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Essay / Business Management Essay - 1316
IntroductionWhen working in a business organization, the members are organized according to certain rules and regulations to achieve the required objectives effectively and efficiently, known as management. The Indian economy begins with the Indus Valley Civilization, where trade was important. After 1,500 years, classical civilization emerged, known as the greatest economic period of ancient and medieval India. In a book titled The World Economy: A Millennial Perspective, Angus Maddison described that "India was the richest country in the world and had the world's largest economy until the 17th century AD." Throughout independent history, India has followed extensive public ownership, regulation, red tape and trade barriers. Objectives • Understand management. Joint Hindu Family Businesses.• Changes took place in Indian business management after opening of Indian economy.• GPL Policy (Liberalization, Privatization and Globalization).• Current style of Indian management.• Top 3 Businesses well-managed in India.• ConclusionsWhat is management?The essential ability of management is to get individuals to cooperate for the achievement of the objectives and destinations of an association.• Management methodologies incorporate planning , organizing, directing and controlling.• An essential part of management capability is the distribution of limited assets.• Assets may be human, budgetary, mechanical or regular.The process of using organizational resources to achieve the objectives of the organization through four main management functions: Planning, Organizing, The...... middle of paper ......nt owned most of the business areas.Joint Hindu Family Businesses: the management work was done by the family members headed by the KARTAKarta: head of the family who took all the business decisions.Change in Indian Management Style: Implementation of LPG Policy. Business owners 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 the restrictions imposed by liberalization, privatization and globalization. Current management style: Management has now become a blend of organizational capabilities, management practices and corporate culture that distinguish Indian companies from companies in other countries..