A comparative study of the principles of management and Sanskrit literature is fascinating since one finds related ideas in both. Ideas embedded in ancient literature on human psychology are relevant for modern research in the corporate world. Texts, such as the Arthasastra and the Bhagavad Gita, are useful to present day managers in understanding the value of human capital and channelising it for the benefit of the society.
The trend in the industry has changed from product orientation to customer orientation on account of globalisation. Companies have the social responsibility to elevate the society economically and educationally. Business ethics has become an important subject in management studies.
Basic Values Are Common
Though the value of “values” differs from person to person and place to place, basic values are common. So “desirability” alone cannot determine the value. What is desired may not be beneficial.
The Katha Upanisad, therefore, speaks of preyas (what is desirable) and sreyas (what is beneficial). A good manager may not emphasise what is preyas, that is, what is desired by people. He has to think of what is beneficial for them--quality.
Once one decides to follow values, a resolution on the means for realising the values is necessary. Sanskrit scriptures emphasise that both the end and the means must be noble. The end does not justify the means. This will be a very useful hint for a modern manager in planning his activities.
The values must be thought of first before embarking on an endeavour. The Nyaya texts speak of ista sadhanata jnana (knowledge of the right means of the desired goal) and krti sadhyata jnana (knowledge of the possibility of achievement within the sphere of dharma).
How to Ascertain Dharma?
The term dharma has been referred to earlier. Now a question arises. How to ascertain dharma? It
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