Indian Models of Economy, Business and Management - Book Review

International Journal of Global Business and Competitiveness, 2012, Vol. 7, No 1, pp 52-53

Review of Book : Indian Models of Economy, Business and Management, Second Edition
Author: Dr. P. Kanagasabapathi
Publisher: PHI Learning Private Limited
ISBN: 978-81-203-3888-3
Pages: 318

Book reviewed by Ashish Sharda

The book ‘Indian Models of Economy, Business and Management’ in a stepwise manner deals with various key learning’s to be taken by modern day economists and managers to think beyond their compliance with unsustainable paradigm of modern day economy and business in general. Starting with a context of Emerging India, the book helps you traverse broadly through the world economy since 0 CE (around 2000 years back) to till date.

The initial chapters of book cite certain facts, which provide an insight to the world economy depicting position of India as a super power for centuries. A stepwise description about impacts of colonialism in dethroning super powers as India and China and emergence of new super powers as USA and UK certainly proves the deep research undertaken over years by the author. The distinguishing factor over here is the high prevalence of citations and sources by the author to support the theories written therein. The story of India being ruined by colonizers to not only bankrupt its economy but also devastate its education, culture, professional life cycle is enriched with enough statistical facts to provide a really deep insight about the extent of harm done to the country as a whole.

The key features relating to the strong foundations of Indian businesses for centuries have been distinctly highlighted. Inclusion of learning’s from Indian scriptures, societal practices and business communities spread over different regions are certainly important points to ponder.

• The later portion of the book deals with global models of economy, their pros and cons. It also critically analyzes each of these models to discuss the reasons of their subsequent failures in shorter time periods.
• Certain tables and text encompassing comparison of economic models and practices of Global and Indian both in ancient and current times provoke the reader to think about the uniqueness of Indian culture as a vital ingredient to sustainable business practices.
• The current day Indian economy has been analyzed with a perspective of entrepreneurship. There are several instances wherein author hints about the unique edge Indian practices could give to the business world so as to restore the respectable position in times to come.
• In the pre end phase, author describes how the desire of imitating western practices are not only putting in risk to our culture but are also weakening the highly sustainable business practices which are the very basis of our global standing and success.
• Lastly, author presents a picture of recent emerging India. Facts certainly are eye opener to those who are highly biased regarding progress of modern India.
• Author concludes highlighting India does descend from a superpower to a weaker nation and then is now striving strongly to make out its standing unparalleled again in the modern era. He stresses the need to introspect our own culture in order to ascertain the factors of competitiveness highly tacit to win the race of achieving excellence.

Analyzing the Book

Strengths

• It is highly inevitable to appreciate the amount of research & hard work being done to compile and correlate the facts and statistics relating to ancient Indian business and culture.
• The comparative analysis of western and Indian models is a result of deep synthesis of varied number of studies carried out by the author.
• The tone of the book makes one think about the uniqueness Indian culture has and its potential to harness the business avenues not realized as of yet.
• The large number of references and citations provided at the end of each chapter clearly bring out the beauty of extensive research done.

Weakness

• At certain points in the book, certain facts are cited so strongly that it might make a modern day reader think that author is biased to cite strong facts about his nation. Though, all the sources are cited ones, but higher concentration of such information in certain positions may stumble in building connect of book to youth.
• There is a little lack of stress in bringing out the positives of the western models. We also need to learn that what could be the best take-away from the practices in west. An amalgamation of the best business practices from India as well as from west could be more vital in laying foundation of globally sustainable model of economy and ending up the vicious economic cycles.

Implications for International Competitiveness and Business

The book is highly relevant for professionals working on or aspiring to work on any dimension of international competitiveness and business. Several powerful sources of competitiveness are hinted at in the book that a discerning professional should be able to grasp. Considering intensifying competition from international giants in India, so many firms will need to evolve survival to strength strategies. Mounting trade deficits will intensify need to export for firms sooner than later. The book provides several clues for leaders in firms, other organizations, families and individuals.

Overall Comment: Highly Recommended

The book is an excellent read not only for business people, managers, economists, bureaucrats and politicians but also for researchers, students and other reader communities as well. It makes one realize the rich culture India possessed and gives  several key learning for the success of businesses at an individual level and for the economy of India, which is more responsible and sustainable among many countries. 

Ashish Sharda  completed his MBA from Delhi School of Management, Delhi Technological University and B.Tech from Bharati Vidyapeeth’s College of Engineering, New Delhi. He pursued certification in Enterprise Management from DMS, IIT Delhi. He served as Senior Adviser to PAN-DCE-DTU, the International Alumni Advisory Committee of Delhi Technological University and as adviser to the Entrepreneurship Cell, DTU. He pioneered the drive for improving competitiveness of Bawana Industrial Cluster, New Delhi. He has published research articles on Renewable Energy, ITES, SCM, Marketing and Competitiveness in conferences, journals and books of national and international repute. Currently, he is working as an Analyst with a leading market intelligence firm in Hyderabad, India.