Wednesday 25 December 2013

CONCLUSION - Limitations

CONCLUSION - Limitations

The 'bazaar' market was the grounds for capital accumulation for the Marwari community. As capital got accumulated through trading and speculation same were invested in the manufacturing sector which was a natural extension of the the bazaar which but then had become an essential part of the Marwari culture and identity.

In an economy where manufacturing licenses were hard to come buy and the government controlled all aspects right from the quantity of a product produces to the price it was sold in the market the ingenious accounting system of parta developed by the Marwaris proved successful in the manufacturing sector during the license raj.

The 'Ambassador' car manufactured by a Birla owned enterprise Hindustan Motors between 1950-1970s having a 'steering mechanism with the subtlety of an oxcart, guzzled gas like a sheik and shook like a guzzler became a symbol of India's sluggish Industrial sector where the marwari community had a major share.

Altough some critics might argue that Marwari enterprise flourished during this time next generation family members like Aditya Birla established Industries outside India in Indonesia and Malaysia to become global market leaders their respective Industry.

Another Limitation of the Marwari enterprise came was when the business reached a sizable level the promoters of the company would deploy family members at key decision posts which led to reduced accountability and discourage other people in the organization who would be worth that post.


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