INTERNATIONAL MANAGEMENT INSTITUTE

NEW DELHI

Postgraduate Diploma in Business Management

Term VI: Elective Course: Kulhad Economy

2019-2020

Faculty: Dr. Ashutosh Khanna & Prof. Shailendra Nigam

Telephone: 47194--- / 123 / 109

E-Mail ashutosh@imi.edu; shailendra@imi.edu

Introduction

Indian business systems are fundamentally different from the anglo-saxon informed property rights
based business eco-systems. The predominant pattern is community / family based with innovative local
production and in the past traders with global aspirations. To succeed in the 21 st century one has to do
business in and with this India, also now being referred to by some observers as “Bharat”. This requires
entrepreneurs and managers to build strategic relationships with “Bharat” and hence know how India
produces and consumes; goods and services. Further they need to understand the culturally rooted
internal structures, and ultra-specialized community based business clusters spread across India. The
age of technology has brought the world closer and globalization, till now, has highlighted western
economic and business models. As India re-emerges economically the structures and culture of
business, globally, will also be informed by the way it has always been done in Bharat!

Objectives

This course positions knowledge based, de-centralized and culturally informed business systems where
production and innovation is local but trade and commerce are global; as a core strategic issue for
businesses in the 21st century.
 1. Why sustainability and grassroots innovation have become an indispensable part of business
lexicon?
a. This includes the difference between producers’ and consumers’ economy
2. To recognize that pre-dominantly India is and has always been a culturally and entrepreneur
community driven producers economy
3. Can Indian business systems offer an alternative model for global prosperity in the 21 st century

At the end of the course the students should be able:

 Understand that there is a contextual distinction between, globalization & de-globalization

 To develop a holistic sustainable Innovation strategy which includes not only new indigenous
products and processes relevant to local business but also develop new markets, identify and
proactively seek new sources of supply and constantly organize business in new ways to stay
ahead of competition.
 To design appropriate structures and systems to facilitate critical thinking, leading to
sustainability and innovation strategy
 To appreciate and hence exploit from the environment i.e. benefits of informed participation in
relevant innovation clusters present locally, with a global outlook.
 To capture value by capitalizing on intellectual asset
 To develop capability to unlearn legacy systems and implement organizational procedures as
strategic innovators

Pedagogy

This course will require you to read books, articles, case studies, perform literature and video
search, create a local entrepreneurial event, and investigate live cases from the real world. The
sessions would be interactive where attempt will be made to understand concepts through
discussion of the readings and their application in cases and live real world examples. Hence a high
degree of preparation is expected from the student. You will be required to work independently and
in groups, make impromptu or scheduled presentations of issues and learning’s. Besides the
readings, groups of students will have to work on a comprehensive research project to investigate
and validate some of the key learning’s in a real world situation.

Evaluation Criteria (%)

 Class Participation : 10%

 Individual Projects (2) : 20%
 End Term Examination : 40%
 Group Project (2) : 30%
  Class Participation: Students would be evaluated on the basis of their meaningful preparation
for the class and discussions in class.
 Assignment (Individual):
1. TBA [Audio-Visual (Min.- 5 minutes and Max. - 9 minutes) to be uploaded on respective
YouTube channel]
 Term project: TBA (3-4 members in each group) [Audio-Visual report and reportage (minimum
14 minutes – max 19 minutes) to be uploaded to respective YouTube channel]

Session Coverage Thinkers / Readings / Video links

1-2 Introduction Prof. Vaidyanathan

India and the Global Economic https://www.youtube.com/watch?v=8Lqg6_kmGCE
System https://www.youtube.com/watch?v=BijXrfBnEro

Prof. Swamy
https://www.youtube.com/watch?v=YjR2cUKWHrw

3-4 India as a Cultural – Economic Mr.S. Gurumurthy

System https://www.youtube.com/watch?v=opr6Qn9aVmM

5-6 Village Visit & Urban Local

Market Visit
7-8 Implications of: Unit of Analysis
is Family; Innovation and
Production as local and
Sustainable and Trade as Global

9-10 MSME Panel Discussion

11-12 MSME visit

13-14 Money/ Capital Creation and
the understanding of “flow”
and utilization
15-16 Regulatory compliances:
Challenges

17-18 Next 10 years in India:

Productivity & Growth in Agri &
MSMEs

19-20 Term Project – Video

 Presentations

Core Reading Material

 Vaidyanathan, R: India UnInc.

 Kanagasabapathi, P: Indian Models of Economy, Business & Management

Reference book(s)

 Chanakya: Arthashastra

Other readings

 Chaturvedi, A: Lost Wisdom of the Swastika

Online Magazine / Blogs:

 Kautilya Fellowship Network Blogs

 World Economic Forum
 THNK.org

Journals:
 Strategic Management Journal
 Harvard Business Review
 Sloan Management Review
 Academy of Management Journal