Should Indian organizations borrow best practices or develop relevant practices?:- Globalization, technology, economic liberalization and economic reforms and policies allowing foreign direct investment (FDI) in Indian enterprises have tremendously changed the business environment in India. And given India’s dynamic business environment and Indian business styles being based upon long-term, vis-a-vis short term, priorities in the context of several cultural and functional dimensions the question of the hour is that What is important: Going by the best practice rule or developing relevant practices in alignment with the Indian scenario of demographic, economic, socio-cultural factors. Are the best practices universal around the globe? Can the best practices of one industry in western nations simply followed in India to get the desired results? If the practices are not universal then what can be followed and what can be discarded ?
Fading boundaries between industries : Across ages, the focus has been fixed on developing the various specialisations at work and as a result, the distinct spheres of management have grown so apart from each-other, that, a specialist in one zone doesn’t care about the other zone. But, the dynamic times are changing again and it’s of supreme importance that we connect the integral parts of management with each-other again to draw a wholesome picture and thus reach the best results. It’s imperious that we spare a thought to the existing delicate boundaries amongst the prevalent industries to dissolve them further. The theme of Leadership Conclave 2015, is “The fading boundaries across industries: How can the B-schools adapt?”
The B-schools aim to impart a holistic learning to the students, therefore building a strong foundation and cover the basics in all the spheres. A student can certainly make better decisions about his specialisation after studying and interpreting the nuisances of a particular area and matching them with the varied interests he has developed over the time. The key is to keep the options open and learn as much in different sectors as at some point in a successful career, after moving up the corporate ladder, an individual is required to execute the functions which he hasn’t performed for a while. He did attain a basic knowledge during his management education but the need to learn more about them has arisen at this critical juncture. Does he go back to brush up the basics once again, or can he take certain small steps through-out his career?
The more important choice is the diversely available backgrounds that a corporate can choose from, to fill up it’s ranks and offer the top management jobs to a candidate irrespective of his work experience specialisation. There is absolutely no reason why a CEO from a manufacturing concern, with proven qualities will not fit well into an Ecommerce team. More and more companies are aware of this new trend catching up we believe that someday soon, the boundaries will cease to exist and the corporates will be free to hunt down the CEOs from any background previously. Will this be a trend at the top management level only or does it have the momentum to trickle down and be effective at the middle level and lower level management subsequently?