This article analyzes the past, the present, and the future of business institution in society in terms of its management approaches by using the framework of human evolution, and discovers a trend that explains three paradigms in business management that have been witnessed so far. Extending the trend, it projects another two paradigm shifts to take place in future, and establishes that the business management practice is going to evolve further where it will turn from its present status of ‘result-oriented (...) management’to ‘process-oriented management’ in terms of its focus, or in other words, it will evolve from ‘professional management’ to ‘ethical management’ in terms of its underlying philosophy. As a result, the business enterprise will evolve from its present form of economic organization to a humane organization, and further up to a divine organization. Expressed the other way round, the business institution that had kicked off as an industrial organization has got transformed to a human organization by now; however, in the future, it will further evolve to its final level of a divine organization. (shrink)

Extant business ethics literature available for application to international business demonstrates some variety but no comprehensive principles. While the domains of both international business and business ethics are expanding, they are also becoming increasingly divergent. At the same time, the primacy accorded to the multinational enterprise in both fields ignores the socio-cultural and political embeddedness of economic activities, and multiple agencies in international business (individuals, firms, nations, etc.). Some international business theorists have offered the view that international exchange should be (...) the central building block for theories on international business. In this paper, it is argued that international exchange could be the fundamental unit of analysis for international business ethics as well. The potentially unifying features of exchange norms and ethical principles leads the author to develop some core exchange ethics principles that are tested on three recent international business practices. (shrink)

The essay begins by the author's recollections of his younger days when people were seldom worried about moral decline in society. Today, however, it has become a real concern. Literature, philosophy, spiritual works are all essentially a celebration of human values. The paper examines the issue of scale of graded values as against that of absolutist universal values. A scrutiny of English literature reveals that some key literary figures in eighteenth-nineteenth century England drew attention to the decline of human values (...) accompanying increasing industrialization. The author discusses his own views on the management and role of human values in it, as also on human values and man's divine nature. He discusses the leader's role and an action programme for human values. The universality of Vedantic monism, and its triple idealism, is suggested as a basis for the regeneration of human values. (shrink)

In this technology-driven Digital Age, Management Education is primarily engaged in development of skills and techno-economic competence of students with dominant thrust on sharpening their rational faculties and quantitative ability. Deeper questions and nobler qualittative issues like Spirituality, Corporate Social Responsibility and Ethics are naturally assigned low priority in the rush for money, career, fame, power and position both at the individual and organizational levels. The present paper engages in a Qualitative Research by conducting Focus group Interviews among Participants at (...) the Undergraduate level who had taken up Management Education. After content analysis of the responses the authors highlight their observations on the existing gaps in prevailing management education leading to failure of the present system in charging the students with a deeper Meaning of Work and a higher Purpose of Life. The paper then delves into exploration in pertinent tenets of Classical Indian Wisdom to enrich the spectrum of Management education with insights on Humanistic Philosophy, Holistic Learning, Enlightened CSR and Ethics, and Inspirational Leadership towards creating a better and more humane future for modern organizations. (shrink)

The relationships between transformational leadership and followers’ karma yoga (duty orientation), spirituality (oneness with all beings), organizational identification and normative organizational commitment were studied using a sample of 144 teachers of a prominent high school in western India. Spirituality is the goal of all existence according to the Upanishads, and karma yoga is a simple means to enhance spirituality. It was hypothesized that karma yoga enhances spirituality, transformational leadership enhances karma yoga and spirituality, and all the three in turn enhance (...) organizational identification and normative organizational commitment. Results of structural equations analysis shows that transformational leadership enhances followers’ karma yoga; both transformational leadership and karma yoga enhance followers’ oneness with all beings: both transformational leadership and oneness enhance organizational identification; and both karma yoga and organizational identification enhance normative commitment. The implications of transformational leadership addressing both followers’ real needs (karma yoga and oneness) and organizational interests (identification and commitment) are discussed. (shrink)

This paper presents the concept of character competence as a basis for creating ethical organizations. In view of the gaps between the 'statement' of values and the 'state' of values that have been witnessed recently in many corporates, the need to improve character competence of the corporates has become critical to the success of organizations. While corporates pay a lot of attention to core competence, they hardly pay much to character competence. Drawing upon various paradigms of ethics, this paper suggests (...) a holistic framework of business ethics rooted in ethical imperatives for individuals, organizations and markets. The framework developed in the paper forms the foundational basis for the concept of character competence. The author suggests the need for developing a character competence index and rating corporates on such an index. Further, it is suggested that ethical sensitivity can be inculcated through development of ethics-based management models with roots in character competence. (shrink)

India today is facing value crisis. Drift started during the British era and since then it has been witnessing continuous erosion of values. At that time the man who came to India’s rescue was Mahatma Gandhi, man of principles and values who never compromised with his values. He along with his powerful values of truth and non-violence helped India regain its strength. Almost after 64 years of freedom there is a heartfelt need to go back to these values for effective (...) management and survival. This article is an endeavour for reviving these time-tested values and to draw insights for management of organization. The values like truth, non-violence, renunciation, humility, equanimity, etc., at the organization’s roots may provide it a firm footing in this turbulent scenario. (shrink)