TOPIC: GLOBAL MANGEMENT PRACTICE AND THEIR

IMPACT ON INDIAN MANGEMENT

SUBMITTED TO:

Praveen Kumar
Submitted by:
Snehil Ahirwar Asst. Professor
1120202149 Management
BBA. LLB HIMACHAL PRADESH
FIRST SEMESTER NATIONAL LAW
UNIVERSITY

SHIMLA
 ACKNOWLEDGEMENT

Every project, however big or small it may be and however

important it is, is successful largely due to the efforts and
dedication of a number of persons who have helped in
whatever way they can, by providing information related to it or
by giving advice that is essential in the completion of the
project. I sincerely appreciate the assistance of these people
and thank them for their support and guidance that was
instrumental in making this project a success.

I, Snehil Ahirwar, student of Himachal Pradesh National Law

University (Shimla), am grateful to the University for the
confidence bestowed in me and entrusting my ability.

I also admire and extend my thanks to my project guide, Dr.

Praveen Kumar, who mentored me while compiling the project.
Her insight has been extremely valuable in the completion of
this project.

I would like to extend my last word of gratitude to everyone

else involved in helping me with the assignment.
CONTENTS

 INTRODUCTION
 WHAT IS GLOBAL MANGEMENT
 WHY IS GLOBAL MANGEMENT
IMPORTANT
 GLOBAL STRATERGY
 MANGEMENT STYLES
 THE NEW GLOBAL
MANGEMENT STYLES
 IMPACT OF GLOBAL
MANGEMENT ON INDIA
 CONCLUSION

INTRODUCTION
Worldwide a process of globalization has continuously developed – imposed by
the credible desire of the powerful states to integrate as many economies (in
particular those of underdeveloped countries) – which gradually included most
fields of activity. This has caused problems for several companies to adapt to
their external environmental conditions. As such, management, has had to affect
more and more challenges, as a results of the ever- growing common global
environment created.

The thanks to integrate as many companies into the worldwide economy was
possible thanks to measures like the free movement of labor in many developed
and even in underdeveloped countries, the liberalization of financial-banking
markets, financial capital, etc. The

consequences of those measures weren't long awaited, as a fierce competition at

the economic and commercial level is consistently being intensified. Highly
skilled workforce moving / migrating to countries that strongly support research
and innovation have created new technologies capable of revolutionizing many
areas of activity.

A leading field of activity – which dominates this industry – is that of data

technology, communications which of audio-visual business. Global
competition has also impacted the competitiveness of national economies. and
eventually , the push to possess products/services capable of winning over as
many markets as possible has led many companies to not always act within the
best interest of the environment, albeit the talk about the town is somewhat
driven towards corporate social responsibility and issues regarding
sustainability, durability and therefore the way forward for subsequent
generations.

The economic characteristic of globalization is that the interpenetration of

national economies that's reflected in increased commercial trades, investments
and foreign capital. The negative consequence of those interrelations are often a
worldwide economic and financial crisis (produced by the event of in-country
imbalances, which breaks/destabilizes the international linkage). Even with this
risk, global businesses are functioning throughout the worldwide economy,
counting on market expansion.

The main objectives of the paper are: to spot and analyze the most ways during
which global management practices and methods are often adapted to survive
within the context of the IT driven society, to work out which are the simplest
ways during which managers can affect the challenges of running global teams,
to work out new guidelines, so as to accommodate the common shared digital
workspace such created, and to vary the approach during which the managerial
functions and therefore the management process itself is being regarded in,
considering the continual changes of the digital environment, because the
current global workspace evolves.

As global economic exchanges are increasingly developing, it's been found that
such transactions are often facilitated by investing creative and innovative
human capital in high-tech information and communication fields. The
preoccupation of specialists in super high-tech IT field has become quite
evident within the last decade of the century. The interconnected global
economy creates transnational corporations that potentiate a system of
interdependent markets; the latter (system) wouldn't be possible without
digitization. Beginning with computer systems capable of manufacturing
through robotics, high performance, competitive, diversified and tailor-made
products adapted to satisfy the requirements of the marketplace, and continuing
with their fast and efficient promotion, distribution and delivery. Also with the
high tech information technology production marketing and management costs
are significantly reduced. Coordinating the activities of worldwide
organizations, on one hand, is relieved through the utilization of
telecommunications and top-level information systems which create a
replacement way of doing things, on the opposite hand, management of such
organizations is that the on left handling deciding which is that the best thanks
to do business within the new digital environment. As planning of
business/production activities is completed through direct/online
communications means, acting accordingly depends on understanding the
momentary changes of the ever-changing context. As such establishing and
managing global businesses strategies resumes more to "here and now",
paradoxically even when physical distances are great, and time zones are
different.
Currently, as an immediate consequence of the IT driven society, many
companies have expanded their marketing, supply and production activities in
many regions that they considered opportune for them precisely due to the
moment transmission of data , which is so necessary for expansion.

The IT era has brought on the new, and therefore the incontrovertible fact that ,
if within the beginning firms were helped to regulate the markets, now the
businesses that became giants can, through advanced information technologies,
consolidate this control at a scale that they need not been ready to achieve
without IT, dominating the planet economy. The success of the many gigantic
economic, financial companies is essentially thanks to their efforts to support
research, development and technological innovation. Valuing the knowledge-
inducing, especially innovative human potential, has empowered organizations,
enabling them to take care of progress. Expenditures of companies with these
knowledge-rich human resources are amortized by the increased productive
efficiency of team members and managers.

We have seen that without the stimulation of research and innovation, it's
impossible to get development that within the end reflects welfare. Facilitating
communication development, through IT, creates interconnected networks of
varied dimensions, linked at micro and macroeconomic levels. A well-
established IT based business network can sustain a management process ready
to better prevent, anticipate, detect and affect all-level/all-type challenges and
malfunctions. Today’s society and economy are quite ever before, firstly digital:
through IT, especially with the assistance of the web , social networking, social
media, companies find it easy to enhance their efficiency within the economic
and social environment but seem to be struggling when it involves managing
certain situation created by the globalized context. Most successful businesses
perform their extensive activities in various areas through the utilization of IT,
they're supported advanced processing technologies, and ease their work by
reducing bureaucracy, by understanding that management must increase the
pliability of its strategies and assume a more active role within the adaptation of
the managerial process.

Benefits of the managed society much outweigh the challenges, the

effectiveness of a company’s activities being evident by noticing things such as:
creating a proximity to the potential buyer, a more detailed knowledge domain
of the competitive demand and provide , travel cost reduction for promotion,
know-how transfer, overall total time won, and so on. But maybe, we should
always ask ourselves if this point saved might be put to raised use by the
management of those organizations so as to further cash in of the opportunities
and to make practices and methods to accentuate the general performance.

Lately, information gained tons of importance, being considered by many

specialists and practitioners as a basic resource of the successful business. It are
often said that it's become a commodity - which creates an enormous advantage
during this global competitive environment. This mainly allows human
resources of organizations that are supported IT systems communication to
enhance their potential thanks to a faster accumulation of important information
and a timelier efficient activity. However, the manager is that the one
responsible with the coordination of members of such teams created within the
digital workspace and he must facilitate communication, monitor and control
the relationships formed more effectively, better forecasting and predicting
obstacles.

Also, the new way of working and doing business, remotely/online creates new
opportunities, relieves certain efforts for employees/managers and facilitates
cost reduction for the corporate . the chances on the worldwide market for
companies to seek out highly qualified personnel increase and cause a far better
match in terms of employer-employee, which successively creates a far better fit
and sustains the achievement of economic performance. Another advantage for
a worldwide organization refers to location and therefore the thinning of
location boundaries, which allows it to quickly determine deficiencies during a
remote region, act accordingly through the digital means we can better
understand and interact with potential partners or geographically distant
competitors, and so on. However, these virtual dimensions of business also can
pose risks and end in

challenges, generating a shift in trends in terms of applied management

practices, as certain things cannot still be done an equivalent way as within the
past, which if not addressed properly can have a serious influence with
significant consequences on the economic side of a business.
The relationship between organizations and therefore the global environment is
more powerful than ever, the need to research and shape certain guidelines to be
followed by the managers of those entities being indisputably essential. so as to
completely cash in of the worldwide economic and social growth potential
created by the super high-tech business environment new strategies should be
formed so as to develop a sustainable managerial process.

WHAT IS GLOBAL MANGEMNET:

International and Global Management cares with the techniques and practices
that are involved in directing and controlling international organisations. Thus,
it covers all the problems that arise as a consequence of international and global
strategies. In practice, strategy and management at the senior level of a
corporation are inter-related. For example, the US auto company Ford Motors
features a venture within the People’s Republic of China with the Chinese
company Chang’An. this needs careful management at a senior level both for
the US company and therefore the Chinese company to make sure that the local
venture continues to run effectively.

International and Global Management can usefully be considered from the

attitude of the various functions of the organisation: marketing, operations
(often called production), human resources, finance and other support activities
like research and development and legal issues. From a world perspective, each
of those functional areas will have more complex issues than arise in anybody
country. the aim of this section is to spot a minimum of a number of these
additional issues.
WHY IS GLOBAL MANGEMENT
IMPORTANT?
The primary advantage of expanding business operations beyond your borders
comes right down to numbers. Operating in additional countries means access to
more customers, which suggests more revenue and profit. If you sell goods,
higher volumes can reduce costs. If you're within the services sector, you've got
the chance to rent more talent, which may usher in new ideas and may open
even more opportunities — opportunities you haven't even considered yet.

Operating in global markets is additionally honest thanks to reduce risks and to

leverage new opportunities. If you're working during a different country with its
own economy, it can function a buffer should there be a lag, including a
recession, in your own country. Additionally, if there's a change within the
market there, sort of a new product or service or a competitor coitus interrupts
you have already got an edge there, and you'll move quickly to require
advantage of that change. While there are certainly some risks in opening your
company to new markets with different cultures, languages and buying habits,
these risks aren't too different than when your company opened its doors in your
first market. you cannot take foreign markets without any consideration any
longer than you'll take your own marketplace for granted once you first started.
Expansion requires tons of research and therefore the development of latest
management skills.
GLOBAL STRATERGY:
In business, global strategy refers to a strategic guide to a business to
globalisation. At this scenario, the planet becomes more connected which
allows a corporation to get revenue by utilising the resources prevailing in
countries that are located outside the national border. Global strategy of a
business are some things that a business uses to use to reap the rewards of
conducting business within the worldwide market.

During the top of the 20 th century, variety of barriers associated with

international trade walls thanks to this, an outsized wave of companies started
pursuing global strategies with the aim of gaining competitive advantages.
Academic research on global strategy came over 1980s by literary works
presented by Michael Porter, Christopher Bartlett, and Sumantra Ghoshal.
Global strategy is related to economic systems, and technological change more
especially changes in information technology which facilitated the coordination
of a multinational company’s strategy on the worldwide scale.

In developing a worldwide strategy for a business, it's quite useful to

differentiate between the three sorts of a company’s business expansion within
the international market which arise from its resources, capabilities also because
the current position within the international arena. Here, if a corporation uses to
focus mainly on its domestic markets, then the strategies it applies outside its
domestic markets are treated as international strategies, for an example
chocolate manufacturing company might sell its excess produce i.e. chocolate
outside its domestic country, but its core strategic focus still directed to the
domestic market.
 MANGEMENT STYLES:
A management style may be a way during which a manager works to satisfy
their goals. Management style includes the way that a manager needs to plans,
organizes, makes decisions, delegates, and manages their staff. It can vary
widely counting on the corporate , level of management, industry, country, and
culture, also because the person themself. an efficient manager is someone who
can adjust their management style in response to various factors while keeping
their specialise in successfully achieving targets. Management styles are
suffering from both internal and external factors.

Internal factors include the general organizational and company culture of the
corporate, also as policies, priorities, employee engagement and staff skill
levels. Generally, the higher-skilled staffs doesn't need the maximum amount
supervision, while less skilled staff would require more monitoring to
consistently achieve their objectives. External factors can include employment
laws, economy, competitors, suppliers and the consumers. These are factors that
are outside of the control of the organization, but will have an impact on both
managers and employees.

Autocratic management styles:

 Autocratic type of management follows a top-down approach, with one-
way communication from bosses to employees.
 This is the type of management is foremost controlling of the various
management styles, with the management making all workplace decisions
and holding all of the facility .
 Employees are treated as drones, to be monitored closely as they perform
within clearly there defined perimeter.
 Employees aren't encouraged to ask multiple questions, submit ideas, or
share their thoughts on improving processes, and are in some cases
actively discouraged from doing so.
Persuasive management style:

In this style, managers use their persuasive skills to convince employees that the
unilateral decisions that the manager implements are for the great of the team,
department, or organization. It’s not simply ordering employees to perform
tasks; managers employing this style would invite questions and would explain
the decision-making process and rationale behind policies. This will help
employees feel as if they're a more trusted and valued a part of the staff and are
involved in key business decisions, resulting in lower levels of resentment or
tension between management and staff.

Paternalistic management style:

In this style, the manager acts with the simplest interests of their subordinates at
bottom .Usually, the organization will ask staff as ‘family’ and invite loyalty
and trust from employees. Management using this style will use unilateral
deciding but will inform employees that the decision-makers are performing
from an area of experience , and thus, legitimacy. Decisions are explained to
employees, but there's no room for collaboration or questioning.
Democratic management styles:
In this style, managers encourage employees to offer input during the
decision-making process, but are ultimately liable for the ultimate decision.
Communication goes both ways, top-down and bottom-up, and team
cohesiveness is increased. This process allows for diverse opinions,
skills and concepts to tell decisions.

Consultative management style:

In this style, managers invite the opinions and thoughts of their team,
consulting the viewpoints of each member of their team.The manager will
make the ultimate decision, but they're going to consider all of the
knowledge given by team members before they are doing so. This style is
usually utilized in specialized fields, where staff are experts and their
input is required for the management to form informed decisions.

Participative management style:

In this style, managers and staff are all active members of the
choice process. Staff is given access to more information about the
corporate and its goals, and are encouraged to innovate solutions.
Management seeks the thoughts, ideas and opinions of staff,
works alongside staff to form decisions then the corporate acts on them.

Collaborative management style:

In this style, management creates an open forum for ideas to be discussed
extensively before making decisions supported democracy. Staffs is
empowered to require ownership of outcomes, which may cause increased
engagement, innovation and creativity.
Transformational management style:
This sort of management is agile and growth-focused. Managers focus their
efforts on pushing their staff to ever greater accomplishments through
encouragement, pushing them past their comfort zones regularly, and
consistently motivating their teams to boost their bar for achievements.
Managers work alongside with their employees, inspiring their team to ever
greater efforts by demonstrating their own work ethic.

Coaching management style:

In this style, managers see themselves because the coach and their
employees because the valued members of their team. The manager’s job is
to develop and guide their team, putting their team’s professional
development at the forefront of their priorities. Long-term development is
valued above short-term failures during this style, and therefore the manager
wants to market learning, up skilling and growing within the workplace.

Laissez-faire management styles:

In this style, management takes a hands-off approach to leadership. Staff is

trusted to try to their work without supervision, and that they are left to
regulate their deciding and problem-solving. Management is present at the
delegation and delivery stages of labour, but otherwise steps back and
provides staff the liberty to regulate their workflow and outcomes.
Management is merely involved during the method if the staff requests their
assistance.
Delegative management style:

In this style, the manager is merely present to assign tasks, although they
still are liable for tasks being completed successfully. Once the task is
assigned, then the workers are empowered to try to to their work as they see
fit. After the task is complete, the manager steps back in to review the
work and provides advice about the way to improve future projects.

Visionary management style:

In this style, managers lead through inspiring their staff. Leaders explain
their goals and therefore the reasons behind them, convincing their team to
figure towards executing their vision.
Team members are motivated by their manager, then allowed the liberty to
realize their tasks with minimal interference. Managers will sign up from
time to time, but they trust that their shared vision will keep employees on
target and produce good results. Managers offer tons of constructive
feedback during and after the method to help their employees, and confirm to
offer praise liberally.
The New Global Management Process and
Practices:

The main objective of such a top management system is to supply a vision of

both change and, above all, adaptation to the socio-economic environment
during which it's defined. this sort of successful management must: demonstrate
expertise on the characteristics of the industry; clearly define the place and
therefore the role of the business – within the realistic limits and objectives;
outline a plan/strategy which will cause the achievement of the established
objectives; to require under consideration traditional practices, but to use
systems, methods and techniques adapted to the digital age; participate in
transforming a corporation by building projects ready to face entrepreneurial
challenges determined by the characteristics of the IT driven society.

But change can't be achieved if past isn't fully understood. Therefore, only by
knowing important methodologies of managerial practices and methods –
regarding different specific aspects, of which we mention the following: phases
of the management process; evolution and interdependence of management
functions; main ways of business development; understanding and anticipating
new customers’ needs; launching/managing a business or innovation;
entrepreneurship strategies; the power to require under consideration the social
responsibility problems with the business; – can new management attempts and
approaches be made easier during this digital age.

Understanding the growing importance of social networks in product placement,

commercial marketing, in communicating with loyal/new/potential clients, in
easy and convenient electronic commerce, also as in managing different
business activities through the smart us of data technology and communications,
and last but not least, in an intercorrelation of the markets, or of varied
concerned business environments.
The emerging digital revolution focuses on a predominantly IT driven society
that also has implications on the business environments that are conducive to an
increasingly viable, innovative economy. But the pitfalls of this context aren't
few, and that they also challenge business managers through the speed of
accessing confidential data, through the ever-growing capacity of developing
innovative ideas, through alternative ways of accessing artificial intelligence,
through the risks arising from the event of free digitized societies which will
cause abuses in several environments, which in some situations can even go up
to the violation of certain consumer/society rights.

This digital revolution sometimes dramatically influences the business

environment, mainly in terms of knowledge management, which results in a
way higher visibility / predictability / control over the normal may of doing
things. Internet use also configure the business environment and, implicitly,
management. for instance , online marketing creates new consumer experiences
that cause somewhat of an addiction to such technologies; companies also are
subjected to cyber security risks which will have adverse consequences for
themselves and for the customer. Management within the online environment
also involves costs / investments that foresee the new risks of digitization.
Global management must consider the close relationship between business and
its connectivity with the “outside” world. So prioritizing investments in digital
infrastructure is that the key to effective management of the longer term . An
appropriate managerial approach within the context of rapid technological
evolution can make a difference, but also stimulating an innovative environment
can increase the probabilities of success within the business. The impact of
digitization is gigantic , influencing both employers and employees – especially
from the purpose of view of adjusting jobs - tailored to military training , and
another aspect that has got to not be neglected in the least refers to information
security.
IMPACT OF GLOBAL MANGEMENT
ON INDIA:

Globalization has been defined because the process of rapid integration of

nations and happenings through greater foreign trade and foreign
investment. it's the method of international integration arising from the
interchange of world views, products, ideas and other aspects of culture.

The various beneficial effects of globalization in Indian Industry are that it

brought in huge amounts of foreign investments into the industry
especially within the BPO, pharmaceutical, petroleum, and manufacturing
industries. As huge amounts of foreign direct investments (FDI) were
coming to the Indian Industry, they boosted the Indian economy quite
significantly.

The benefits of the consequences of globalization within the Indian Industry

are that a lot of foreign companies found out industries in India,
especially within the pharmaceutical, BPO, petroleum, manufacturing, and
chemical sectors and this helped to supply employment to
several people within the country.

This helped reduce the extent of unemployment and poverty within

the country. Also the advantage of the consequences of Globalization on
Indian Industry are that the foreign companies brought in highly advanced
technology with them and this helped to form the Indian Industry more
technologically advanced.

The various negative Effects of Globalization on Indian Industry are that it

increased competition within the Indian market between the foreign
companies and domestic companies. With the foreign goods being better
than the Indian goods, the buyer preferred to shop for the foreign goods.
This reduced the quantity of profit of the Indian Industry companies. This
happened mainly within the pharmaceutical, manufacturing, chemical, and
steel industries.
The negative Effects of Globalization on Indian Industry are that with the
approaching of technology the amount of labor required decreased and this
resulted in many of us being faraway from their jobs. This happened
mainly within the pharmaceutical, chemical, manufacturing, and cement
industries. the consequences of globalization on Indian Industry have proved
to be positive also as negative. the govt of India must attempt to make such
economic policies with reference to Indian Industry's Globalization that are
beneficial and not harmful.

The informal sector is purposely ex-directory within the labor legislation. for
instance , informal workers aren’t the topic considering the 1948 Factories
Act. This scheme covers vital factors like common working conditions,
safety, and health, the ban on child labor, working hours etc. Also,
globalization has caused poor health, disgraceful working conditions, also as
bondage, happening in several parts of the country.
CONCLUSION:
The new technologies have had and have a positive impact on
humanity also as on the business environment generally , facilitating the
access of more customers as possible to their products/services, but also
stimulating creativity by getting things done not only better but cleverer and
faster-increasing user comfort, anticipating specific needs associated
with that product/service. Another IT benefit is adapting the
merchandise to the precise needs of potential customers accessing the
merchandise through the web – quick feedback on products and therefore
the ability to satisfy needs that the organization didn't know that they
had when creating the merchandise . The enemy of a corporation within
the digital era of the business environment is unprecedented
competition. during this situation, managerial abilities are put to the test, as
organizational changes pose a challenge. we've shown above qualities that
make the difference between a successful manager and a poor performer
and it's come to light that confidence during this “hot” environment can
make a difference. additionally , the manager must surround himself with
competent employees with creative and professional capabilities tailored to
continuously surpass the goals initially established.
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Principles and Strategies. USA: St.Lucie Press
Bhagat, R. S., Triandis, H. C., & McDevitt, A. S. (2012).
Managing GlobalOrganizations:Cultural Perspective.
Cheltenham: Edward Elgar Publishing Limited
Singh, P., & Verma, S. (2010). Organizing and Managing in
the Era of Globalization.London: Sage Publications Ltd.