Question

PLEASE GIVE THE ANWER ON THE BASIS OF INDIA.

Describe Management Styles and Practices that will be effective India’s business, and why you think so?

Is the Economy Self Adjusting in India or Need Intervention from authorities ? WHY?

Answer 1

ANS I in Indy, generally Autocratic management style was used , but in the era of globalisation and digitalisation the democratic style of management is more acceptable, hence,  management style that would be most effective in India would Democratic style , although it also depends on nature of work as -

1. Traditional organization- in India most business are run by family from generations, and they use Autocratic style , as these organization are highly centralised and the successors adopted same attitude towards employees, but with the expansion and need of skilled labor they are also shifting towards democratic style and increase participation of employees.

2. Private sector or MNC - these use democratic style of management as these are decentralized and have high degree of participation.

3. Public sector- generally bureaucratic style of management is followed but in the wake of losses incurred and Increase in disinvestment by government the need of Democratic style of management is realized.

ANS 2 After independence, India adopted mixed economy where public sector was given primary role but in 1991 new Economic reforms were introduced which lead to increase in role private sector and economy tried to move towards self adjusting economy . But still India is not a self adjusting economy, government intervention is required from time to time to bring stability in economy.Like in 2020, post Corona virus spread , there was need of government intervention to bring Economic stability as there was severe unemployment, fall in GDP and also other financial crisis were faced . At this time government introduced many new reforms like in June 2020, ₹20 lakhs crores were injected in economy through many policies, to increasing employment opportunitiesand built more infrastructure . later SELF Reliant India policy was introduced to make Indian firms to grow and reduce dependence on imports, and other schemes is regular launched to bring ease of business and promote small business in India.

Hence, India require some intervention of authorities to bring stability.