1. CHALLENGES BEFORE FUTURE MANAGER
Earlier,whatrarelyconsideredasthe majorchallengingfactor(s) before the leadersof Indiancorporate
sector,have nowreallyreckonedasthe genuine challenges ratherimpendingfactor(s) forthe growth
and sustainabilityamongstmodernmanagers. The role of managersis tobuildthe organization andto
run the organization.
Today buildingof anorganizationmaybe easiertaskdue tothe assistance full presence of the either
Govt. as an impactfull adventof postmodernizationreformation,buttorunthe organization,ina
desiredmanner,inanenvironmentandplace,full of instabilitywithvariableregulatoryscopesare one
of the toughestchallengesforfuture managers.
Before analyzingthe otherchallengingfactors,we have toexamine the basicsonwhichIndianeconomic
developmentare based,knownasstrategicelements.
Justafter postindependence,the developmentalstrategieswerefocusedonfourbasicelements,
popularlyknownas“key”elements (1)Basicandheavyindustry(2)CentralizedInvestment
planning(3)Introductionof publicsectorunits&(4)Import –Exportequilibrium.We mustkeptinmind
those strategieshadenabledustomeetthe prospectivegrowthbymaintainingmoderateinflation,
despite droughts(duetoheavy orlessmonsoonwateravailability),Oilprice hikingatshockinglevelrate.
And, afterat leastthree majormilitaryconflicts.
Aftera decade,all the aforementionedelementswere begunto guide bytypical jargonsof regulatory
formalities,mostlywithamissionof bureaucraticcontrol andnotwitha visionof natural economical
growththroughnormal procedural course.Unfortunately,those strategicallyapproaches,gave usa
seriesof political project,withoutfurthermore commercial viability,ascenarioof license permitraj
appeared,whichcausedprotectionismculture forthe undesirable unitsincludingthe private units
fromcompetitors;through,favorable tariffsandquotasaroundthe country.
The over all impactof such licensingraj hasbeenable tocease the opportunityof natural andnormal
growthand Indianeconomyoverpoweredbyfiscal dominance.
We andour erstwhile managershadtocarry the businessof affairsinsucha nefarious nexusfull
conditionsfor,longthree decade (1960 to Late 80’s) in continuation.Owingof absenteesof
competitors,particularlymulti nationalsplayers(The onlymultinational wasHindustan lever,now
Unilever,inF.M.C.G.Sector) butnone wasinbasic or domesticindustrial units,i.e.cement,steel,auto,
chemical,powerorinAgriculture,andtextiles e.t.c, Surprisingly,pharmaceuticalsandpaintswere under
the clutchesof foreigninvestorsbecause neitherthe favorite private playersnorthe governmentwasin
a mood to putforwardsuch manufacturingunitsintothe alreadymentionedlists.
An eraof monopoly adopted,all mostall the playingplayerswere allowedtolootandexploitthe
natural as well ashumancapital underthe courtesyrather loopholesof governmental norms.“Rulesfor
fools”slogan became the head line;seller’schoice wasthe final andgrantedinthe societyandwhatis
acceptedbythe society,became legal.
Seller’schoice ablemarketwithlittle optionforcustomershasbeenlustedtill the late 80s.The storyof
reformation;means,Liberalization,PrivatizationandGlobalization(L.P.G) fortunatelybeguntoroam
aroundthe airnot due to overcome withthe, overdominatingatmospherecreated due tothe
confinementattitudesandconservativebehaviorandorto combat the monopoly,butinorderto check
the balance of paymentcrisis,whichforcedthe thenGovt.to pleaforimmediate accommodationof
fundsfromInternational MonitoryFundin1991 andfollowedbysubmissionbeforeW.T.O.under

2. (2)
Certaintermsand conditions(GATT). Thissituationaleventmade ourIndiaa free trade zone toall,
furthermore openingsforeachandevery playerwithaconceptof buyer’s choice.
AfterGATT Agreementmajorityof the monopolisticlawsbecame irrelevant andthe IndianEconomic
systemhad beenredefined withasloganof “performorperish”. Those wordsbecame new MANTRA
for the managersand management,whowere competentbutnotfavorable bythe government.Anew
era has begunandthe role of managersredefined,jobswere enlarged,the raw materialsearlier
consideredaswastagesnowappearedasthe assetsandemployeesare startedtotreatednotmerelya
staff memberbutas capital of the organization.The genuine challengesbroughtbefore usandevery
managerstatedto adapt thenas earliestbyutilizingthe adventof INFORMATION TECHNOLOGY(I.T) to
grab the maximummarketshare throughlatestavailabletechnologyandskilledfull manpower.
During80s to introduce more usesof computerbasedfacilitywasthe biggestchallengesbefore the
managerswhorealizedthe amazingrole of computersineveryaffairsof business.Thismantragivesusa
sense of accountability,andtransparencies,above all globalpresence withoutmuchphysical
movements,usuallyincurredmore costandlessproductivity.IndiaandIndiannationalshave witnessed
the closersituations of service andproductorientatedorganizationslike;Postal Dep’t.,H.M.T, i.d.p.l.
and the entire Agrobasedindustries due notnonadaptationsandcompliance of the information
technologiesasshouldhave beentosustainwithglory.
If we considerreformsasthe measure of ourgrowth thenhow muchhave we beenmanagedtorecord
themincomparable to otherAsiancountries?Those alreadypostedanotable presence,ateach
interval!!OrInotherwords;”Whatare the challengesfornextdecade,before ourfuture managers.
Comparablyare we and our economyissounderthanourcompetitorsorwe could accomplishthemby
surpassingtheminnearfuture?The answercouldpossiblybe foundfromthe growthrate table,
mentionedbelow;
GROWTH RATE ARE SHOWN IN PERCENTAGE(1981-2008)
COUNTRY 1981-90 1991-97 1998-2003 2004-08
INDIA 5.6(5.4) 5.3(5.7) 5.7(5.5) 8.1(8.3)
CHINA (MainLand) 8.9(8.8) 10.3(10.2) 8.0(7.8) 10.7(10.5)
CHINA-(HONGKONG) 6.3(6.2) 5.5(5.3) 2.2(2.4) 6.1(6.6)
SINGAPORE 6.9(7.5) 8.4(8.2) 2.7(2.2) 6.5(7.5)
BANGLADESH 3.9(4.0) 4.5(4.5) 5.0(5.0) 6.1(6.1)
INDONESIA 5.3(5.4) 6.7(6.8) 4.0(3.9) 5.6(5.6)
KOREA 8.3(8.3) 6.7(6.8) 3.9(5.4) 4.1(3.9)
MALAYSIA 5.8(6.2) 8.8(9.0) 2.7(3.4) 5.6(5.7)
PAKISTAN 6.0(6.0) 4.1(4.2) 3.5(3.3) 6.4(6.3)
THAILAND 7.6(7.3) 6.5(7.6) 4.7(4.9) 4.6(4.8)
SRILANKA 4.2(4.3) 5.1(5.1) 3.8(4.6) 6.3(6.3)

3. (3)
Note:-Figuresinbracketrepresent the growthrate byomittingthe highest&lowestobservationsover
each sub-period/tenure.Source:-International Financial Statistics,I.M.F.
The above table,depictsthatour latestgrowthrecordhas beenina betterpositionotherthan
China(Mainland).
The impact of L.P.G.haspromotedIndiainG.D.P.rankingsfrom93(outof 109 Countries) in1970 to 58 by
2004.
Participatinginvestmentsinproportionof G.D.P.have aroundequallywell butnotsatisfactoryin
proportion of entire populationstrength.The currentrate is15%, itwas 23% during80s.
Despite all Indiahasnowone of the favorable choicesinthe openeconomywithanexportshare of 20
%( G.D.P. percentile),whatearlierwasonly,5% duringmid-sixties.
But facts are fact, neitherignorablenorhide able tooeasilytopainta“win-win”shiningpicture and
start to behave there islittle challengesbefore ourfuture managers.
Fact is,73% of total populationmeans792 millionsIndianstill surviveonlessthan1 dollarperday and
94% live onlessthan2 dollarperday. There are onlyone lakhperson,across the countryon record,who
earn10 lakhor more amountper month.About77% of the entire populationhavinganincome below
Rs.20 (meanstwofoldof official povertyline) only!!
Let ussee the Human DevelopmentIndex of
Australia,U.K,U.S.A,Brazil,China,Mymnar,Pakistan,Nepal andBangladesh incomparisontoIndia.
[**N.B:-------Table No.A17.1(HUMAN DEVELOPMENTCHARACTERISTICSOFSOME SELECTED COUNTRY
WILL BE INSERTED HERE……..) Sentin separate file]
All the aforementionedfactswithreliable figuressuggestthatthe mainchallengesbeforeusis‘Inclusive
“growthof thisill fated landandthat kindof growthfull developmentispossible,whenthe financial
healthof thisland will be insoundcondition,there fore anEconomicstabilitycouldonlybringusa
healthycondition.
We can meetthe challengesif,we don’tignore the statementof one of the Directorof SwissBank
“There are more than 369 lakhcrores of Indianmoneyare bankedwithus,the amountcan easilybe
utilizedasthe furtherallocationsfornextthirtyyearsNational Budgetaryfundwithoutleviedanykind
of taxesonthe civilians,more over,sixty(60) croresEmploymentispossible,oreveryvillagesof India
couldbe connectedthroughfourlane highwayswithNational capital territoryE.t.c…………
The heftystockof amountshouldhave beenliquidatedearlier,unfortunatelynow becomesthe
responsibility andhasbeenshoulderedtothe nextgeneration.
If we could,theninflationwouldnotrose toa 13 monthhigh99.880 and our Central Bankneednotto
be in dilemmaasneverbefore.
In additiontomanage the volatile rate of inflation,(Averagerate is1.85) the future manager’s
challengesare howtosustaininthe corporate arena witha ecofriendlyperformance andwithout
compromisingwiththe greedof Humancapital incomparisontoavailabilityof Natural capital,now
consideredasNational assetsforfuture generations.
Geographicpenetrationbyminimizingthe politicalboundaryis welcome,butnotbyexploitingthe Land,
Water,Forests and Mineralsof suchvirgin land,particularlyof suchlocations where Bio-diversityyetto
be diversifiedwithabnormallevel of Carbonsharinginthe respective operations.
Managers have to developatransparentrelationshipbetweengrowthof the service andindividual,
thengroupthe organization andfinallywiththe society(Shareholders) andthere after,with the
Governmentorthe Countryat large.
The sense of corporate responsibilityismuchmore essentialthaneverbefore,because the Customers,
Governmentandthe Societyneitheras a whole,neitherdependentnorwithanoptiontoprotect you

4. (4)
and yourorganizationin todaysopeneconomicratherinan everchangingEnvironmentasearlierhad
been.
Andfinally,withwhomyouare goingtoface the challenges,whoare yourresource person,funding
agency? Afterthat,it isthe majordutyof everygoodmanagerto be aware about the performers,who
convertthe inputs into desirable outputsandabove all,forwhomyouasmanagereitherintrinsicallyor
extrinsicallymotivatedtoparticipate?E.t.c….
All those questionscanbe answeredindifferentlyinasingle line----Allocationof scarcityof fundas
necessaryasby whomfundisbeingallocated.Next isthe phase appearingasthe performingcapacityin
line position,whethersuchactivitiesare arrangedinorderas notonlypart of the dutybut an accounted
responsibility forfuture manager?Hence Managershasto educate,trainandguide those arranger
(Organizer/Supervisor),not underthe airconditionatmosphere butbyperformance,throughthought
provokingpresentationwithaloadandsense of if I can whynot u? Because humanbeingishabitual of
learningandlike toreciprocate andimprove theirskillsif andwhenproperlyguidedbyaknowledgeable
manager.Efficiency,sincerity ,integrityandmotivationalfactorsproperlyandpossiblybe resourcedas
the toolsto overcome the threatsof future challenges.
Jaideepchatterjee
Sr.Lecturer,ManagementStudies,
D.I.M. (C.M.T.)
Member-A.I.MA,I.I.P.A,N.I.P.M.,I.B.S.A&N.H.R.N.