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Formal Report - CONSIDERATION TO OPEN TARGET STORES IN...

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CONSIDERATION TO OPEN TARGET STORES IN INDIA Prepared for Bob Ulrich, CEO Target Corporation Minneapolis, Minnesota Prepared by Sarah McLean March 27, 2008
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TO: Bob Ulrich FROM: Sarah McLean SUBJECT: Consideration to Open Target Stores in India DATE: March 27, 2008 In response to your request I have prepared a detailed analysis of the business and social customs of India. Based on my research I believe Target Corporation would greatly benefit from opening a chain of Target stores in India. However, due to differences in culture and the way in which business is conducted there, we will need to follow several guidelines. Within this report I have outlined three main sections to better prepare our company to begin the process of opening these stores. Those sections are “Beliefs, Ethics and Values of India,” “Indian Demographics,” and “India’s Economy.” Thank you for the opportunity to prepare this report; I look forward to beginning the expansion of our company. Attachment
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ii CONTENTS Memo of Transmittal ........................................................................ ii Introduction ...................................................................................... 1 Purpose ..................................................................................... 1 Scope ........................................................................................ 1 Methodology ............................................................................ 1 Findings ........................................................................................... 2 Beliefs, Ethics & Values .......................................................... 2 Indian Demographics ............................................................... 4 India’s Economy ...................................................................... 5 Analysis ............................................................................................. 5 Conclusion ........................................................................................ 6 Works Cited ...................................................................................... 7 List of Figures Figure 1 – Religion in India ............................................................... 3 Figure 2 – Percentage of Population Below the Poverty Line ........... 4 Figure 3 – India’s Workforce ............................................................. 5
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iii
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1 Consideration to Open Target Stores in India INTRODUCTION Purpose Making the decision to expand a business to other parts of the world is a difficult one. This report contains an analysis of certain beliefs, ethics, values, customs, habits and laws in India which may affect not only our ability to do business within the country, but also the way in which our company will be viewed. It will also lay out a plan of how to best market our company to India and be successful as a whole. Scope and Limitations Within this report there are three main sections which address the way we must handle business transactions while operating in India. It also addresses the difference in Indian customs to American customs, which will affect what products to sell and how to market them. The three main sections of this report are “Beliefs, Ethics and Values,” “Indian Demographics” and “India’s Economy.” “Beliefs, Ethics and Values” summarizes what qualities Indian people find to be most important and expands those beliefs, explaining how Indians beliefs shape their daily lives. “Indian Demographics” breaks down the country’s demographics, containing information on religion, population, gender statistics, and other details. “India’s Economy” takes a look at the general economy of India including its main enterprises. This report contains a general projected
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