Question

Create a hypothetical business for this class. Topic: Market entry and international entrepreneurship in DR Congo

1. Pick an Asian country. How would the most critical thing about your original post be different if you were entering that country instead of your assignment African country? Explain.

Answer 1

Here we will discuss the most critical thinking about entering into the foreign markets from Asian countries and African countries. The Asian country we are taking is India, and the African country we are taking is Nigeria.

The Asian countries are they different from the African countries the political system, economic system, the social networks are entirely different from one another as they have their customs and tradition which impacts the market.

The Indian market is a very typical market which mainly follows our traditions and customs. Therefore, it is essential to know about the standard of living for the people to start the business so that we can produce only those goods and services required by the customers. The other most important thing to note is that one should keep in mind the political system of India as the tax duty and there and many other government policies that the company has to follow while entering the Indian market. The economic plans also impact the business coming into the Indian market as India being the part of Asian countries, has to follow some of the economic policies which are specially made by the industry to get started in Asian countries such as India.

On the other hand, Nigeria is also very typical tradition country where it is essential to note the social aspect as people are more likely to have the things from the local talent they have in their market as they want to encourage the local talent in the nation so that they can reach a global level to explore more of the skills in them. The political system of Nigeria is rigorous regarding the rules and regulations to get followed; therefore, one while entering into the Nigerian market should keep in mind about following all the political policies which get made regarding the business setup in Nigeria.