Yes! Indeed the western recession is really the beginning of good news for India! But to understand that, I’ve to take you away from the topic of western recession for a while... to the Japanese recession! For years, I’ve admired the Japanese style of management as a management teacher and given its examples in scores of my workshops. However, over the last one decade or so, I’ve been continuously facing one key question from my workshop participants – mostly CEOs from top corporations of India Incorporated. Their question to me invariably has been, ‘If the Japanese management style is as wonderful as described, then why has Japan been in a recession for the last decade and more?’ This question is what I guess one needs to understand first, if one has to really understand the beauty of the current western recession. My answer to this question has always been very simple. I believe culture plays a very important part in shaping up economies. What succeeds in one culture fails somewhere ...
Dr. Arindam Chaudhuri
(An IIPM Think Tank Blog)