Should Business Move Beyond Competition Should Business Move Beyond Competition? Panel Discussion Organized by NCS Participants, PGDBM II, XIMB August 17, 2008

Speakers for the Panel Discussion Swamini Atmaprajnananda Saraswati  An ExPGP Alumnus who has become a Sanyasin. She had served as a leading Banker in Middle East. She now runs her own Ashram. Dr. Biju Shekhar Scientist / Professor at Institute of Physics, Bhubaneswar Mr. Nitish Kumar Mishra Senior Advocate in Cuttack High Court in the area of Labour, Industrial Relations and HRM. Dr. Ileana Citaristi She is one of the most renowned Odissi dancer and is a winner of Padmashree Award. She is an Italian but now resides in Bhubaneswar. Mr. Abasar Beuria Retired Indian Foreign Service officer who served in Africa and other parts of the world  Mr. D K Misra Founder – President, Association for India's Development Australia Inc

Issues & Questions

1. Competition Organizations and firms compete to thrive 1. Competition Organizations and firms compete to thrive. Indeed Competition starts from within a family. A student right from his/her childhood is encouraged to compete with his own brothers and sisters in terms of marks and other achievements. The fight between the Ambani brothers is a case in point. So can we say that competition is indispensable?

2. Control of Ownership and Management The fundamentals of business seem to hinge upon these two issues of who owns the enterprise and who takes the key decision for the organization. The best of management structure is usually created to maintain a good control on the assets and resources of the firms and the management process. Can we have shared ownership rather than a handful of powerful owners and a handful of decision makers in a firm?

3. Resources (Capital and Technology) In today’s business, capital and technology serve as the key competitive forces. However, we note that Capital Intensity in a business attracts capitalists to a business and technological intensity brings specialists to a business. Should technological changes be brought about at the cost of dehumanizing our way of living?

4. Economies of Scale We understand that economies of scale can lead to lowering cost and gain competitive edge in the market. Indeed, firms have gone for mass scale production, product standardization, mergers & acquisitions and are recreating monopolies in the world market. What are the problems with such management approaches? Is creativity in the above context getting standardized?

5. Opportunism Every business advises a budding entrepreneur never to get into business with friends and family. Isn’t it assumed that we will get dirty once we step into business? As Williamson argues, if Opportunism is one of the pillars to explain Transaction Cost Economics, How sustainable are our current business models?

6. Inclusive strategy The pressure for ensuring their supply chain, pressure from Civil Society and the increasing concern for image of their companies, the corporate leaders have adopted several inclusive strategies like the paternalistic strategies, vendor development, CSR activities, and micro-financing and other engagements in the rural sector. While the management practices in the inclusive strategies consider the external actors as partners vis-à-vis the earlier perception like those of Porter that they were rivals and posed threats; how sincere are big businesses when they invite vendors, competitors, public at large as their partners? In other words, Is CSR a smoke screen for the public?

7. Profits Profit or Wealth or value for the shareholders or the owners of a firm remain to be at the core for any business enterprise. At times, profits appear more to be a window dressing exercise? Should business be concerned more on Profit than people?

Question & Answer Session

Further Issues Purpose – Profit or People Method – Management method & mode Competition – External or Internal - Profit or Passion How do you cross the barrier of competition – Spirituality? Efficiency Issues