Kikkoman, a Japanese soy sauce manufacturer wishes to enter India. Conduct a PESTLE analysis for Kikkoman in India & suggest whether Kikkoman should enter India or otherwise.
Answers
Answer:
The PESTEL analysis entails the external environment that the company needs to evaluate to ensure that its entry in the Indian market is successful. These elements are:
Political factors
In this case, the political factors that soy sauce brand Kikkoman need to understand to enter India successfully include:
The role of the Indian government in the business, democracy and democratic institutions that operate in the country, role of the local government, regulatory practices involved, and the judiciary independence aspect of India. The Indian international trade and treaties and the political governance of the country. Overall, the company must assess the overall political impacts on the success of the business.
Economic factors - On these elements, Kikkoman Soy must evaluate monetary and fiscal policies, price fluctuations, and overall work force productivity
Social factors – the company must understand the societal norms, beliefs, culture to venture into the market appropriately.
Technological Factors
This aspect focuses on the overall technological trends that the company would face when trying to venture into the market.
On the other hand, Environmental factors entails what the influence of the climatic changes. The company must understand the climate changes in the Indian market since the fluctuations inclines people to portray a specific consumption level.
Legal factors entails aspects such as the data protection laws in the country and the transparency of the Indian judicial systems and processes
Explanation:
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Concept: PESTLE stands for political, economic, social, technological, legal, and environmental factors for analysis.
Given: Kikkoman, a Japanese soy sauce manufacturer wishes to come in India for expand there business.
Find: Conduct PESTLE analysis for Kikkoman and suggest whether he should come in India or not?
Solution: According to the political factor in India, he should understand the role of the government in the business, democracy and democratic institutions that operate in the country.
According to the economic factors in India, this company must evaluate the monetary and fiscal policies, price evaluation, work productivity etc.
According to the social factor in India, the company understand the societal norms, culture, believes etc.
According to the technological factor, this aspect focuses on the overall technological trends.
According to the legal factor, this aspect means that follow all the laws related to the business.
According to the environmental factor, this aspect focus on the climate changes in the Indian market.
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