Individual project 1 INDIA Globalization (1)

INDIVIDUAL PROJECT 1: INDIA Strategic Management in Dynamic Environment PROFESSOR: ALEX GIALANELLA MGMT690
As defined previously, an effective global strategy utilizes three strategies depending upon the focus to achieve proper expansion. Specifically, global strategies require the in-depth analysis of a country's market, resources, regulations, and competitive map (What is Globalization,2023). For example, upon researching potential countries for globalization, India's projected market growth, low-labor cost, small competitive map, and need for furniture due to rapid city growth, supports reasons for expansion. However, the lack of resources may cause a problem (India Furniture Market Report , 2021). Why Are Resources Important for Global Strategy Resources are assets owned under specific control that enable processes to run efficiently. Having the ability to be tangible(physical) or non-tangible (services), resources can be seen as high value for allowing companies to have additional capabilities, bringing in profits (Kunc,2019). Identification of valuable resources prior to globalization will allow a company to see what resources they need to obtain and utilize for creation of their product. By having a wide variety of resources will allow a company to have competitive advantage. However, this isn't always easy for companies to do. For example, in India, certain products require advanced licensing to complete importation. Regulations can be implemented at the exportation and importation ports (India - Import Requirements and Documentation,2022). This is especially important when trying to create product in the US, it might not be able to ship internationally due to having correct resources such as the country's raw materials. Therefore, purchase and utilization of trades internationally could result in low cost of resources and result in higher costs
of products. Lastly, the lack of resources results in the inability to produce the correct products leading to company shutdown. To expand on research on globalization in India, it is important to understand it's resources and the concerns they can cause. Resources Are a Concern for India India, a third world country contains various cities that are fast-growing. Among the cities, it is important to note that certain resources are readily available in only specific regions. Upon the various resources offered, technology and raw materials availability remain a big concern for production. India currently uses both imports and country's raw materials to produce furniture. Among the various types of woods such as teak, sandalwood, ebony, walnut, sal, red ceda; plywood remains the most used material for constructing furniture ( Wood industry in India - market size & report, 2023). In a detailed report from IKEA, about 3/4 th s of furniture exports from India were low-valued products displaying no competitiveness (Strategic roadmap for furniture sector of India, 2021 ) . Thus, the need for higher-quality wood products such as Sedr hardwood is required. Regarding high-end products additional needs for leather and satchels are required. As India continues to grow in cities, the growth of technology as a resource is also needed. Previous research supports that there is only 4g network coverage in the southern region of India, therefore the effective company must centralize within that region. This is a concern because everything will be compressed together until further building of a 4g network begins in the northern region. Having effective technology will allow the use of communication and services such as E-commerce to increase overall profits. The demand for furniture has also increased due to the readily available use of online shopping. Other limited resources involve geographical issues which could affect globalization by effecting shipping transportation. India is
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