As The India Way suggest India's different business culture could revolutionise multinational management as India enterprises go global and escape their home markets. The four authors are all Professors at the Wharton School, the University of Pennsylvania’s renowned business school and are well placed to comment on what they call The India Way. During the research for the book they consulted with most of the top Indian leaders of the businesses that underpin India’s recent and continuing success.
The first chapter provides a shorty history of business in India. It explains why and how the business environment has changed since 1991 to produce the recent phenomenal growth in India. The India Way then moves to explore the four main characteristics of management that make up The India Way.
Holistic Engagement with Employees or Employee’s First, Customers Second
The employee is preeminent in The India Way as business leaders see the corporate and culture and employee morale as being central. This may be due to traditional Indian paternalism, the youth of many major businesses still run by their founders or in older businesses there is still often a dynastic family management. Whatever the driver such Indian businesses invest strongly in their staff at all levels. There is a culture of performance management which when linked with the business culture actually creates the conditions for successful business. It means that employees are not treated as disposable resources as they often are in USA and to some extent United Kingdom.
The Need for Improvisation and Adaptability and its Impact on Strategy
Due to the regulation, lack of access to technology and an uncertain infrastructure Indian business managers have long had to be adaptable and flexible. The India Way suggests that this has created a less prescriptive approach to corporate strategy than in the west. There has been a need to try many new approaches to find what works and to quickly drop those that are not working. It creates a focus on broad objectives rather than the overly short term financial target driven culture of western corporations.
Creating Value Propositions for Competitive and Price-Conscious Domestic Market
India has a huge population with modest means. To serve such customers Indian business has to both very effective and efficient in satisfying an aspiring and demanding market. The India Way results in efficiency and innovative business concepts that give Indian business a strong hand in global and developed markets, especially at a time of widespread austerity.
Broader Mission and Purpose, Responsibility to Society
India business leaders have a strong sense of responsibility to wider society. Again some of it may be due to the remnants of feudal responsibility. However much is due to the disparities in wealth in a young country. They have long taken take pride in family prosperity, regional success and the formation of a successful nation. This drives a need for effective leadership both inside and outside the business.
SOURCE:
http://referencebooks.suite101.com/article.cfm/the-india-way-revolutionizing-business-management-and-strategy
The first chapter provides a shorty history of business in India. It explains why and how the business environment has changed since 1991 to produce the recent phenomenal growth in India. The India Way then moves to explore the four main characteristics of management that make up The India Way.
Holistic Engagement with Employees or Employee’s First, Customers Second
The employee is preeminent in The India Way as business leaders see the corporate and culture and employee morale as being central. This may be due to traditional Indian paternalism, the youth of many major businesses still run by their founders or in older businesses there is still often a dynastic family management. Whatever the driver such Indian businesses invest strongly in their staff at all levels. There is a culture of performance management which when linked with the business culture actually creates the conditions for successful business. It means that employees are not treated as disposable resources as they often are in USA and to some extent United Kingdom.
The Need for Improvisation and Adaptability and its Impact on Strategy
Due to the regulation, lack of access to technology and an uncertain infrastructure Indian business managers have long had to be adaptable and flexible. The India Way suggests that this has created a less prescriptive approach to corporate strategy than in the west. There has been a need to try many new approaches to find what works and to quickly drop those that are not working. It creates a focus on broad objectives rather than the overly short term financial target driven culture of western corporations.
Creating Value Propositions for Competitive and Price-Conscious Domestic Market
India has a huge population with modest means. To serve such customers Indian business has to both very effective and efficient in satisfying an aspiring and demanding market. The India Way results in efficiency and innovative business concepts that give Indian business a strong hand in global and developed markets, especially at a time of widespread austerity.
Broader Mission and Purpose, Responsibility to Society
India business leaders have a strong sense of responsibility to wider society. Again some of it may be due to the remnants of feudal responsibility. However much is due to the disparities in wealth in a young country. They have long taken take pride in family prosperity, regional success and the formation of a successful nation. This drives a need for effective leadership both inside and outside the business.
SOURCE:
http://referencebooks.suite101.com/article.cfm/the-india-way-revolutionizing-business-management-and-strategy
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