Thinks 474

HBR: “In 2021, when we asked executives from 60 companies around the world how their managers were doing, we got unanimous reports of frustration and exhaustion…The problem isn’t hard to diagnose. The traditional role of the manager evolved in the hierarchical workplaces of the industrial age, but in our fluid, flatter, postindustrial age that role is beginning to look archaic. The irony is that we actually need great people leaders more than ever…In this article we’ll make the case for redefining and even splitting the role rather than simply continuing to let it evolve, which is a potentially costly and disastrous course of action.”

The Generalist on AngelList: A Venture Constellation. “Naval Ravikant’s company is both a unicorn and a creator of unicorns. It may just be getting started.”

Anticipating The Unintended: [The PM’s and FM’s] words indicate that the primary goal of Aatmanirbhar is quite clearly Import Substitution Industrialisation (ISI). The goal of becoming a major export power is now a distant second goal. ISI as a developmental strategy for India is as old as the Republic of India. After independence, as part of ISI, trade and economic policy measures were designed with the explicit aim of replacing foreign imports with domestic production. India went for one of the most extreme versions of ISI across the world. The results are for all to see. And yet, we seem to be going back to that path. Moreover, this focus on reducing imports misses the point that imports are critical for exports. They allow a nation-state to build on its own strengths while leaving it to other countries to produce what can’t be done efficiently here. And so, it shouldn’t surprise us that as exports rise, imports will also rise concurrently. The world’s top two exporters are China and the US. And the world’s top two importers are also the US and China. There is no contradiction here. Hence, the government’s obsession with reducing foreign dependence is anachronistic and self-defeating.”

 

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Rajesh Jain

An Entrepreneur based in Mumbai, India.