Dipak Basu

Strategic human resource management of Japanese multinationals – A case study of Japanese multinational companies in the UK

We have analysed the human resources management system in Japanese automobile companies, Toyota and Nissan, in their overseas production plants in the UK and have tried to analyse differences if any between their original human resources management system in Japan and in their foreign operations. We found out that these companies, as far as their internal operations are concerned, have tried to implement their original practices in spite of cultural differences. However, in the case of production management system they are not completely successful because of organisational differences in their foreign locations. We have analysed the effects of these novel practices on the industrial scene in the UK in general.

Balance-of-payments policies and structural reforms: An adaptive-control model for India

An adaptive-control model, where parameters of the model will change in response to policy optimizations, is constructed for India and solutions of the optimization process provide the planned paths for some of the most important macro policy instruments of the economy. Comparisons of the planned paths and the actual behavior of the economy show that the capitalistic reform process in India is not a success, but a mixed economic plan would be more beneficial for the economy.

A New Reserve Currency

There has been a recent demand from Germany’s Bundesbank to repatriate a large portion of its gold reserves held abroad in the Federal Reserve of the USA. By 2020, Germany wants 50 percent of its total gold reserves back in Frankfurt – including 300 tons from the Federal Reserve. However, the Federal Reserve refused to submit to an audit of its holdings on Germany’s behalf (www.europacmetals.com). Thus, questions are being raised around the world about whether the dollar is the world’s safe-haven asset and whether the Federal Reserve, a privately owned company, is a trustworthy banker for foreign countries.

Inflation in India

India uses the wholesale price index (WPI) to calculate and then decides the inflation rate in the economy (mospi.nic.in). In India, a total of 435 commodities data on price level is tracked through the WPI, which is an indicator of movement in prices of commodities in all trade and transactions. It is also the price index that is available on a weekly basis with the shortest possible time lag only two weeks. The Indian government has taken the WPI as an indicator of the rate of inflation in the economy.

Central banking in a transitory economy: an adaptive control model for India

The purpose of this paper is to formulate a policy model for the Indian economy, incorporating an expectation generating mechanism in a formal way. The aim is to see how policies will change over time when the expectation of the private sector is changing. In a mixed economy planning has to take into account how the private sector formulates and revises its expectation regarding various government policies and their possible impacts on the endogenous variables (or target variables) in the economy. Normally in an economy like Indias the government formulates its plan for the public sector over the next five years. The government can regulate the private sector by various means, such as licences, investment quotas, tax-subsidy rates, bank interest rates and by various monetary controls. The private sector, knowing the targets of the government, formulates its own expectations regarding the fulfulments of the targets (because it never expects that the government can fulfil its targets exactly) and possible ...

Corporate Governance System of Japanese Multinational Companies: A Quantitative Evaluation

The purpose of this book is to study an unexplored area of corporate governance. The authors examine whether the corporate governance system can be affected by organizational culture, leader culture, and the operations management system in general. In addition, they study how a specific corporate governance system can affect the organizational culture and operations management system and create a different type of leader culture. This is an in-depth study of Japanese multinational companies and a comparison of their corporate governance system at home (in Japan) and in host countries like Britain, India, and Thailand. The authors conducted a series of in-depth interviews with the senior executives of major Japanese multinational companies to construct quantitative models for Japan, Thailand and India, and to analyze the aforementioned propositions.

Near Death of the Organization of India

We call this chapter as near death of the organization of India, because in 1947, India was on the verge of collapse. Lord Mountbatten, the last British viceroy of India, described India in 1947 as a ship burning in the mid-ocean. It was due to the creation of Pakistan to satisfy the demand of the Muslims to create a separate country. The result was the murder of millions, destitution of millions more, and a total disruption of normal life in most part of northern India. In this chapter we have analyzed the reason for the creation of Pakistan so as to create a future military base for the Anglo-American army to deter the increasingly powerful Soviet Union after 1945. That could be the reason that Britain tolerated a dominion army of Pakistan to invade both Kashmir and Balochistan. This chapter narrates that sad history and the background of that destructive process.

Espoused Values and Mission

This chapter spells out the basic theme of these two volumes. A culture of synergy and collaboration—characterized by convergence, closeness, and sharing—must be injected into actual practice of a nation. For that, knowledge of the heritage and ancient past is an essential element. Modern industrial system creates the process of dehumanizing “man” by taking him away from his culture and heritage. Facilitating the development of a new type of citizens means the evolution of a new kind of nation where the economic system gives importance to the cultural heritage.

Distraction, Confusions, and Hostility

The weakness in the organization of India was created by the very person, Gandhi, who is considered to be leader of the freedom movement of India. In this chapter we have analyzed the reason Gandhi has caused a lot of confusion, as his ideas were not rooted in the mission and vision of India. He was against industrialization and he was also against the freedom movement of India. Along with him came at least three other individuals who wanted to break up India. Iqbal was a Muslim writer who wanted to create a pure land for the Muslims. Jinnah gave the shape to that idea by breaking up India in 1947. Another person named Ambedkar wanted to create a separate land for the untouchables of India, however unrealistic that could be. This chapter looks at their idea, method of action, and why they were nearly successful.

Turning Point: Planning and Reforms

The Planning Commission was established in 1951. Its main intellectual support came from Professor P. C. Mahalanobis, who had accompanied Rabindranath Tagore on his journey through the Soviet Union. Thus, Indian state planning tried to emulate Soviet planning, but without nationalizing all means of production, distribution and consumption. India planned to provide essential heavy and chemical industries, a transport system and social protection for the poor, along with the overall dominance of the economy by the private sector. The plan worked initially, up to 1960; however, the Chinese invasion in 1962 and the Pakistani invasion in 1965 virtually brought this planned activity to a halt. In 1966, the IMF advised India to cease all planning. However, in 1969 Indian state planning began again, only to be brought to a standstill by the influx of 10 million refugees and also the war with Pakistan in 1971. In 1974, India experienced a serious economic crisis due to the fourfold increase in the price of crude oil. Thus, India had little opportunity to demonstrate the effectiveness of its planning due to a series of problem caused by external factors. In 1992, along with the abolition of the Soviet Union, which had supported Indian aims, India abandoned its efforts at planning and, instead, opted to engage in free market development. In this chapter, we analyze the complete story of India’s attempts at planning and the new economic policy that India has adopted. The new economic policy is dependent on the continuous flow of foreign capital, which can pose problem due to the increasing balance of payments deficit and non-performing bank loans.