Globalization is the notion which becomes more and more actual for the characterization of nowadays situation in the world financial system. The article Management in emerging economies: modern but not too modern which is posted in Critical Perspectives on International Business is one more source of a trustworthy information as for the modern financial processes in a modern world.
This paper presents a critical review on the recent events that took place in the market management. The article considers a critical exploration of the books on outstanding and developing economics and country management. The content of the article is mainly connected with the peculiarities of social and economical situation in the developing countries like India, Russia, China and Brazil. The article provides a sociological approach to the compound part of the economy of developing countries by the authors who spent much time living in the countries described.
For instance in the book by Abeywickrama, the author shares his experience about living in Sri Lanka and Delhi, where the author spent some years. The economical process is manifested as a collaboration of many communities and various financial companies in the context of globalization. The most vivid example of his experience is the description of the social cooperation in a case study “of the treatment of Dalit sanitary workers in New Delhi” (Abeywickrama, 2007). This case study is manifests the problem of continuing race and social discrimination provoked by global marketing and the rudiments of medieval caste hierarchies. Thus, in a highly developed and ultramodern Delhi it is still possible to cross upon the humiliating and violating of the human rights in the rudest possible way. But the author put to much personality in his work and did not provide an explanatory framework. In other words, the author just stressed out his points of view without presenting any vivid examples.
One more author, who is Pelle, depicts the inequality of development of India in different periods making special attention on the differences of macro and micro index of economy. But the Indian scholarship and business institutions fail to understood this aspect of modernization. Thus, one more prominent author who is Virmani supports Pelle’s point of view in his The Challenges of The Indian Management. “The Indian government continues to manifest and actualize the importance and even the necessity of further financial development within the traditional Indian business schools, paying poor attention on the opportunities to cooperate with the modern global trends” (Virmani, 2007). Therefore, the globalization is favorable for the developing of the national elite of the country.
The modernization is a double-edged sword. The process of the assimilation and integration of the globalizing economies of the developed countries is not always resignedly accepted by the emerging economies. Often, the developing countries strictly resist normative issues of integrating as it reinforces the monopoly of the leaders of world globalization. Thus, such normative issues should be redesigned and take into account the internal social dynamics of developing economy.
Therefore, there are many points for further progress in the theory of globalization as well as in the solutions of inner social and economical situations in the countries with the emerging economy.
Reference List
Abeywickrama,K. 2007. Advantage in Managment. New Delhi: Response Book
Virmani,B.R. 2007. The Challenges of The Indian Management. New Delhi: Response Book