Business in Bangladesh Research Paper Example | Topics and Well Written Essays - 2500 words

Business in Bangladesh - Research Paper Example Businessmen may also be faced with the problem of looking for employees who are skilled enough to do the work needed. These are just examples of what businessmen should take into consideration before even attempting to tap into a developing country. I have chosen Bangladesh as the subject developing country for this research paper. As a developing country, it may seem, on its face, that Bangladesh is not usually considered as a profitable country to do business in. However, if we were to omit the financial condition of the Bangladeshis and focus instead on the resources of the country, the situation would be different. Bangladesh is home to an abundant source of agricultural products, particularly coal and gas, as well as other raw materials such as â€Å"lime stone, silicone sand and hard rock,† all of which are used in a variety of industries. At the moment, the country is focused on the garments and textile industry, particularly in the export of cotton materials. Other ind ustries that Bangladesh is involved in include the â€Å"tea processing, paper newsprint, cement, chemical fertilizers, sugar and light engineering† (Bangladesh.com). ... The country is, at the moment, already heavily competing with other garments producers such as China, because aside from the cheap labor available, the production of garments do not require the worker to be literate, let alone with an academic degree (Bajaj). Findings In the previous paragraph, pointed out that Bangladesh is already engaged in quite a number of business industries and the country is also rich in natural and agricultural resources. What with all their resource wealth, the country would have been a developed country by now. However, this is obviously not the case because the Bangladeshis fail to utilize what they have properly. Because of the lack of technology and communication systems available, utilization of resources is indeed a challenge. This fact also triggers in an investment drought, where businessmen are afraid to invest in such a country, because they may end up spending more than what they get in return. Before embarking on a business project, businessmen have to first determine the â€Å"core competencies and strengths† of the area where they plan to do business in. To do this, there is a need for companies to seek help from government agencies and other organizations or groups in their target area so they can learn more about the people who live in the same (Engel). Indeed, a smart business move would be to first conduct a thorough study of the business location, the people who are expected to work in the company and the target consumers. In the following sections, I shall point out the factors that contribute to the business environment of a place, and how these factors affect the success of a business. Culture