India: Fast Food Culture in India India's fast-food industry is growing by 40 percent a year a billion dollars in sales. Meanwhile, a quarter of India's population remains under-nourished—a number virtually unchanged over the past decade. A growing number of US food and beverage companies are taking advantage of the Indian government's new policy on foreign investments by opening branches in the country. These companies, which include McDonald's Corp., Pizza Hut Inc. and Kellogg USA Inc., consider India as a highly-profitable market despite the country's distinct culture. Links: Links Indian food and drink http://www.foodguideindia.com/ To business travel: www.anythingindian.com www.allindia.com www.lonelyplanet.com

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