Management in emerging economies: modern but not too modern?

This paper sets out to critically review recent publications on emerging market management, and propose an alternative, sociological approach, that emphasizes the hybridity of the emerging economy managerial class in the context of globalization.

Through a critical exploration of three books on emerging economies, the paper questions the meaning of the concept of “modern” in emerging country management. A case study of the treatment of Dalit sanitary workers in New Delhi is used to illustrate the interlay between global marketization and pre‐existing class and caste hierarchies.

Globalization does not result in the replacement of “traditional” with “modern” in India but rather creates hybrid relationships of domination in which an emergent global managerial class is built on and intertwined with pre‐existing class and caste hierarchies. This aspect of modernization is poorly understood in mainstream Indian management scholarship, and highlights the need for development of critical management studies within Indian business schools.

This is a complex and important topic, and the paper has only sketched a conceptual framework that requires further elaboration as well as empirical research.

The debate around “modernization” in emerging economy management requires deepening. Normative issues regarding exploitation that have typically been applied only to the developed countries‐emerging countries relationship need to be expanded to examine internal social dynamics within globalizing/emerging economies.

The framework permits analysis of globalization beyond sterile pro‐ and anti‐dualities. It helps in explaining why globalization is attractive to developing country élites. The paper is a basis for further development of critical globalization theory as it applies to developing and transitional economies/societies.