Academic journal article South Asian Studies

Necessitating Human Resource Management Model in South Asia: A Rationale Perspective

Academic journal article South Asian Studies

Necessitating Human Resource Management Model in South Asia: A Rationale Perspective

Article excerpt

Introduction & Problem Background

Asia, besides west, emerged as a separate business entity after WWII. Firste it was Japan, with concepts like JIT, TQM, kaizan, ringi and other universally appraised practices (Nonaka & Takeuchi, 1995); followed by Malaysia, Singapore, South Korea and Taiwan. While looking at these tiger economies it was apparently visible that investment in human development was the prime reason of their development (Mok, 2008). In recent past, China has emerged with a leading economic role in the world. The Economist termed it as Bamboo Capitalism (2011), while Yergin and Stanislaw called it 'Chinese capitalism' (2002). Recently the 'Indian way' has emerged as a way to handle large Indian business tycoons by focusing on both social and human development mission (Moore, 2011). With the shifting of manufacturing facilities to Asian continent, there is a dire need to study the ways organizations are managed in this part of the world (Kristie, 2010; Power, 2011). More recent of all is the extending silk route project of China Pakistan Economic Corridor (CPEC), which is based on road, rail, sea related communication and auxiliary projects. Moreover, extended peace in the country for last few years has also opened new horizons for investment and it is expected that the GDP growth will surpass 6% (Rana, 2015; Shannon, 2016).

The increased interest in India and Pakistan has brought many fold benefits to this part of the world. The foremost is the focus from host country national perspectives, that how such firms are actually successfully implementing their management practices that make them grow to other parts of the world (Khilji, 2012). Second, these findings provide an evidence to follow for all organizations moving to this part of the world (Gulati, 2010), thus upbringing the perspective of 'east meets west' of Chen and Miller (2010, 2011). Thus increasing the horizons of the subject of international business. Third it takes the world attention to South Asia, a neglected and least developed part of the world with oldest cultures and largest population (Khilji, 2012).

Economic Significance of South Asian Countries

Along with high (real or potential) growth in South Asian economies, there are some unique demographical features offering distinctive position to this part of the world in global economy. The foremost is the size and growth of population in this part of the world. This part of the world covers 24% (approximately) of the world population (World Bank, 2011a); while India, Pakistan and Bangladesh stand at 2nd, 6th and 7th ranks in world's most populous countries. While looking at the growth, it is estimated that world population will reach to 9 billion by 2045, while the share of these three countries to world population would be 30% (Population Reference Bureau, 2011).

Moreover the share of young population in this part of the world is most valuable. According to 2011 figures, 31.5% of South Asian population is below 14 years of age (Central Intelligence Agency, 2011), while these figures are directly in contrast to other parts of the world (both European: Germany, France, Netherlands and Asians: Korea, Japan etc.)where aging has become the major point of concern. It is therefore believed that by 2045 most of these countries will be workers deficit, but countries like Bangladesh, India and Pakistan will be in abundance of workable force. If population of this part of the world is qualified and skilled than they can have job in other parts of the world through labor mobility. Even a look at the shorter span of time tells that baby boomers are at the verge of retirement in USA and Europe, but have not ancestors to follow. Contrarily the working conditions in South Asia are opposite. This global generational gap has led to increase worth for this part of the world.

Economic outlook of these countries is also encouraging. For instance, it is expected that India is going to play a pivotal role in world fiscal, monetary and economic policies in coming decade or so. …

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