Contours of the NSEO
November 19, 2008
Thanks for forwarding your article on the NSEO. It is indeed timely and thought provoking. Here are my thoughts on this, and you are free to share this in public fora as you feel appropriate.
1. There is indeed an immediate, indeed, urgent, need to examine the current global SEO, to identify the glaring fault lines, and to start searching for solutions.
2. It is clear that the NSEO needs to be based on rational and human values.
3. One very difficult global trend is the increasing salience of religion in the global order, whether in India, or in the USA. Unfortunately, and rather surprisingly, religion is assuming increasing significance as a component of identity, of individuals, and of nation states. Consequently, we have a confrontational framework, based on religious, hence received wisdom, which is not open to question for the adherents. Hence the need to promote rational, scientific values, as a strategy to reduce the dominance of faith in its extreme manifestations as we witness today. I strongly believe that this must form an important, indeed, core, agenda item for the NSEO.
4. Corruption is another aspect which the NSEO must address. Its scope is vast, it undermines every developmental program in India (and elsewhere), prevents critical benefits from reaching those who need it most. Unless this can be addressed effectively, it will not be possible to address the rest of the problems.
5. Since the task you have defined is the redesign of the SEO, we need to start by defining what the requirements are, as good engineers I suggest that nation states must commit to a minimum program, a set of necessary conditions which they will fulfill. This is not difficult to define, and we have the HDR as a model to start with.
6. Finally, the logic of capitalism, at the enterprise level, needs close examination. If the enterprise continues to be driven by the latest quarterly results, inextricably linked to its share prices, and executive compensation, then there is little room for change.
November 19, 2008 at 1:47 pm
The points you make are very important. It is not just the economy but also the broader culture (religion, values) that needs to be reformed. Corruption is clearly a huge challenge, as are the existing power structures.
So your ideas stretch my narrow call for a sustainable economy to a different way of thinking about humans and societies. This financial crisis is a wake-up call. The full extent of it is not clear or perceptible yet. But it is starting to happen. Unemployment rate in the US is now 6.5% and expected to go to 8% or even 10% by some estimates (particularly if GM fails). So the pain is coming, slowly but surely.
As good managers we need to anticipate, plan, prepare. At the moment there is a lot of reactive behavior, and little proactive action. How are Indian managers perceiving the fall-out of this crisis. I heard the BSE index declined about 40% but that not too many Indians own stocks so it did not make a big difference.
Are corporate managers concerned? What are companies doing