Management Innovation for India

The time has come for Sone ki chidia to take flight and brighten up the world with its gleam and glory. It has waited long enough in its dwelling waiting for the right time - time for the right economic conditions, right beliefs, right threats and right opportunities. It waited patiently while the world experimented with feudalism, communalism, socialism and capitalism. It waited also when the world was testing grounds with wars and colonization by the British and political tractions among the countries. It silently witnessed the industrialization and technological advancements happening in the west and the east. Closer home it has envied the massive workforce in manufacturing being developed in its most populous neighbour. It waited. It waited knowing that it has centuries old history of civilization and available evidence of prosperous economy for hundreds of years. It was an important trading nation in different parts of the world for a long period. There was no way it could have disappeared into oblivion with its strong and unique economic and business models driven by higher principles that existed until the advent of the British that resulted in dramatically changing its position and authority on her economy and native businesses. So much so, that at the time of independence it was a poor country. It has waited long enough. While it waited, the rest of the world was discovering new ways of growing. It was developing their economy through industrialization, standardization and mass production. Changing economic models brought new business principles, which further influenced their management models. Apart from these basic variables, the social and cultural backgrounds, different geographies, varied natural resources and historical experiences brought out management systems peculiar to different countries and regions. From the Individualistic style of management of the United States of America to the colonial style of Europe to Japan’s paternalistic system[1], the management styles differed on many accounts. By virtue of India being a British colony for a long time, its own business principles and management styles were subdued to a large extent. While waiting, our golden bird missed a few first-hand experiences of ground shaking upturns of industrial growth. As a result, there was neither an independent definition of Indian economy or business nor of an Indian management style. What we borrowed later, was the western influence on the same. Even after political independence, the dependence carried on in terms of followership of the western models of management that were largely suited to the organization models of the western conglomerates. The establishment of some of the premier Management schools in India is a living example of the same. It did serve a good purpose when India was struggling to get back on her feet and thanks to the quick adaptations, some organizations did benefit immensely from the management code taught in these management schools and applied locally. The replication was fast and brought India into the growth track; at the right time and may be argued that it brought India into its “right time”. She need not wait any longer. With the new opportunities being thrown in due to the worldwide phenomenon of change, it is probably the best time for India to come of its own. It now has a well-defined and progressive economic model, its own set of successful business models, family managed and entrepreneurial, traditional and technological, cultural and digital. The mere variety of these business models rooted in our own unique context cannot be carried on simply on the western style of management. Secondly, the new global economy is redefining itself from time to time, from being an industrial economy of the 60’s to the technological economy of 90’s to the knowledge economy of the new millennium; it has brought the responsibility to keep pace with these fast changes back to us. One of the most important growth drivers now is ‘Innovation’. Taking cognizance of the fact that we are living in the times of ambiguity typical of ‘Innovation’ we need to evolve own contemporary and futuristic management style, which will support or enhance this wave. Just like new business models cannot be supported by old management styles, similarly, new management styles cannot be supported by traditional western management education model. New Management style rooted in Indian ethos has to be imbibed in the business and management schools’ curriculum if it has to be fully absorbed and implemented in the corporate world in the times to come. Tomorrow’s leaders are the youth of today. It is imperative to give them a clear direction through relevant management education now. My motivation of taking up research in this direction has emanated from my passion to bring about a meaningful change in the management education so as to make the young management graduate the future leader who will lead India with its own ‘Indian style’ rather than the borrowed one. Welingkar Institute of Management Development and Research (We school) is a pioneer management Institute ranked among the top 15 Business schools in India. The vision of the school is to “nurture thought leaders and practitioners through inventive education”. Keeping in line with the vision, I wish to explore and establish a robust model for business management education which will be essential for the future leaders to go through if they wish to lead their organizations into the growth path and in the process project the country to lead the world. Throughout my research I seek answers to many questions viz. How is the Indian economy doing now? What are the new business models coming out during this economy? What new management paradigm is required to support the business in this environment? How does it affect us as an individual and as a Nation? How does it affect the growth? How can the change be brought about? What kind of changes in the curriculum of Business and management schools need to be incorporated so as to make the youth ‘future ready’ to manage their organizations in the dynamic environment. Where will the inspirations come from? Where to seek solutions? etc. The answers would lead me to create a new framework for Management education for a contemporary India. If you have any answers to the questions posed, please comment.