Paradigm Shift in Management Philosophy (eBook)

Foreword 6
Preface 10
Acknowledgment 15
Contents 17
Notes on Contributors 19
List of Figures 27
List of Tables 28
Chapter 1: From Small Is Beautiful to The Fortune at the Bottom of the Pyramid: Management “As If People Mattered” 30
Introduction 30
The Background 31
The Problem: Greed and Human Needs 31
Poverty and Inequality in the PRC 31
The Case of India 34
The Notion of “Big Is Better” 34
The Grameen Bank: Management “As If People Mattered” 36
The Fortune at the Bottom of the Pyramid 37
Conclusion 39
References 40
Chapter 2: A Paradigm Shift in Management Philosophy: Future Challenges in Global Organizations 41
Introduction 41
The Virtual Manager 43
Hybrid Management in a Global Marketplace Paradigm Shift in Management Philosophy
Situational Bias and Blindness 46
Understanding Cultural Differences 47
Communication Considerations 50
A Clash of Cultures 51
Gender Issues 54
Managing Multiple Cultures in a Virtual Hybrid Organization 55
Developing an Effective Management Style 57
Driving Out Fear from the Workplace 58
A Way Forward for Prospective Virtual Managers 59
References 61
Chapter 3: Twenty-First-Century Global Human Resource Management: Strategic Business Partner and Servant Leader 65
Introduction 65
Strategic HR Management 67
Strategy 67
HRM Strategy 68
Surveys of HRM Strategic Focus 73
HRM Strategic Business Partner 79
Strategic HRM SBP as Servant Leader 83
Theory of Servant Leadership 83
Servant Leadership in Action 84
Transformation of Traditional HRM to Global Strategic Business Partner and Servant Leader 87
Conclusion 90
References 90
Chapter 4: Walmart’s Acquisition of Flipkart: A Paradigm Shift in Retail Management Strategy—Current and Future Implications for Various Stakeholders 92
Introduction 92
A Brief History of Flipkart: From Inception to Takeover by Walmart 93
Implications of the Acquisition 93
Walmart’s India Strategy 93
Implications for Flipkart 96
Effects on Flipkart Founders and Top Management Team 98
Implications for Flipkart Financiers 100
Implications for Amazon 102
Paradigm Shifts That Emerge from the Acquisition 103
Convergence of Online and Offline Retail Sector in India 104
Entrepreneurial Ecosystem and Culture in India 105
E-Commerce Governance in India 106
Internet-Based Business Models Beyond E-Commerce 108
The Final Thought 109
Issues for Further Discussion Based on the Likely Paradigm Shifts 109
References 111
Chapter 5: Biased Finance: Understanding Economic Growth 114
A Brief History of Money: Functionalism Versus Chartalism 115
What Is Biased Finance? 117
Goals and Objectives of Central Banks 117
Threats to Economic Stability 118
From Apartheid Monetary Policy to Reconstruction and Development? 118
The Democratization of Commerce and Technological Innovation 120
System D, the Black Market, and the Hustle Economy 121
The Role of the Central Bank in the Digital Economy 122
The Emerging Economy: What’s Next? 123
Recommendations 125
Conclusion 126
References 126
Chapter 6: Current and Future Global Challenges in Management and Leadership: Finance and Quantum Computing 129
Quantum Optimization: Personality Test and Emotional Intelligence Tests 137
Quantum Optimization: Employee Training 139
Quantum Optimization: Best Practices of Management Philosophy 140
Quantum Optimization: Operations 141
Quantum Optimization: How a Manager Navigates Macroeconomics 142
Quantum Optimization: Trust 147
Quantum Optimization: Big Data, Chat Bots, Cognitive Automation 148
Quantum Optimization: Process Improvement 149
Conclusion 151
References 154
Chapter 7: Women in Management: Disrupting the Prescribed Gender Norms 158
Introduction 158
Purpose 160
Conceptualizing the Need to Disrupt Gender Norms in Management 161
Literature Review 162
The Masculinity of Management Positions 167
Gender, Gender Norms, and the Disruption of Prescribed Gender Norms 168
Why Disrupting the Prescribed Gender Norms in Organizations Matters 169
Women in Management and the Future Challenges in Global Organizations 170
Operational Definitions 171
Strategic Recommendations 173
Summary and Conclusion 175
References 175
Chapter 8: Management Philosophy Toward an Ethical Worldview 179
Introduction 179
What Is Ethics? 180
Ethical Problems Which Should Lead to a Paradigm Shift in Management Philosophy 181
Ethics, Social Rules and Self-Interest 182
Historical Pathways of an Ethical Worldview 183
Principles of Accountability and Responsibility 187
Tools and Techniques to Monitor Ethical Behavior 188
Discussion of the Consequences of Ignoring Ethical Decision Making 190
Urgent Problems Facing Humanity 192
The Cascading Implications of Unethical Decisions 193
The Value of Ethical Leadership 195
Trust and Ethics 196
Conclusion 197
References 198
Chapter 9: Roles and Responsibilities of Future Managers 200
Introduction 200
Change in the Workplace 202
Corporate Lattice Model 202
Artificial Intelligence (AI) 202
Machine Learning (ML) 204
Human Cloud 204
Future Manager 205
Future Challenges 206
How to Face the Challenges 208
Psychodynamics 210
Strategic Posture 210
W.L. Gore & Associates Ltd.
Samsung 211
Google 212
General Electric 213
Whirlpool 214
Conclusion 215
References 217
Chapter 10: The Future of the Banking Industry and Management Impact 219
Introduction 219
FinTech Dominance 220
Blockchain Will Be New Disruption 222
The Results Are Astounding 224
Regulation Changes 225
Customer Activity: A New Revenue Stream 226
Customer-Centric Service Model 230
Conclusion 232
References 232
Index 234