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JB Hi Fi is a retail chain of Australia which specializes into selling consumer goods like Ultra HD Blue-rays, CD’s, video games, DVDs, hardware, electronics, mobile phones, electrical home appliances and also provides many of the Telstra services. The company is based at Cladstone Shopping Centre in Melbourne and is also listed at ASX. The company expanded its operation into New Zealand. The company commenced its operations in the year 1974 and recently in the year 2016 the company benefitted a lot by its major acquisition of The Good Guys which made JB Hi-Fi as the largest electronics retailer in Australia (CHEN, 2017). The company is also a sole retain chain which sells Dell Computer hardware in the retail stores. And has about 184 stores and 15 stores in Australia and New Zealand respectively.At present, the company is planning to expand its operations in some Asian country and the company is considering the market development opportunity and is eyeing, India as a market development option. This opportunity is being selected for the company after considering that the market of India is still unorganized in the terms of the retail store of electronics and the high purchasing power of people of India along with high population size would provide the company JG Hi FI a good opportunity to earn more profits after tapping this opportunity (Barnett, 2005). The opportunity would be explained with the aid of the detailed situation analysis of the country, India.
2 Situation Analysis
2.1 Business environmentPESTLE analysis: this is the strategic tool which is used to study the external environment prevailing in the country and this is an acronym.Political: India is one the largest democracies in the world and the political environment is dictated by the factors like the government policies, interests of politician and many factors. The taxes are being levied by the both the Central and the State governments. The country has recently announced a new Foreign Direct Investment Policy,2017-2018 in which the government has brought many changes in relation to FDI’s and have made the process easy for the retailers. They have started with the three-year relaxation of the norms of local sourcing in the single retail brand which would make it easy for investors like JB Hi-Fu to make an investment in India (Mangaldas, 2018). This way at present the government has liberalized the FDI regime in the country and have made the country a destination for making the investment.Economic: Indian Economy has grown with 7.7% year on year basis and the country has the strongest growth rate in the last quarter as the investments and manufacturing industries have grown at a faster pace.
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