India is fast emerging as an
innovation base and presents a large market
opportunity to companies that are creating economical products and solutions
for the country. At
the same time, India also has its share of challenges in terms of lack of adequate
infrastructure, bureaucratic bottlenecks, complex labor and taxation regulations
etc.
But besides these
major policy or investment constraints, there are these few other norms &
stereotypes typical of the Indian corporate culture, which though are commonplace
for most of us living in India, but if changed will work towards projecting a much
better image of Indian businesses.
As Indians we are mostly casual about managing
time and often tend to take others time for granted. It is not unusual to keep people waiting
endlessly for hours together, after fixing up an appointment for a business
meeting or for an interview. A person in the top rung of hierarchy will not
feel the need to offer the hint of an apology for turning up late, while a
person lower in the hierarchy will have a barrage of excuses for running late.
A common practice for businesses is to
keep prolonging the payment to vendors, service providers, consultants & and
finally not pay up, well knowing that people will refrain from going to courts
due to the hassles and delays in the judicial process.
Lack of delegation of responsibilities or
passing credit down to the team and lack of proper succession planning are
handicaps in most Indian companies.
Gender disparity does persist in our
society and permeates the corporate sector as well. In spite of having some
highly successful Indian women CEOs, India Inc has had an abysmally low
representation of women in senior management positions. Cases of sexual harassment
go unreported or are mostly hushed up, particularly when the person in question
holds a senior position. Recent sacking of iGate CEO has raised questions about
the policies adopted by companies while hiring CEOs with a tarnished behavioral
track record.
The need to be perceived as responsible
companies with high standards of ethics & corporate governance calls for a
change in such practices and norms. Adopting policies and practices to induce a
culture of professionalism is a must for Indian companies with aspirations of
becoming truly global companies.
