The new economic environment is primarily marked by the freeing of shackles for entrepreneurship and economic growth. The "license system" has been replaced, to a great extent, by a "market system". The challenge of Human Resource Management (HRM) practices would be to create an environment of resilience, which can accommodate and assimilate successfully changes in systems, structures, technologies, methods, etc. People would have to ascribe the right meaning to the change process. India is well-equipped to succeed on global markets. It has a pool of highly educated people, a well-developed judicial system, democratic governance, an established banking industry, and fairly sophisticated and inter-linked fi nancial markets. Knowledge industries will be at the vanguard of economic opportunity, and India will be poised to take advantage of this trend with its corpus of highly skilled people.
No takes yet. Share an insight, caveat, or question.
Anil Kumar Singh (2010) studied this question.
Synapse has enriched 2 closely related papers on similar clinical questions. Consider them for comparative context: