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2019 | Buch

Kapitel lesen Erstes Kapitel lesen

Finland–India Business Opportunities

Connecting the Swan and the Elephant

verfasst von: Prof. Ajeet N. Mathur

Verlag: Springer Singapore

Enthalten in: Springer Professional "Wirtschaft+Technik" , Springer Professional "Wirtschaft"

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Über dieses Buch

This book is about promising collaborative avenues for connecting Finland and India with value propositions for enterprises, consumers and investors worldwide. The book covers institutional and cultural differences and explains the logic of business systems, entry modes, and managerial styles in both countries. It draws on experience of successes and also failures to know what should be done differently. It would also interest policymakers that India’s challenges of planting economic orchards in patches of social desert and Finland’s struggle to preserve a social paradise against pulls and pressures of economic graveyards in Europe are both solvable with attention to complementarities and synergies.

“From his long and rich experience of working with Finnish and Indian companies and passionate research at IIM Ahmedabad in India, and Aalto University and University of Tampere in Finland, Professor Mathur has a very deep knowledge of how to do business in both countries. Every company leader who considers starting Finnish-Indian business should read this new book. This valuable book will help companies entering new markets to flourish by building robust sustainable business relations.”

- Päivi Leiwo, Chairperson Oilon Oy, Lahti, Finland

“This book is a treasure trove of knowledge explaining the business opportunities, policies, cultures, institutions, country trajectories and nuances pertaining to Finland and India. The author has worked in business, government and academia in India and abroad. He has also had a long association with Finland and is able to bring you an insider’s perspective of both countries”

- Ambassador Ashok Sharma

“The author’s deep insider experience in the two countries enables him make very sharp observations on both sides. This book will definitely help in understanding the cultural differences and making interactions and communications smoother. ”

- Iiro Rossi, Managing Director, Holiday Club Resorts, Helsinki

“This book is a delightful and important guide for those who want to do business between Finland and India. It brings you the numerous business opportunities which wait to be availed, and highlights the deep understanding of the author of the culture and institutional environment of both countries. Read this book, learn and be surprised!”

- Niina Nummela, Vice Dean, Professor of International Business, Turku School of Economics, University of Turku, Finland

“This book is a reflection of Ajeet’s penchant for deep research and ability to structure and articulate content. This book will be extremely helpful to those who want to develop Indo-Finnish business relations specifically and international business in general. Sonata is currently engaged with business in Finland”

- Srikar Reddy, Managing Director, Sonata Software Limited, Bangalore

Inhaltsverzeichnis

Frontmatter

Chapter 1. Finland and India: Unlikely Twins?

Abstract

This introductory chapter introduces the two countries, Finland and India, to the reader to familiarise the context in which business opportunities and challenges are prospected in the rest of the book. There is a discussion on the differences in endowments, societal trajectories, economic systems, industrial structures and needs and what Finland and India can provide each other. The logic of policies and value creation in both countries are discussed. The political actors are introduced, and the dimensions to be explored more deeply in later chapters are identified institutionally together with an overview of bilateral collaboration and the enormous scope for building more connections.

Ajeet N. Mathur

Chapter 2. Business Opportunities in India

Abstract

In this chapter, business opportunities in India are discussed. The analysis of opportunities is primarily prospected from the perspective of Finland and Finnish businesses. These opportunities could also be availed by firms from other countries capable of building Finland–India value chains or extending these opportunities for value constellations involving businesses in countries beyond India and Finland. There is also an exploration of how the universe of business opportunities identified may be approached together with prospects for technology transfers, trade, trade-substituting investments and product-service linkages. Modalities including modes of entry and mobilisation of resources and responses needed are also examined.

Ajeet N. Mathur

Chapter 3. Business Opportunities in Finland

Abstract

This chapter presents a schema of how business opportunities in Finland may be explored together with the identification of prospects for trade, trade-substituting investments and product-service linkages. The analysis uses the same methodology of constructing a revealed comparative advantage index as done for business opportunities in India in Chap. 2. Modalities including modes of entry and mobilisation of resources and responses are also discussed.

Ajeet N. Mathur

Chapter 4. Managing Finland–India Cultural Differences

Abstract

Managing cultural differences is an important aspect of international business. This chapter introduces the distinctive cultural nuances of Finland and India and explains cultural dimensions on which Finland and India differ. Cultural differences have implications for boundaries of tasks, time, territory, technology, sentience and understanding in designing organisations, developing leadership styles and reinforcing management policies and practices. In order that dialogues of the deaf are avoided, negotiating stances, norms, beliefs, predispositions and values cherished by Finns and Indians are also discussed.

Ajeet N. Mathur

Chapter 5. Managing Institutional Differences in Finland–India Business

Abstract

This chapter distinguishes institutional differences from cultural differences discussed in the previous Chap. 4 and introduces the important institutions in both countries in the context of enterprise formation and structuring business investments, trade and collaborations. There is discussion on taxation systems, labour markets, capital markets, community laws, and liquidation procedures. The Finnish Code-Law-based justice system and India’s Common-Law-based justice system are different from each other. The Chapter also familiarises the reader with public systems in the two countries and how that may affect the structuring of investments and risks associated with prosecuting and defending legal actions.

Ajeet N. Mathur

Chapter 6. Bridges for Finland–India Business

Abstract

This chapter introduces questions of interest to business enterprises and policy-makers in the context of building bridges for structuring Finland–India business. The bridges and modalities are asymmetric because of the cultural and institutional differences discussed in previous Chaps. 4 and 5. There are also differences on other dimensions such as planning processes, stakeholder involvement, competition policies, ease of doing business, nature of contracts, trust in public–private partnerships, and the scope for statal and parastatal involvement in private business in the two countries. Four gateways are discussed in this chapter B2C (business to consumers), B2B (business to business), B2G (business to government), and G2G (government to government). The chapter also notes Finnish companies that already do business in India and Indian firms that do business in Finland as exemplars who have bridged the chasms and can inspire others.

Ajeet N. Mathur

Chapter 7. Organising for Business in India

Abstract

Foreign firms have difficulty making sense of the complexities, diversity and ambiguities that they encounter in institutional interfaces in India. The crowds, the traffic, the pollution and the contradictions they need to resolve in everyday life add to the challenges. The centre-state duality in governance that affects industrial projects in India, the cultural contestations and argumentativeness that are widespread, the passive aggression, the cut-throat competitiveness and the idiosyncrasies of different groups would all be amusing if they were not also disturbing and frustrating. This chapter introduces the essentials of constitutional, legal, political, economic and social systems, organisation structures and typically Indian management styles and processes that can be exasperating to the uninitiated.

Ajeet N. Mathur

Chapter 8. Organising for Business in Finland

Abstract

The notion that business models successful in India can be tweaked and transplanted in Finland is one of the leading causes of business failures of Indian investors in Finland. Those Indian companies that have succeeded engaged in adequate preparations and approached Finland with an open mind to understand Nordic business models, with sensitivity to Finnish management systems, structures and processes and appreciate the cultural and institutional differences. Overcoming the liability of foreignness and the liability of outsidership are two key aspects of foreigners organising for doing business in Finland. This chapter introduces the reader to the business ecosystem in Finland and to the logic of the Nordic Business model for organising to do business in Finland.

Ajeet N. Mathur

Chapter 9. Future Trajectories of Finland and India

Abstract

This chapter charts out the possibilities and challenges in the future traverse of both countries—Finland and India, and how this can bring new opportunities, but also new risks and new social and political innovations. Finland and India both have their residues as well notable transitions impacting their social and economic traverse. In Finland, the demographic transition is associated with the twin burden of skill shortages alongside endemic unemployment unless employment-intensive knowledge services are leveraged for commercial uses beyond Finland. In India, the demographic dividend period would be ending and service internationalisation would hold the key to new forms of international product-service linkages. Far-reaching political, economic, social and institutional changes are likely to characterise complexities for inclusive governance, raise costs of competitiveness, and require active labour market policies for work and income creation alongside more open international economic relations in both countries.

Ajeet N. Mathur

Chapter 10. Conclusions: After the End and with New Beginnings

Abstract

Anticipations and preparedness for surprises in a dynamic environment require access to timely and relevant information as well as ready bridges where people from both sides can connect and provide support to emerging initiatives, test new ideas, share knowledge and experiences and mobilise responses in an effective cost-efficient way. This concluding chapter proposes a new institutionality for Finland–India business to provide a platform for bringing together businesses, governments and academia in the two countries: Finland and India.

Ajeet N. Mathur

Backmatter

Titel: Finland–India Business Opportunities
verfasst von: Prof. Ajeet N. Mathur
Verlag: Springer Singapore
Electronic ISBN: 978-981-10-8019-7
Print ISBN: 978-981-10-8018-0
DOI: https://doi.org/10.1007/978-981-10-8019-7