IntroductionWhile working in a business organization, members are organized into certain rules and regulations to achieve the required objectives effectively and efficiently, known as management. India's economy begins with the Indus Valley Civilization, where trade was significant. After 1500 years, classical civilization appeared, known as the period of greatest economy of ancient and medieval India. In a book, The World Economy: A Millennial Perspective, Angus Maddison described that “India was the richest country in the world and had the largest economy in the world until the 17th century AD.” Throughout the history of independence, India has followed extensive public ownership, regulation, bureaucracy and trade barriers. Objectives • Understand management. • Management functions. • Understand traditional Indian management. • Businesses in India before 1990s. • Management of family businesses or management in Hindu Family Joint Ventures.• Changes have occurred in the management of Indian businesses after the opening of the Indian economy.• LPG (liberalisation, privatization and globalisation) policy.• Current style of Indian management.• Top 3 well-managed companies of India.• ConclusionWhat is management "The essential ability of management is to induce individuals to cooperate in achieving the objectives and destinations of an association. • The management methodologies include planning, organizing, directing and controlling • An essential part of management's ability is the distribution of limited resources of organizational resources to achieve the organization's objectives by four main management functions: Planning, Organization, Le...... middle of paper ......nt owned the majority of business sectors. Joint Hindu Family Businesses: Management work was done by family members headed by KARTAKarta: head of the family who took all the business decisions. Changed style of Indian management: Implementation of LPG policy. Entrepreneurs have recognized the need for a manager due to the international competitive business environment. LPG Policy: Implemented in the 1990s to free Indian businesses from restrictions resulting from liberalisation, privatization and globalisation. Current Management Style: Management has now become a mix of organizational skills, management practices and corporate culture that distinguish Indian businesses from companies in other countries. Conclusion: After adopting new management methods and hiring high caliber managers, Indian businesses are now progressing at a very competitive speed and competing with world class companies.
tags