Indian companies need to adopt global management standards
Successful companies are made by the quality of their management — top management particularly — so obviously whom you hire is a major concern because that acts as a determinant of how the company will evolve over the years. The vision of the company is spearheaded by people who work in it and the C-suite leaders are a critical part of this.
Given that the complexion of the companies is undergoing a major change in that companies are becoming international, the way of functioning too is changing. This is bringing with it changes in the style of management. Bringing on the management board leaders who can identify the change in the sector, make significant alterations to the style of functioning and drive the employees to successfully undertake multinational assignments can be a challenge. Then, even after the companies identify the managers in the top position, the very nature of the job of the C-suite manager is getting complicated given that he has to be adept at dealing with international managerial challenges and situations. As the consequence of the changing economic nature of how businesses are driven, there is a shortage in top management.
Source: Business Standards – February 2014