Major Reforms in the Indian Economy After 1990

Greater globalization dominated the world economic and human development in the 1990s urging nations and governments to make unprecedented all-encompassing changes. Could India, as a sizable part of the global economy, act as a holdout? The richest country since ancient times with its distinguished history, India by that time was facing severe problems of agrarian overcrowding, dole-queue crisis aggravated by urban and rural poverty and hunger. As at the beginning of 1990s its foreign debt reached $70 billion, and the Indian government had to resort to the IMF and World Bank for gross borrowings. The country embarked on a path of structural adjustment reforms known as a New Industrial Policy 1991 aimed at achievement of social and economic justice, eradication of poverty and unemployment, and building of a modern, democratic and forward-looking India. Continue reading →

Can the recent wave of intense mutual violence in Israel, cause another Gaza war or the third Intifada?

Since the inception of the State of Israel, the Arab-Israeli relations always were on the brink of the war. During the last 40 years Israel and Arab countries, like partially-recognized state of Palestine, had a number of conflicts and wars that defined the Arab-Israeli relations as perpetual sectarian and racial conflict that does not seem to seize to exist in the years to come. Recent acts of Arab on Israeli violence led some to believe that this new spiral of conflict may lead to a new intifada or even new Gaza war. While, on the surface, it may seem like a logical continuation of an ever going struggle, the real reasons and intentions this time might differ and produce a totally different outcome than all the previous acts of violence. Continue reading →

How Did McDonalds Lose the “Hot Coffee” Lawsuit?

McDonald’s coffee case was a 1994 product liability lawsuit that became a flashpoint in the debate in the United States over tort reform.

“There was a person behind every number, and I don’t think the corporation was attaching enough importance to that,” juror Betty Farnham told the Wall Street Journal. This was the answer to McDonald’s defense, that said “the number of complaints was statistically insignificant.” Continue reading →

Organizational Memory: Why Does It Matter?

The foundation of any organization is built on its effective utilization of memory about its facts, data, information and knowledge. Organizational memory is an ever-changing and integral part of organization learning which constitutes the creation, retention and transference of knowledge within an organization.

In today’s world of modern business, the speed at which organizations come into and go out of existence goes to show the importance of organizational memory as a foothold on which their success is built upon. Thus, an efficient management of organizational memory not only keeps organizations alive, but also flourishes in the business world. Continue reading →