Managing Organizational & Management Challenges in India INNOVATION MANAGEMENT Post liberalization India has grown relentlessly in every field

. With the advantage of low cost labor, Indian companies have gone global by acquiring foreign firms, competing with MNCs and producing great results. However to continue development, Indian companies need to recognise and respond to major challenges posed by the ever changing business scenario. The tendency to rely on low price alone as the preferred strategy to win new business is not going to work for a long time. Our pricing strategies are already undercut by Chinese companies with lower operating costs and to distinguish ourselves we need to find new solutions. Contrary to what some leaders believe, we are not living in a time of simple linear change. Rather, we are in the middle of the earliest stages of what can be described as profound, accelerating and intensifying disruption and discontinuity, i.e., a genuine paradigm shift. We are situated in a brand new context, one in which doing more of what we’ve always done simply will not work. So what must companies do? During the last decade businesses in India are redefining global industries through incremental innovations in product, process and business models. But where is the Indian Google or Microsoft? While the pursuit of innovation cannot absolutely guarantee meaningful growth, it is the best strategy most enterprises have for achieving sustainable growth over time. Innovation Management is one of the biggest challengs Indian Companies are facing. As a leading newspaper recently put – “INNOVATE OR DIE”… Innovationeter Drucker defines innovation as 'a change that creates a new dimension of performance'. It is harvesting the deep insights of an organization’s human spirit and knowledge, generating a pipeline of ideas that are evaluated, selected and ventured using disciplined tools,... Management Challenges Managing a business and its employees is and art and a skill. In today's business environment, companies make millions one quarter and file for bankruptcy the next. The business climate is volatile at best. The challenges for a business and its managers are many indeed. Any business and the managers in that business today will have to deal with, technology, diversity and multicultural employees and customers, globalization, the economy, ethics of the organizations employees and clients, obtaining good leaders and managers, then finally training them and knowledge management. This paper will look at those challenges that a business must face on a day-to-day basis. Technology innovations are changing the way companies are being managed and run. From giant companies like Wal-Mart to small businesses, all are affected by technology (Dessler, 2001). For example a company that sell clocks and plastic products has changed dramatically from the 1970's. In the 1980's they would have purchased a fax machine and got a 800 number. In the 1990's pressured by large customers, added electronic data interchange. Now half of the companies orders arrive via modem going straight into the company's computers. Errors in data entry and ordering have disappeared and costs have dropped (Dessler, 2001). A manger of customer service is doing a totally different job today than he or she did in the 1980's, and 1990's. Today the manager must be up todate

. If a manager is not communicating well in these areas. Verbal communication is straightforward: it is the words you say (or do. Hence the Internet is not a value added. This communication includes verbal. understand it and in many cases be able to fix it.. Not surprisingly. as well as manage his or her employees. Challenge #2: Not Communicating Effectively Almost everything a manager does involves communication. and bosses about a variety of subjects. Her first responsibility is to run her department efficiently. For example. He or she must communicate with employees. and written efforts. . and their own professional careers.. A company that takes advantage of the Internet and uses it as a functional tool to gain market share is making the most of the emerging technology. Many managers do not see the benefit or opportunity of having a sharp web site or even offering online ordering. The Internet has changed the way companies are managers and doing business. customers. She lets them do what they want because she feels uncomfortable correcting their unprofessional behavior.on the technology used. people. chances are. non-verbal. She must find a way to balance her personal relationships with her professional responsibilities. Susan is a "friend" to several of her employees. the remaining employees resent her actions and have complained to her boss.. he or she is not a very effective manager. Susan is supposed to be a manager but she is not actually managing. other managers.