Economy at the Cross-Roads: New Opportunity for Indian Management
Dr. R. P. Banerjee
Director, EIILM
Where as chaos and crisis ridicules normal living, systems, structures and plans reestablish the normal fabric of an institution. The journey of human being in the society has created a path for others to follow the trails of legacy. Through the process of coining ideas and activities a fresh human being has been destined to take cues from the paths curved by the forerunners.
The conscious spirit of human being which is invisible, intangible, unnoticeable needs to be explored. Can we unleash it? Can we make it grow? Can we make it the guiding factor of life? Can we assimilate individual consciousness of many and apply that in the context of the collectives. The answer to all these questions is: yes, we can discover the spirit within, make use of the spirit for the benefit of the society and civilization. Make cultivation of new thoughts for transformation of institutions and society and finally transformation of person to a divine identity suited to the empirical requirement.
Post modern civilization will need new species of human being. Management by consciousness would pave the way for that. Managing enterprises by consciousness would establish a link to this phenomenon with the society certainly initiating the process to transform the person as well.
An MBA student expects a comprehensive development of her/his personality through the exposure in the curriculum studied. Whereas, intellectual content of the curriculum matters a lot, a practice orientation is regarded more important than the former. A student expects conceptual, experiential and experimental contents in the program. In short, the person develops an inclination towards perfection; success in the corporate world becomes obvious.
Scaling high without any limit in the mind is what is called aspiration unbound. There are certain aspirations which are truly, purely based on material component of fact and rational. There are others who do not like to look at the material component of facts and rational.
Human civilization has scaled very high at all stages of its revolution. Look at a primitive and the social weathers where the ancient sages had dreamt of a society based on truth and relations of divine. The truth was universal in their revolutions and perception. They lived on this truth and wanted others for the same. They discovered the fact that: ‘your mind, your heart, your senses are built on truth, try to realize that, understand in your own way and give it a shape’.
To my mind an individual correction is needed in the current structure of the global financial system. We need to look at transforming certain forms of the market or at least taming most of them. To list down a few of them are as follows:
- The structures and mechanism of consumerism.
- Limited intervention of the market through regulatory mechanism in such a way that consumers and investors receive priority for governance.
- Flow of funds from larger entities to smaller entities in a continuous process so that the control of the funds and the velocity of the movement of the funds are all in the hands of consumers partly.
- The cohesive mechanism of administering financial markets by non-financial forces needs to be evolved in a planned manner.
The recent statement of Professor Paul Krugmann, 2008, Nobel Laureate in Economics, can be squarely contradicted by saying that “it’s neither the era of end of capitalism nor an era of ‘come back of socialism’”, it’s but an era of enforcement of the “collective objective” on the “individual” while maintaining the economic liberty of the individual.
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