Definition of emerging markets Essay: Definition of emerging markets An emerging economy also known as EME can be defined as an economy that has low to middle per capita income. The term was first coined by Antoine W. The term is loosely defined by some countries.
First, what are emerging markets?
Emerging markets or economies are mostly freely defined, according to Luo page 5,emerging markets are those developing economies that are characterised by rapid growth, economies are changing structurally in terms of its industries, promising market but also volatile, adoption of a free market system and its regulatory framework favours economic liberalisation and also reduced bureaucracy by its government.
Mcmullen, Mauch and Donnorummo also defined emerging markets as countries that are on The emerging third world us essay scale between advanced economies or underdeveloped economies.
According to Lou some characteristics of emerging markets are, they have a weak legal system making it difficult to implement laws which brings about bribery and corruption, support from institutions that is essential for economic growth is very frail.
Emerging markets have fast economic growth which is often followed by volatilities and uncertainties like financial crisis, government policy change, emerging markets have a very high market demand and most of this demand comes from the consumers in the emerging middle class.
Emerging markets are also characterised by the first mover advantage, although due to the increased competition there is rivalry among local firms and other foreign firms.
Increased globalization has allowed for the flow of technologies and capital in emerging economies. Thus, increased global competition has lead western firms to seek opportunities in gaining competitive advantage, and emerging economies have provided various channels for exploration.
This report focuses on exploring the potentials of doing business in an Asian emerging market and also looking at key issues a company manufacturing consumer electronics will face in an Asian emerging market.
For the purpose of this report we will be looking at the potentials of doing business in an Indian emerging market and also the Indian consumer electronic industry. Giving advice to a company on what will be faced in the Indian Market.
Asian countries have shifted from the farming and agricultural days to the high tech centres. Although the Asian crisis of - affected some countries in Asia like Thailand and Indonesia but major countries like India, China, Pakistan and Vietnam where not affected by the crisis.
The crisis led to an increase in deregulation and created competition among companies. By exploring the business environment will provide a good knowledge of the market and industry. To begin with, PESTLE analysis can be used to analyse how political, economic, social, technological legal and environments can affect a firm or an organisation.
In the case of India, it is essential to know about its government and its politics as they play an important role in different areas and business as well De Rosi Since its independence, India has functioned mostly as a democracy India country profile Also India is ranked high because of its deep rooted respect for freedom of expression and media and also its democratic principle.
Inliberalisation has lead to rapid economic growth, thus bringing India closer to Western Europe, North America and they also have a strong relationship with Russia. According to India country analysis report the Indian government has been fighting terrorism since the early 's, India has accused Pakistan of supporting terrorism and also aiming at weakening India.
Even with this challenge it has not stopped the flow of foreign investment to India. Businesses need political influence also to enable them clear out matters that are related to labour problems, local taxes and other related issues affecting business De Rosi, According to Thakurta the Indian economy began to accelerate from the early 's and continued moving forward as Delhi loosened its bureaucratic controls over trade, services and industry.
In the profile, it was also stated that in the United Nations conference on trade and development UNCTAD on the world investment prospect survey toit was indicated that India is the second most preferred FDI target after China in the and According to the country report India with a look at inflation in India, it has been forecasted that inflation in India will slow down to 4.
The Indian rupee in the first half of averaged Rs The rupee is expected to strengthen in to an average of Rs This will lead to growth in the service sector. Thus, this investment will be put into the development of roads, the maritime sector and the power sector which is also known as "Sagarmala Project".
It has a population of 1. Also the life expectancy rate at birth is India has a presence of multicultural ethnic fabric and allows for the freedom to practice any religion India country analysis report According to Hofstede cultural dimensions, there is a high level of inequality of wealth and power within societies in India and also the Indian culture is a lot more open to ideas and situations that are unstructured.
According to the Indian country analysis report India has a huge scientific and managerial talent pool which is available at low cost than in the Western Europe and the United States. Thus, India has a large amount of well educated people and the country produces aboutengineer graduates every year which is twice as much as that of that of the United States Cavusgil, Ghauri and Agarwal India has observed successful tax reforms such as the value added tax VAT County analysis report India According to the report India has a sound legal framework for businesses which has brought about growth in India although there is a problem of implementing these laws which needs to be worked on.
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Corporate governance has been a key issue in most emerging markets, although India has very good corporate governance laws but there are problems of effectively implementing these laws into the system. This problem has been driven by lack of commitment by the management for transparency in business operations and also abiding by the legal framework that has been generated by government.
There are a lot of factors that can affect the competitiveness in an industry and the Porters five forces analysis will help to access the profit potentials in an industry.
The porter's five forces include level of rivalry, threat of substitute, threat of entry, buyers bargaining power and suppliers bargaining power. The market is strongly dominated by larger players and also the size of these players in the market.Essay: Definition of emerging markets An emerging economy also known as (EME) can be defined as an economy that has low to middle per capita income.
The term was first coined by Antoine W. Van Atmel of the international Finance Cooperation of the World Bank. The Emerging Third World US Essay Sample In the global perspective, the United States of America is commonly viewed as one of the most powerful and influential nation in the global society in almost aspect of living and government functions.
Exploitation of Women in the Developing World The modern world today is proud to recognize the equality that has been acknowledged between age, gender, and race. Women are beginning to be treated as equals with men, in new customs, lifestyle, society, and economy. The US is the third largest country in the world comprising an area of million square miles.
It accommodates over million people in fifty states, and being so, it remains the most populated region in the world. Emerging infectious diseases (EIDs) are the third leading cause of death in the United States and the first leading cause of death worldwide (3).
Thus, should EID's be considered an oncoming threat to human existence or is it God's response to our unbiblical stewardship of the Earth or is it nature.
The Indian economy is the second fastest growing major economy in the world. In terms of Purchasing Power Parity, the Indian economy is the third largest in the world.
Its gross domestic product is US $ trillion. In , economist at Goldman Sachs had predicted that by the economies of the BRIC (Brazil, Russia [ ].