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

WHEN ONE DISCIPLINE IS STUDIED

REGARDING CHALLENGES WITH OTHER
DISCIPLINES.
BUSINESS MANAGEMENT ALWAYS GETS
HELP FROM OTHER DISCIPLINES LIKE-
Ø ECONOMICS
Ø SOCIOLOGY
Ø CULTURAL STUDIES
Ø POLITICS
Ø LAW
Ø 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 INTRA-
DISCIPLINARY CHALLANGES
THE BUSINESS MANAGEMENT HAS
MANY DISCIPLINES OF ITS OWN LIKE-
SALES, 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

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 COMPUTER OPERATORS

SOFTWARE ENGINEERS 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 TECHNOLOGY-
ILLITERATE 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 WELL-
BEING, 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.