Upanishads, or The Bhagwad Gita. DR Stormburg's Writing Shows That There Is Something

 Due to remarkable changes in the world of business,
ethics have gained importance.

 Today managers Interest and focus towards ageless
values and ideologies contained in the RAMAYANA, THE
UPANISHADS, or THE BHAGWAD GITA.
 Dr Stormburg’s writing shows that there is something
over and above science and that we are a part of cosmic
will i.e. supreme soul according to Indian concepts of
management.
 It is the Sages and Mahrishis of our country because of
whom today managers of not only India but also other
foreign countries are following Indian philosophy and
management concepts based on Indian tradition.
 A similar type of classification is there in Indian
scriptures.
FOUR VALUES
1. Artha
2. Kama
3. Dharma
4. Moksha
 Out of these values Artha and Kama are lower values
where as dharma and moksha are higher values.
To lead a happy and successful life.
But today all people are struggling hard to earn money
sacrificing the happiness for the sake of it.
In today’s world most of the time is gone in making status in
the society.
Earning money is to gain happiness but today the meaning
has changed.
BHAGWAD GITA also states to work for the well being of
others.
When an individual identifies himself in others he can become
a successful manager.
 From the movie LAGAAN:-
It shows that a boy named Bhuvan motivates the whole
village to attain the goal of winning match without knowing the
concepts of TQM and ISO.
 From the movie CHAK DE INDIA !:-

It shows that how Kabir Khan the coach unites girls from
different backgrounds and makes the team win the trophy.
 Infosys, Aditya Birla, TATA, Mittal are the organisations that

have attained the level of excellence and we all know the
owners are Indians.
He was a shrewd state person and diplomat during
Chandra Gupta Maurya’s reign.
He was a visionary and the most eminent strategist
for all time to come.
Known as “pioneer economist of the world”.
His views are even followed by western
management researchers.
He wrote two renowned books “CHANAKYA NITI”
and “KAUTILYA’S ARTHASHASTRA”.
In his ‘NITISHASHTRA’ he discusses about
1. How the state should be managed?
2. How an individual should lead his life in society?
3. To eradicate a problem one should go deep into the
root of the problem.
He contributed a lot as far as foreign policies are
concerned.
Even universities have added those policies in their
syllabus.
At that time Chanakya told that agricultural activity is
considered as main activity.
According to him, people should be moral and ethical
in their behaviour.
Chanakya emphasized that as we seek fragrance in
a flower, oil in the sesame seed, fire in the wood,
ghee in milk and jaggery in sugarcane, in the same
manner we should seek the spirit that is inside the
body.
His philosophy of leaving things and gain success.
The essence of Indian ethos.
Emphasize on self sufficient economy based on
internal trade.
According to Chanakyaniti communication is of
utmost importance.
One basic principle of Indian ethos.
In Chanakyaniti it is mentioned “NASTI-AHANKAR
SAMAH SATRU”.
Happiness and misery will come in a cyclic order in
life.
At that time he wrote about contingency planning
which today’s management scholars follow.
He says that soul is the most important asset of an
individual.
Chanakya wrote that even from poison nectar can be
taken out.
Chanakya has emphasized as you sow so shall you
reap.
Ethos is related to psyche of the community.
Related to behaviour that is normal, spontaneous
and unplanned.
It is deepest region of heart.
Helps to create results that are tremendous with a
stress free more productive, work force.
Based on customs and traditions.
Indian ethos is based on the VEDAS, the
UPANISHADS and the BHAGWAD GITA.
Emphasizes on “united we stand divided we fall”.
Lays emaphasis on team spirit.
Who are you?
Ayam Atma Brahma- this self is Brahman.
Hamsa Soham Soham Hamsa- I am he, he is me, He
is me, I am he.
Individual Development
Self management and self development.
Holistic approach to life.
‘Seva’ or service attitude.
Self sacrifice.
Present moment.
.
 Perfection in work.
 Self motivation.
 Dignity of work.
 Creator and creation
 Day To Day Life – A Balanced Life
 Bliss (Ananda)
People become corrupt because of greed(lobha) and
self centeredness.
Corruptness makes poor people suffer.
Economy also suffers as money gets concentrated to
some self centered people.
Indian tradition says that one should not think of
‘preyas’ or temporary pleasures which are gained by
being corrupt.
Indian concepts like ‘ends do not justify means’,
dharma, selfless work, sattvik guna, etc helps us to
overcome corruption is the Indian philosophy.
Culture is “the integral sum of values which an
individual , group of individuals and the society at
large concieve and practice”.
Our culture is based on ancient scriptures like the
VEDAS, the UPANISHADS, epics like RAMAYANA,
the MAHABHARATA and the KORAN.
Western culture is different than Indian culture.
They believe in total independence, freedom, non-
interference.
Elders do not interfere in young ones life.
Hence there is a great difference.
1. Emphasis on personal 1. Emphasis on
relationship. professional
2. It believes in joint relationship.
family. 2. It emphasizes on
3. A unique combination of nuclear family.
materialism and 3. More materealistic in its
spiritualism. approach.
4. Balance between profit 4. Profit maximization is
making and social the ultimate goal.
welfare. 5. It believes in survival of
5. It believes in TYAGA, the fittest.
team spirit, co-
operation, integrity.
JAPAN:-
1. Dedicated to service.
2. Macro vision.
3. Emphasizes spiritualism.
4. Professional life kept away from personal life.
5. Business ethics.
6. Team spirit.
7. Holistic approach.
8. Self- management.
9. Japanese value system.
10. Non interruptions.
11. Informal relationships.
12. Long term relationship.
AMERICA:-
1. Materialistic.
2. Relationship based on give and take.
3. Believe in non interference.
4. Equity and cooperation.
5. Generally prefer top-down approach.
6. Interest to develop the employees skill.
7. No job security.
8. Loyal to profession.
CHINA
1. ‘Jen’ and ‘Yi’.

2. Thought counts.
3. Zen.
4. Emphasize on Gunaxi.
INDIA
1. Niskama karma.
2. Co-operation.
3. Fine blending between spiritualism and materialism.
4. Humility and respect for others.
5. Respect to others.
6. Self management.
7. Shreyas.
Indian Corporate Governance
 Corporate governance leads to corporate excellence, it must be
structured according to the principles of Vedas, aligned with natural
law.
 In the Indian context, Corporate Governance can be drawn from
the following age-old ‘mulyas’ (values):
 (a) Lok Sangraham — public good which means greatest
possible good of all;
 (b) Dhanam — creation of wealth through competence
(kaushalam) and productivity (utpadakta);
 (c) Swatantra — autonomy and independence, in business
decisions;
 (d) Vishwastata —trusteeship, implying that management is
a trustee of stakeholders;
 (e) Dharm yudh — fair battle, providing a level playing field
to all and ensuring fair competition.
 (f) Vividhata — variety or innovation ensuring flexibility in
approach.
Corporate governance has gained importance in the
recent times .
Need for greater transparency in corporate
functioning.
Corporate leaders, Government and regulatory
authorities are now seriously concerned with
remedial steps which 'while not dampening the
corporate enterprises' will at the same time, ensure
transparency and openness". (M N Venkatachaliah -
Former Chief Justice of India).
Thus, issue of corporate governance was described by
our Prime Minister Shri Atal Behari Vajpayee,
“International business experiences over the past few
years, has clearly brought in lime light.
CONCLUSION
Business ethics and corporate governance are interlinked
with one another. Business ethics provides philosophical
base, vision, mission of an organization, whereas
corporate governance is a shared way of corporate
functioning and not just a set of rules.
Professionalism helps the corporation to achieve its
desired goal.
It is being increasingly recognized that being a
responsible corporate citizen is important in ensuring
long-term success of a company.
India’s corporate sector has a new tryst with destiny. best
practices of governance.

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Uploaded by

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 Due to remarkable changes in the world of business,

ethics have gained importance.

 From the movie CHAK DE INDIA !:-

 Infosys, Aditya Birla, TATA, Mittal are the organisations that

1. ‘Jen’ and ‘Yi’.

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