Answer to Question #198399 in Management for Nand Patel

Question

Kikkoman, a Japanese soy sauce manufacture wishes to enter India. Conduct a PESTLE analysis for Kikkoman in India & suggest whether Kikkoman should enter India or otherwise.

Answer 1

The PESTLE analysis examines the exterior surroundings that the firm must assess to secure a successful entry into the Indian market. The following are elements of PESTEL.

·Political Factors-In this scenario, the political elements that Kikkoman, a soy sauce company, must comprehend to enter India successfully are as follows: The function of the Indian government in trade, democratic institutions in the nation, the function of local governments, regulatory methods involved, and India's judicial independence. The enterprise must therefore consider the political implications of its success.

·Economic aspects - Kikkoman Soy must assess financial and fiscal policies, price changes, and total workforce productivity based on these factors.

·Social factors - to enter the market effectively, the corporation must grasp cultural norms, attitudes, and customs.

·Aspects of Technology- This section focuses on the broad technology trends that the organization will encounter when entering the market.

·Ecological factors also refer to the impact of climate change. Therefore, the corporation must be aware of changing the climate in the Indian market, as variations encourage consumers to depict a certain degree of consumption.

·Legal factors include things like the state's data protection legislation and the openness of India's judicial institutions and processes.