The typical Indian business person is rather highly risk tolerant.
This is not to say that the person is ignorant of risk, though. While
risk is certainly acknowledged, a good idea is capitalized on. The
biggest factor in this lack of risk aversion is that many Indians only
see that they can move up in the world. Having been born, most likely,
into a very poor household and known little else since then, Indians tend
to take larger risks to improve their standard of living. Rick tolerancein
the upper class of Indian society is considerably lower, as individuals
from that social caste do not want to risk what they have earned or inherited.
Locus Of Control
Indian business people accept that many problems are outside
of their realm of control. This does not make them powerless, though,
and very few Indian managers will acknowledge that they are powerless in
any given situation. Reliance upon religious faith, however, plays
a critical roll in this situation. Many Indians rely upon their good,
or bad, kharma in circumstances they cannot directly effect. They
believe that good actions over a lifetime will result in good things in
the future, while the same is true for bad actions.
Autocratic Leadership vs. Participative Leadership
Indian managers participate in more autocratic leadership
than participative. Employees look to their managers for direction
because they have more or better experience than they themselves have.
Also, Indian managers usually have the full loyalty of their employees,
and the cost of that loyalty is continued direction, inspiration and leadership.
The average Indian employee is by no means a mindless automaton, but they
certainly do accept and follow directions from their managers.
Collectivist vs. Individualistic
Collectivism is the more predominant mindset for Indian managers.
While Indian managers are certainly powerful individuals, providing leadership
to their employees, managers also have an inherent responsibility to those
employees. One of those responsibilities is ensuring their welfare.
By not making selfish business deals, ensuring that their employees are
not mistreated or otherwise abused, and considering their welfare as well
as his/her own in business dealings, the manager fulfills this responsibility.
Objective Approach vs. Subjective Approach
Taking the subjective perspective on issues is more typical
of Indian managers. Choosing to base their decisions on emotion and
empathy rather than percentages and ratios, Indian managers place more
emphasis on the good and bad effects of a decision as it relates to the
people involved, rather than the monetary benefit.
Moral Idealism vs. Utilitarianism
Moral Idealism is much more descriptive of Indian management
styles than Utilitariansim, considering important, long-term, potentially
society-altering decisions by reflection on the whole rather than the individual.
This value plays closely with that of the societal religious beliefs of
Indians. In this belief, long-term efforts to do "the right thing"
are rewarded heavily while short-term actions to benefit the individual
are punishable. This is perhaps one of the most fundamental examples
of how Indian religious faith interacts with business practices.