GLOBAL RECESSION : MANAGEMENT CHALLENGES AND STRATEGIES MANAGERIAL PERCEPTION ON GROWTH, CHALLENGES & STRATEGIES
Author: MS. SHARAYU BHAKARE, PROF. SUBBARAM RANGANATHAN
Category: Human Resource Management
Abstract:
According to the World Bank, developing countries' combined growth will fall to 2.1 per cent, or to zero per cent excluding China and India. In this context the study gains immense importance in understanding
the managerial perceptions of the emerging challenges during recession and the necessary remedial
actions to be taken so that the business growth is ensured.
The objectives of the study are :
a) To understand the managerial perceptions of challenges in business growth during recession
b) To analyse the perceptions using appropriate statistic.
c) To discuss the analyzed results in fora of managers to brief on their possible futuristic performance
orientation.
A list of 15 statements had been prepared and managers who are employed in corporates across the world ranging
from the far east to the west in Asia, Africa and USA were asked to rank order them as they perceived them to be
challenges for business growth during recession. The mean of the ranks was divided in two comparable formats of
Indian Managers and Foreign Managers. Spearman's Rank correlation was used as statistic to determine the impact
of the ranking and necessary correlation study made. Total of 100 managers were asked to submit their response by
email and these were tabulated to obtain the mean rank and hypotheses tested at 5% significance level using 'z'
test(critical value: 1.771 at 5% significance) and statistical inference was made. It was seen that the calculated
value (-3.006689) is less than the critical value as per Table and hence the null hypotheses that 'the perceptions of
foreign and Indian managers are independent' is accepted. Managers need to understand that they have an
important role to play in organizational development vis-a vis their own growth.
