Logistic Challenges When Bussineses Expand into the BRICS Market Research Paper

Logistic Challenges When Bussineses Expand into the BRICS Market - Research Paper Example This objective should be accomplished when the policies are associated to multicultural knowledge. This research paper further aims to emphasize the significance of the logistics transport system and the infrastructure to achieve economic development. Additionally, it signifies other challenges including the political instability, fewer mediums of transportation, in-advancement of IT and much more. Possible solutions to these problems are also recommended. Background BRIC is generally portrayed as Big Four, BRICs or BRIC markets. A grouping acronym, BRIC is a group of four countries namely, Brazil, Russia, India and China which are believed to be at a similar stage of economic development. BRIC markets are one of the most emerging markets and are of great interest to the companies around the world (Dash, 2007). According to A. G. Canen & I. Tammela, logistics portrays the administration of the movement of services and goods from point of production to the point of consumption to meet customer requirements. It is a medium of supply chain which helps to put in the worth of place utility and time. Logistics involves the amalgamation of transportation, packaging, inventory, information, material handling, security and warehousing. 1.1 Significance of the Study Through this research I attempt to find out numerous logistics challenges faced by the businesses while their expansion into the BRIC markets. 1.2 Research Questions and Objectives Research Questions Research Objectives 1. What are the logistics challenges faced by the businesses while expanding into BRICs markets? 2. Why are these challenges said to be relevant? 3. What are the types of solutions to these challenges? 1. To identify the logistics challenges faced by the businesses while expanding into BRICs markets. 2. To work out the relevance of these challenges. 3. To recognize the types of solutions to these challenges. 1.3 Scope of the Study The data was mainly collected from secondary sources including books, articles, internet and journals. 1.4 Critical Review of Literature I am succeeded in illustrating the literature consisting of articles and journals on the research subject matter. The reviewed literature refined my knowledge concerning the m atter of the study and provided me with a number of study materials published prior related to the research matter, thus supported the significance of this study. 1.5 Hypothesis The research objective is to test the following hypothesis: H1: IT for logistics management is the most important challenge faced by the businesses. H2: The economic growth of BRIC markets relative to G7 countries is inferior. 1.6 Research Method Only qualitative approach was employed to investigate the matter. 1.7 Data Collection Methods For qualitative research, secondary data has been used including articles, internet and journals. 1.8 Ethical Considerations Efforts were made to minimize errors. Complete responsibility was taken to produce work without any bias. Confidentiality, integrity of data, errors and negligence, social responsibility, non-discrimination legal were given prior consideration during execution of this study. 1.9 Limitations The major limitation of this research is that it is relying o n secondary data only. Moreover, the data collected might be biased and provide restricted information due to distinctive perceptions of the authors included in the literature of the research. CHAPTER TWO: LITERATURE REVIEW 2.0 BRIC Markets BRIC is generally portrayed as Big Four, BRICs or BRIC markets. A grouping acronym, BRIC is a group of four countries namely, Brazil, Russia, India and China which are believed to be at a similar stage of economic development. BRIC markets are one of the most emerging markets and are of great interest to the companies around the world (Dash, 2007).