Intra Disciplinary Challanges Of Buisness Management

INTRA-DISCIPLINARY CHALLENGES OF BUSINESS MANAGEMENT DIWAKAR CHATURVEDI MBA 2ND YEAR

OBJECTIVES OF PRESENTATION Ø TO KNOW WHAT INTRA-DISCIPLINARY CHALLENGES ARE Ø TO KNOW THEIR TYPE Ø TO IDENTIFY THE DEPTH OF ACTUAL CHALLANGES

INTER- DISCIPLINARY CHALLENGES

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WHEN ONE DISCIPLINE IS STUDIED REGARDING CHALLENGES WITH OTHER DISCIPLINES. BUSINESS MANAGEMENT ALWAYS GETS HELP FROM OTHER DISCIPLINES LIKEECONOMICS SOCIOLOGY CULTURAL STUDIES POLITICS LAW ETHICS

MANAGEMENT USES THE DISCIPLINES WITH EXTREME CARE TO GAIN THE VITAL BUSINESS VALUES Ø PROFIT Ø EFFICIENCY Ø COMPETITIVENESS Ø PRODUCT/ SERVICE QUALITY BUT THEY DO NOT ALWAYS HELP THE BUSINESS MANAGEMENT, SOMETIMES THEY CREAT HURDLES. SO THE HURDLES ARE TREATED AS INTER-DISCIPLINARY CHALLANGES

MEANING OF INTRADISCIPLINARY CHALLANGES THE BUSINESS MANAGEMENT HAS MANY DISCIPLINES OF ITS OWN LIKESALES, PROCUREMENT, CRM, HRM, R&D, etc. SOMETIMES FOR BETTER PERFORMANCE AND SOMETIMES FOR SELF PROFIT THE VARIOUS DISCIPLINES WORK AND CONFLICT TOGETHER, WHICH MIGHT BE CONSIDERED AS INTRA-DISCIPLINARY CHALLENGES.

EXAMPLE OF AN INTRA-DISCIPLINARY CHALLANGE § §

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GUN POWDER AND THE CODES OF FIGHTING WEAPONS AND CODES OF FIGHTING ARE THE TWO MAIN DISCIPLINES OF WAR AND ETHICS. THE ACTUAL CODE WAS THE NIGHTS WERE FIGHTING FACE TO FACE AND THE WEAPON LESS MAN WAS NOT KILLED. NOW THE INVENTION OF GUN POWDER HAS CHANGED THE SENARIO OF FIGHTING AND IT HAS BEEN EVOLVED AS THE CHALLENGE FOR ETHICS.

RATIONAL OF THE STUDY: § BUSINESS MANAGEMENT IS NOT MERE A TECHNICAL ACTIVITY. IT INCLUDES THE HUMAN BEINGS. § ONE CAN NOT PRESUME TO GET THE EXPECTED RESULTS WHILE NEGLECTING THE VARIOUS HUMAN FACTORS IN BUSINESS MANAGEMENT

EXAMPLE GIVEN BY ADAM SMITH“TWO GREYHOUNDS IN RUNNING DOWN THE SAME HARE, HAVE SOMETIMES THE APPEARANCE OF ACTING IN SOME SORT OF CONCERT. BUT NO BODY EVER SAW A DOG MAKE A FAIR AND DELIBERATE EXCHANGE OF ONE BONE FOR ANOTHER WITH ANOTHER DOG”.

VITAL ELEMENTS OF BUSINESS MANAGEMENT SUCH AS – Ø LABOUR Ø PRICE Ø MARKET Ø NATURAL RESOURCES HAVE DIFFERENT MEANINGS TO DEFFERENT STAKEHOLDERS IN BUSINESS. SOMETIMES THEY ENTAIL MUTUALLY COMPETITIVE MEANING.

EXAMPLE: LABOR SAVING v FOR LABORERS LABOUR SAVING MEANS ANY REDUCTION IN THE AMOUNT OF HARD WORK WHICH THEY ARE SUPPOSED TO DO. v FOR MANAGERS LABOUR SAVING MEANS REDUCING THE PRODUCTION COST BY LOWERING WAGES &/OR BENEFITS, SHRINKING WORKING HOURS OR EVEN THE WORKFORCE ITSELF.

THE CHALLENGES ARE FROM: Ø KNOWLEDEG ECONOMY Ø CHALLENGES FORM PEOPLE OUTSIDE THE MARKET Ø INTEGRATING SPRITUALITY IN BUSINESS.

(1) KNOWLEDGE ECONOMY… IT IS AN ECONOMIC SYSTEM IN WHICH THE GENERATION AND EXPLOITATION OF KNOWLEDGE PLAY THE PREDOMINANT PART IN THE CREATION OF WEALTH. KNOWLEDGE WORKERS ARE OFTEN UNDERSTOOD AS “ SYMBOLIC ANALYSTS,” MEANING THAT THEY ARE WORKERS WHO MANAGE SYMBOLS RATHER THAN MACHINES. THEY INCLUDE…… ARCHITECTS FASHION DESIGNER PHARMACEUTICAL RESEARCHERS TEACHERS POLICY ANALYSTS SOFTWARE ENGINEERS

COMPUTER OPERATORS SCIENTISTS

THE RISK OF ECONOMY… IT IS NOT AN ACCIDENTAL PHENOMENON. ATLEAST THREE FACTORS CONTRIBUTE TO ITS EMARGENCE. THEY ARE… Ø ECONOMIC GLOBLIZATION Ø INFORMATION INTENSITY Ø NETWORKING AND CONNECTIVITY § AN IMPORTANT ASPECT OF KNOWLEDGE ECONOMY IS THE “DEATH OF DISTANCE.” § THE TELECOMMUNICATION HAS BECOME MOST COST EFFECTIVE. ONE CAN WORK FOR MNC FROM WHEREVER ON CHOOSES

CHALLENGES DUE TO KNOWLEDGE ECONOMY… §FIRST OF ALL IN KNOWLEDGE ECONOMY HUMAN CAPITAL GENERATES OR MANAGES THE KNOWLEDGE THAT IN TURN EFFICIENTLY AND EFFECTIVELY CONVERTS THE TRADITIONAL INPUTS OF CAPITAL AND LABOR INTO VALUE-ADDED OUTPUT. THIS CHANGE OFFERS MANY CHALLENGES AS FAR AS HUMAN RESOURCE DEVELOPMENT IS CONCERNED

§ SECONDLY, KNOWLEDGE ECONOMY NATURALLY REFORMS THE NATURE OF COMPETITION. AND TO MEET THE CHALLENGES OT COMPETITION THE FIRMS ARE GOING FOR MORE AND MORE R&D EXPENSES ALONG WITH PATENTS, COPYRIGHTS, AND TRADE MARKS.

PATENT LAWS ALWAYS BREED DEBATES…

• PROCESS OR PRODUCT PATENTS? • CAN BIOLOGICAL ORGANISM (THOUGH TECHNOLOGICALLY MODIFIED) BE PATENTED? • SHOULD PRODUCTION OF ALL DURGS BE PROTECTED UNDER PATENT LAWS INCLUDING LIFE SAVING DRUGS FOR POOR PATIENTS? • PATENTS LAWS INCREASE MONOPOLY.

§ THIRDLY, KNOWLEDGE ECONOMY CREATES MUCH WEALTH. BUT IT HAS NO INNER MACHANISM TO ALLOW THE DESTRIBUTION OF WEALTH ACROSS SOCIAL DIVIDES. IT DOES NOT CREAT TOO MANY INDIRECT JOBS WHICH MAY ACCOMMODATE THE TECHNOLOGYILLITERATE ALSO. § FOURTHLY, THE PRESENCE AND OPERATIONS OF MNC ARE ON AN INCREASE IN KNOWLEDGE ECONOMY. IF THE MANAGEMENT IS NOT VIGILANT ENOUGH THE MANIPULATION OF NATIONAL INTERESTS OF THE HOST COUNTRIES,

(2) PEOPLE OUTSIDE THE MARKET… IT SEEMS THAT BUSINESS MANAGEMENT IS DECISIVELY GOVERNED BY THE IDEA THAT PEOPLE WITHOUT PURCHASING POWER MEAN PRACTICALLY NOTHING TO BUSINESS. BUSINESS DECISIONS MUST ACCOUNT ALSO FOR THE COMMUNITY IN WHICH THE FIRM IS LOCATED.

CHALLENGES FORM THE PEOPLE OUTSIDE THE MARKET…

§ FIRSTLY, REDEFINE BUSINESS IN THE LIGHT OF CERTAIN CORE VALUES WHICH CAN EXPAND THE SOCIAL RESPONSIBILITY OF BUSINESS TO PEOPLE OUTSIDE THE MARKET AS WELL. § SECONDLY, ENLIVEN THE MORAL IMAGINATION OF BUSINESSPERSONS SO THAT THEY SHALL NOT REDUCE HUMAN BEINGS INTO homo oeconomicus.

§ THIRDLY, RE-IMAGINE THE PROFESSION OF BUSINESS MANAGEMENT AS A VOCATION. IT IS IN CONTRAST TO UNDERSTANDING BUSINESS MERELY AS A PROFESSION. VOCATION SEEMS TO CARRY THE SENSE OF LIFE COMMITMENT, ALLOWING IT THE CAPACITY TO GENERATE MEANINGFRLNESS IN LIFE

§ FOURTHLY, RESTRUCTURE BUSINESS STRATEGIES, PAYING RESPECT TO ITS WIDER SOCIAL RESPONSIBLITIES.

(3) BUSINESS AND SPIRITUALITY… A SPIRITUAL OUTLOOK IS SOMEWHAT PRESUPPOSED IN INDIAN BUSINESS. • SPIRITUALITY IS RELATED TO WELLBEING, INDIVIDUAL MOTIVATION, TASK EFFECTIVENESS, ORGANIZATIONAL CLIMATES. • IT IS UNDERSTOOD AS A PROCESS OF SELF-ENLIGHTENMENT. • IT HELPS THE PEOPLE TO FOCUS ON STRATEGY AND IT DEVELOPS

CHALLENGES FORM SPIRITUALITY IN BUSINESS…

THE CHALLENGING TASK OF BUSINESS MANAGEMENT IS TO SEEK WAYS AND MEANS TO INFUSE MORE SPIRITUAL VALUES INTO BUSINESS HUMAN RESOURCE DEVELOPMENT STRATEGIES THAT FAIL TO PAY SERIORS ATTENTION TO SPIRITUAL NEEDS OF EMPLOYEES OF A FIRM MAY HAVE TO PAY THE PRICE FOR IT IN LONG RUN.

CONCLUSION…. BUSINESS MANAGEMENT HAS TO CONSTANTLY EVALUATE AND ADDRESS INTRA-DISCIPLINARY CHALLENGES NOT TO REDUCE BUSINESS INTO AN EXCLUSIVELY ECONOMIC ACTIVITY.

THANKS.