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

The detailed information listed under - Essay ExampleIt was also essential to minimize family control along the value chain by hiring competent managers who understood the dynamics of external trade. The removal of family control promoted the global appeal since shareholders feel take time off of the organizations decision making.The new(prenominal) way of enhancing cost reduction measures was through the development of type 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 compeer 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 change magnitude earnings and global presence by decreasing the operation costs. Th e other reason was that it enables the hiring of professionals to operate the family business, which trim back 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