The India Way: Lessons for the U.S.

We describe a distinctive approach to business associated with the major corporations in India and contrast it with practices in the United States. Specifically, the Indian approach eschews the explicit pursuit of shareholder value in favor of goals associated with a social mission. These companies make extraordinary investments in their employees and empower them in decision making. These practices combine with a distinctively Indian approach to problem solving to create a competitive advantage that has led to spectacular business growth, not just within India but in international markets as well. A particularly important lesson for the United States is that the major Indian companies are not succeeding despite the fact that they are pursuing a social mission and investing in their employees. They are succeeding precisely because they do so. [ABSTRACT FROM PUBLISHER]