The detailed information listed below Essay Example | Topics and Well Written Essays - 250 words

The detailed information listed below - Essay Example It was also essential to minimize family control along the value chain by hiring competent managers who understood the dynamics of international trade. The removal of family control promoted the global appeal since shareholders feel part of the organization’s decision making. The other way of enhancing cost reduction measures was through the development of quality and customer focus. This implies that the Indian firms hired technology that enabled them to produce quality goods and services for their clients. It was crucial to produce commodities that match customers’ preferences and diversity in other foreign markets. High quality production enables firms to attract customers since this eliminates competition from other local firms in the same market (Halder and Rakshit 16). The strategy of cost reduction was the viable one because it increased earnings and global presence by decreasing the operation costs. The other reason was that it enables the hiring of professionals to operate the family business, which reduced internal interferences. It is also the best strategy because it ensured the production of quality commodities to counter competition from other international firms (Halder and Rakshit