You are on page 1of 40

Indian Management Thoughts & Practices

Indian Management Thoughts and Practice

♦ Concept Testing

1. Harmony with Environment


With the help of YOGA, meditation man (manager) tries to purify himself within,
tries to eliminate dust of anxieties, stress, and depression from his mind and tries
to achieve tranquility so that he can work in present and with more concentration
and achieve his targets efficiently. Thus practicing these activities he truly and
only concentrates on his body and his work, but at the same time man cannot
ignore the environment he is living in. As he concentrates on himself to realize his
targets, he has to get harmonize with the environment for the same. He has to get
adjust with the people around him, his family, his home, his office environment,
his boss, subordinates, nature around etc. So that it would have positive impact on
his actions, his mind, ideas will flourish in harmonized environment. He could
also maintain healthy and natural lifestyle. Locating and shaping spaces in
harmony with both the physical and the spiritual environment is required to
empower the harmonious interaction between person and place. Harmonizing with
environment will result into getting along with people, so that managers will not
face any oppositions in his work, and thus will not get any pressures, depression,
stress, jealousy, anxiety, overwork which are route cause of all negative
happenings.

2. Self Control

Self-control is the ability to make choices about how one behaves and acts rather than
relying on impulses. Instead of acting on instinct or immediate impulse, individuals -
with self-control pause and evaluate a situation and the consequences that may result
from their behavior.
By exercising self-control, you can learn to make appropriate decisions and choose
behaviors that will be more likely to have positive outcomes.

1
Indian Management Thoughts & Practices

"Self-control is critical for getting along with other people. It's thinking before acting,
like looking before crossing the street. Self-control prevents impulsive behavior that
may have dangerous or negative consequences."

3. Dharma, Swadharma and Detachment


DHARMA: Dharma is the law of right living, the observance of which secures the
double object of happiness in your own life and also the happiness in others life. It
stands for all those ideals, purposes, influences, institutions, and the ways of life and
conduct that shape the character and evolution of man both as an individual and as a
member of the society. The openly spirit, righteousness (godliness), and fearlessness
are the three divine elements of Dharma given explained below:
Dharma is spirit (or evolves from spirit) in Indian ethos. The inclusion of dharma is
like rediscovering a vacant upstair room in one’s heat chamber. ‘Do right thing
(‘Dharman Chara), do good, be good and the whole chamber of our heart shines with
Light of Consciousness’. In dharma, not mere action but rightness is given great
emphasis.
Dharma stresses fearlessness. Divine touch is enough to convert difficulties into
opportunities. Of course one should know the truth about oneself. Dharma is the
‘inner law of one’s life’, the moment we are unconscious or ignore that inner law, our
life is paralyzed. We feel isolated. Our degeneration is sure. No wonder we feel
missing and incomplete. Dharma is ethics and spirituality combined. Follow your
Dharma and it will protect you or stand by you. One has to comply with his own
Dharma. Nobody has ever violated Dharma without ultimately courting disaster. Each
one has his/ her own dharma.
Dharma Of Management/ Organization
Each organization and management is considered by Indian ethos as a living entity,
having heart, soul and Dharma. The traits of dharma or integrity, e.g. Courage, self
discipline, goodness, righteousness and all other essential and ethical values constitute
the character of management / organization just as they are of the individual character.
They must follow their own dharma (collective heart/soul), otherwise pay the price. A
soul less company has no life. The spirit is the root or ultimate source of all values
and character, which are the invaluable assets of the credibility and goodwill of
individuals, organization and management.

2
Indian Management Thoughts & Practices

SWADHARMA: Gita emphasizes that Swadharma (one’s duty based on one’s


swabhava – inclination and aptitude – on the work that falls to one’s lot by virtue of
one’s placement in society) should be carried on for the general welfare of society and
as worship of Divine, as our offering to god. This call to work in the true Yajna spirit
is an exhortation to support and actively co-operate in the Divine’s evolutionary
design and to live with the mother earth, safeguarding her grand ecological balance.
results are an inevitable consequence of wrong Karma.

DETACHMENT: Detachment is the:


Ability to allow people, places, or things the freedom to be themselves. Giving
another person "the space'' to be him or herself. Disengaging from an over-enmeshed
or dependent relationship with people. Willingness to accept that you cannot change
or control a person, place, or thing. Developing and maintaining of a safe, emotional
distance from someone whom you have previously given a lot of power to affect your
emotional outlook on life. Ability to maintain an emotional bond of love, concern,
and caring without the negative results of rescuing, enabling, fixing, or controlling.
Ability to exercise emotional self-protection and prevention so as not to experience
greater emotional devastation from having hung on beyond a reasonable and rational
point. Ability to allow people to be who they "really are'' rather than who you "want
them to be.'' Ability to avoid being hurt, abused, taken advantage of by people who in
the past have been overly dependent or enmeshed with you.

What are the negative effects not detaching?


If you are unable to detach from people, places, or things, then you:
Will have people, places, or things, which become over-dependent on you. Run the
risk of being manipulated to do things for people, at places, or with things, which you
do not really want to do. Can become an obsessive ``fix it'' who needs to fix
everything you perceive to be imperfect.
Will most probably become powerless in the face of the demands of the people,
places, or things that you have given the power to control you. Will be blind to the
reality that the people, places, or things, which control you, are the uncontrollable and
unchangeable you need to let go of if you are to become a fully healthy, coping
individual. Might become caught up with your idealistic need to make everything

3
Indian Management Thoughts & Practices

perfect for people, places, or things important to you even if it means your own life
becomes unhealthy. Run the risk of becoming out of control of yourself and
experience greater low self-esteem as a result. Run the risk of losing your autonomy
and independence and derive your value or worth solely from the unhealthy
relationship you continue in with the unhealthy person, place, or thing.

4. Holistic approach to Personality


Ancient Greek and Indian wisdom and insight considered the human individual, a
unique living entity having self-consciousness and human self a complex of body,
mind, heart, intellect and spirit or soul. We have to pay equal attention to all the
aspects of human personality and consider him as a whole or complete being, having
practically unlimited potential energy and power to develop himself and acquire
perfection so that he can enjoy all round internal and external harmony and progress.
This is called holistic approach in self management and management of any
enterprise as well.

5. Dharmic Leadership
Dharmic Leadership at Work
In business organisation Dharmic Leadership means the torchbearers as to the ethical
practices to be followed by the subordinate. Dharmic leadership involves placing the
satisfaction of employees as a key goal and developing company policies and
processes around it. It involves creating an opportunity for employees to excel by
taking the time to place the best people for the job.
Based on love and a desire to uplift the quality of life for all, such leadership fully
empowers individuals. Employees have an opportunity to not merely pursue
economic gain, but to also contribute meaningfully from the depths of their being to
the organization’s success.
The new generations of leaders are not satisfied with wealth creation alone. The new
leader is wealthy, balanced and wise. She is not a slave to technology but masters it to
enhance the quality of life. She practices the fundamental formula:
The new leader seeks and promotes balance as a practical weapon to improve the
bottom line, enhance material prosperity and increase the speed of innovation over the

4
Indian Management Thoughts & Practices

long haul. Creating an environment that promotes balance will result in more
productive, fulfilling, loyal employees.
Our industry has several inspiring examples of leaders (and entrepreneurs) who have
created great wealth and opportunity, but we do not have many visible examples of
leaders who have done this with balance at a personal and organizational level. This
doesn’t mean, however, there can’t or won’t be, soon. Already, there are many such
visionaries in some not-yet-visible companies. For many long-suffering employees, it
cannot be soon enough.

6. Concept Of DIVINITY
This Awareness wishes to promote the spherical concept of Divinity in which the
entire sphere is filled with the Mind of God, the Consciousness of God, and It Is
everywhere; that entities need only to open themselves to be One with God through
surrendering to that vibration of frequency of the highest, and this Awareness sees this
as being a much easier concept to grasp, eliminating much of the extreme struggle of
climbing a pyramid, of climbing through the Ascended Masters, trying to work your
way up to be One with God.
This Awareness indicates that many entities in the world do not have a clear
understanding of their relationship with God, and many of these entities want to be
helped by someone whom they feel is closer to God than they are, and they see these
hierarchical beings as being above them, able to lift them, able to help them rise
above their own status or stature to become a little better than they are, and this, for
these entities, gives them hope, and they feel that they can improve, even if they
cannot be One with God. They feel that this improvement is possible, and this is the
extent of their belief.
Some entities cannot conceive of moving fast on the spiritual path. They are very
grateful to have a priest or someone, a higher being, an Ascended Master that they can
reach for to help them become better persons, and this Awareness indicates in this
way, yes, they can benefit from this, but this Awareness also suggests that the
Ascended Masters approach can become a burden and a hindrance compared to
retraining the entity to think in a different way; not to think of climbing a ladder or
climbing the rungs of spiritual development so much as giving oneself totally to the
Divine Consciousness that is everywhere present.

5
Indian Management Thoughts & Practices

If one can learn to surrender self to God, all the climbing, all the Ascended Masters,
all the work of becoming a better person through your effort and struggle becomes
meaningless. The total surrender itself is a single act that can be of great significance
in reaching higher levels of spiritual energy and evolution.
This Awareness indicates that once one has totally surrendered to God, it is then only
a matter of continuing your surrender so that you live in a state of surrendering to the
Divine from moment to moment. You are constantly surrendered to the Divine.
This Awareness indicates there are some entities that cannot perceive of this action,
and for them, the struggle is more real, and they may take the path of the hierarchical
approach.

7. Concept Of MAN
DEPENDING UPON THE INSTRUMENTS OF EXPRESSIONS OF LIFE MAN IS
DIVIDED AS FOLLOWS:
The Physical Man: Operates more at the gross level of the Body.
The Mental Man: Operates more at mind, thoughts and the emotional level. Right
brain more pre- dominant.
The Intellectual Man: Operates more through logic, analysis and discrimination of
apparent evidence. Left-brain more predominant.
The Spiritual Man: Operates at higher level of universal values.
Greater the integration between these personalities greater is the harmony in behavior
and higher are the performance levels.
DEPENDING ON DIFFERENT LEVELS OF EVOLUTION OF CONCIOUSNESS:
Stone Man: A stone is totally unaware of the external world of circumstances because
of minimum level of consciousness. You just exist. We should be aware of such state
of existence which does takes place once in while.
Vegetable Man: Very low level of consciousness but nevertheless higher than in the
Stone man. Able to look for your own nourishment needs without any movement.
Animal Man: Much higher level of consciousness signified by more developed
instincts and ability to certain level of communication and procreate.
Man Man: Highest level of consciousness in stimulus and response not only with
external but also very deeper levels of internal existence. Take off at higher level can
take place only from this platform.

6
Indian Management Thoughts & Practices

8. Concept Of KARMA
Karma means in Indian philosophy, a duty or Dharma in a given situation. Karma or
action or work is very natural for the MAN. Only dead body is non-working. The
purpose of work is to bring out divinity and to achieve growth and development.
Moreover, all work/ karma are to manifest divinity, hence these must be pure, good,
honest and sincere. Indian philosophy also teaches to perform every work without
having any attachment to result, as one should understand that every action produces
result and it is inherent in the action itself and is governed by the laws of nature and
one does not know all the laws which contribute to the results but one know that
THINGS function very systematically and in an organized manner in this universe
according to these laws. You are free to act/work or not to work or how to work. You
can plan, organize and build a good strategy to perform your work, but you cannot
control the result. Hence, accept, that result comes from the laws of nature/GOD. This
is also called the Vedantic View OF KARMA.
The GITA considers KARMA as DUTY or SADHNA. Action is to be performed by
dedicating it to the SPIRIT (Divinity) within. And whatever result/fruit comes is to be
accepted as the grace of GOD (PRASAD BUDHY) with equanimity of mind. The
cultivation of PRASADHBUDDHI towards the results of actions/work is KARMA
YOGA (the yogic science of doing work with samatwa or it is selfless work/service to
others). Nishkama Karma (fruits of work) is the result of doing your duty with
discipline and devotion without attachment to work and agency (egoistic pride) and
without calculations of gain or loss. The fruit i.e. Karma Fala is given as Prasad from
the Divine to develop the healthy attitude.
KARMA VADA is an ethico moral law of causation for regulating karma, which
includes thoughts (manasa), words (vacha) and actions (karmana). Thus, even a
thought wave of envy or hatred is karma, a cause, which will produce its inevitable
consequences in one way or another at some later point in time. If some one
knowingly cheats his organization for personal benefit, this too is Karma, a casual
force, with its corresponding backlash.
It is only the right that leads to good results like perennial prosperity and the wrong.

7
Indian Management Thoughts & Practices

9. Concept Of DHARMA
Dharma is the law of right living, the observance of which secures the double object

of happiness in your own life and also the happiness in others life. It stands for all

those ideals, purposes, influences, institutions, and the ways of life and conduct that

shape the character and evolution of man both as an individual and as a member of the

society. The openly spirit, righteousness (godliness), and fearlessness are the three

divine elements of Dharma given explained below:

Dharma is spirit (or evolves from spirit) in Indian ethos. The inclusion of dharma is

like rediscovering a vacant upstair room in one’s heat chamber. ‘Do right thing

(‘Dharman Chara), do good, be good and the whole chamber of our heart shines with

Light of Consciousness’. In dharma, not mere action but rightness is given great

emphasis.

Dharma stresses fearlessness. Divine touch is enough to convert difficulties into

opportunities. Of course one should know the truth about oneself. Dharma is the

‘inner law of one’s life’, the moment we are unconscious or ignore that inner law, our

life is paralyzed. We feel isolated. Our degeneration is sure. No wonder we feel

missing and incomplete. Dharma is ethics and spirituality combined. Follow your

Dharma and it will protect you or stand by you. One has to comply with his own

Dharma. Nobody has ever violated Dharma without ultimately courting disaster. Each

one has his/ her own dharma.

Dharma Of Management/ Organization

Each organization and management is considered by Indian ethos as a living entity,

having heart, soul and Dharma. The traits of dharma or integrity, e.g. Courage, self

discipline, goodness, righteousness and all other essential and ethical values constitute

the character of management / organization just as they are of the individual character.

8
Indian Management Thoughts & Practices

They must follow their own dharma (collective heart/soul), otherwise pay the price. A

soul less company has no life. The spirit is the root or ultimate source of all values

and character, which are the invaluable assets of the credibility and goodwill of

individuals, organization and management.

10. Concept Of YOGA


There is a lot of talk about yoga, nowadays. It is becoming a fashion to talk of yoga
and especially Integral Yoga. What does it ‘really correspond to in our head’ when we
speak of yoga? For most, both in the West and the East, it is primarily Asanas –
Hathayoga Asanas. For those who have read a bit the literature of yoga, make it their
‘final goal of life’. But Integral Yoga is not interested in these ambitions for power.
Integral yoga is done for the sake of the Divine – primarily and ultimately. For the
seeker of Integral Yoga, yoga is not the aim or goal of life – it is the only way to live,
the true way of life.
Aim Integral yoga is ‘the conversion of the human soul into the divine soul and of
natural life into divine living.’ Normally, the old yogas reject the lower nature, the
outer nature, but Integral Yoga wants to transform the lower – a total transformation
of our integral being into terms of God-existence.
Bhagvadgita defines YOGA (II 48) as evenness of mind, the tranquility of mental
composure in facing all the pairs of opposites. Work is to be performed without
having any kind of wrong imaginations, false expectations, and anxieties for the
results and fears for the future. In all these preoccupations we lose the immediate
valuable moments available to us to act and to strive efficiently and effectively to
achieve the desired objectives- therefore it is said, Act established in equanimity
abandoning attachment.

Just as an artist forgets everything-even himself while performing on his art, if


manager forgets himself in work, that he performs, his mind is said to be in YOGA.
He will not be anxious for the success or failure of his activity because he knows that
to worry fro the results is to worry for the future and to live in future is not to live in
present. It does not mean that one should not plan or think about future implications

9
Indian Management Thoughts & Practices

of current decisions. Instead it insists that do all things very sincerely well – in –
advance but when you start to perform the work, concentrate fully on that work only.
Therefore the LORD says in GITA that apply yourself to the devotion of action. The
LORD has also defined YOGA in another way. He says YOGA is nothing but
dexterity and skill in action performed with evenness of mind.

Harmony with environment


Harmony with environment is required to maintain a healthy, natural lifestyle, taking
responsibility for and control of their health and their life through natural healing
methods. Locating and shaping spaces in harmony with both the physical and the
spiritual environment is required to empower the harmonious interaction between
person and place. The colour and form (part of our environment) enriches the spirit
and soul, it stimulates an environment that contributes to the health and well-being of
the occupants. It's a home with a healthy indoor climate that allows the house to
breath, and the mind and spirit to flourish in an environment as free as possible of
chemicals. LIFE abhors silence. Its voice is not a cry; it is a song. In order to hear this
song, one must listen to the life that is within and without. Life teaches harmony and
brotherhood. Ultimately, the study of life is valuable if a human being acquires a
profounder conviction in the fact of universal brotherhood. It is spiritual knowledge of
the One Self and One Life within each and all that is the key to the mystery of life. In
order to acquire spiritual knowledge one must look within and without.
With the help of YOGA, meditation man (manager) tries to purify himself within,
tries to eliminate dust of anxieties, stress, depression from his mind and tries to
achieve tranquility so that he can work in present and with more concentration and
achieve his targets efficiently. Thus practicing these activities he truly and only
concentrates on his body and his work, but at the same time man cannot ignore the
environment he is living in. As he concentrates on himself to realize his targets, he has
to get harmonize with the environment for the same. He has to get adjust with the
people around him, his family, his home, his office environment, his boss,
subordinates, nature around etc. It would mean making some quite fundamental
changes in our attitudes towards each other, if we were really to think of ourselves as
indispensable elements of nature. So that it would have positive impact on his actions.

10
Indian Management Thoughts & Practices

His mind, ideas will flourish in harmonized environment. He could also maintain
healthy and natural lifestyle. Harmonizing with environment will result into getting
along with people, so that managers will not face any oppositions in his work, and
thus will not get any pressures, depression, stress, jealousy, anxiety, overwork which
are route cause of all negative happenings.
Need for hour is for the intuitive leader who can gather personnel round a shared
vision, which gives meaning to their work. Such a vision takes into account the inter-
relationships every management decision is bound to have today not only with the
immediate surroundings but also with the state of the world as a whole on account of
the increasing globalisation of the economy and of communications. Such a leader
will take into account not only the turbulence of the environment today, its
unpredictability and uncertainty, but also the innate inertia of the organization which
militates against its adjusting rapidly to the environmental changes. Therefore to
adopt changes, in order to be in accord with surrounding, Harmony with Environment
is necessary.

11. Concept Of ATTACHMENT


Attachment (RAGA) means wrong imagination, false expectations, daydreams about
the results of action, fears for the result, etc. One should remember while performing
an action that past is dead, future is yet unborn hence concentration on present fully
can only bring out excellence in performance.

♦ Descriptive Questions

Q.1 “ Cultural background and value systems mould the personality of an


individual”. Discuss with examples.
(And)
Q.3 “ Is there a conflict in the value system of east and west?” make a
comparative study.
Modern psychology regards human mind as a cluster of various desires for sensual
enjoyment call libido. All human actions, thought, purpose of life are attributed to

11
Indian Management Thoughts & Practices

libido. It becomes necessary to probe into unconscious or deepest inaccessible levels


of unconscious in which are the repressed impulses or memories. Man cannot obtain
knowledge of pure truth, not can lead he lead a purely exemplary or idealistic, noble
and spotless life. Human mind cannot free itself from bindings of memory or gross
lustful desires in the unconscious and sub conscious mind. At the root of man’s
inculcation of righteousness and adherence to truth lie a reservoir of unknown mean,
brute impulse. Idealism of righteousness is just a façade. They believe in suppression
or admission. Not in annihilation. Human civilization is the outcome of wholesale
repression or suppression. The fundamental postulates of Indian culture thoughts are
different. We have three great moral conceptions: dharma (morals & law), runa (debt
or social obligation towards Supreme being – the god), parents, language and to
humanity. And purushartha – dharma, artha and kaam. We that the whole universe is
the manifestation of the Supreme Being, which is permanent, all pervasive, without
beginning and without end, present in the finest particle of the atoms and at the same
time it encompasses the whole expanse of the universe. It is called by the name
Brahman. Brahman means great.

Q.2 Discuss the impact of Indian Cultural heritage on the youth today?

There are many diverse definitions of culture. The Assembly of First Nations defines
culture as the customs, history, values, and languages that make up the heritage of a
person or people, and contribute to that person's or people's identity. A concept of
culture must include specific reference points in the historical experiences of a people.
The social sciences provide the categories of investigation.
One area for consideration is the relationship between a society and its environment.
The society's economic lifestyles which are based upon resource development,
whether it be hunting, trapping, fishing, mining or mineral development, is also a key
consideration. Social structures and interactions affect education, family, and
community roles of individual members of the society. These, shaped by the
environment, often determine aspects of social life such as recreation, physical fitness,
moral, and spiritual development. Respect for nature and the individual are requisites
for a compassionate, tolerant, and healthy society.

12
Indian Management Thoughts & Practices

When people interact with nature and each other, they use tools, higher level thinking
skills and language. The Aboriginal peoples tend to perceive themselves in harmony
with nature while Euro-Canadian peoples tend to see nature as a resource to be
exploited for individual or collective gain. In modern times, the philosophies of
Indigenous peoples have been applied to problems of waste and pollution, giving rise
to environmental movements. The relationship between nature and humanity has
become a matter of life or death.
Four main components of culture may be said to include people, technology and
objects, relations, and institutions. A culturally sensitive curricula must respect these
aspects of a society and present them accurately, avoiding the pitfalls of
anthropological interpretation, bias, stereotyping, and racism.
A people's concept of themselves is the most valid form of group identity. Self-
determination is a struggle crucial to all societies. How the society meets this
challenge defines its cultural identity. The retention or loss of traditions, customs,
ceremonies, and languages will determine the identity and culture of future
generations.
The retention of traditional aspects of culture allows individuals and students to be
aware of their ancestry, and the value and accomplishments of their race, community,
and society. This historical and cultural awareness enhances the concept of self and
social worth.
Collective action, whether in a society, community, or classroom influences the
development of an individual's beliefs, actions, and social skills. Cultural and
community interaction is therefore vital if students are to develop fully their potential.
That potential strengthens and supplements all aspects of the culture of the student
and the society in which the student interacts.
What the individual then creates (products), or changes (processes), alters the
structure of society which may force evolutionary changes upon a culture. Technology
is the product, and politics, law, philosophy, ethics, the arts, and religion are the
processes of change. Cultures alter, depending upon how these products and processes
impact upon the individual and society. Interaction with these processes and products
may be positive or negative.

13
Indian Management Thoughts & Practices

It is the function of education, whether it be natural, cultural, social, public or private,


to ensure that interactions are positive and productive for the individual and society.
Thus Indian culture had influenced Indian youth.

Q.4 “ For achieving behavioral change, the core values of individuals have to be
addressed”. Discuss the statement in context of Indian organisations.

In Indian organisations individuals have forgotten their core values. The values of
faithfulness, simplicity, etc. and the behaviour in organisations today is very
materialistic, selfish. No one cares for others kind of attitude. People are hell bent on
pulling each other’s legs. It’s a rat race and everyone wants to be ahead of the other,
no matter what it costs. And today the need of the hour is a behavioral change in
organisations. Individuals should themselves understand the way they should work
and maintain harmony and efficiency at their work place.
Organisations themselves should take note of this deteriorating situation and try and
achieve behavioral change in employees by addressing the core values of individuals.
The organisations like Reliance, Tata, etc. can conduct sessions which will help the
employees in changing their behaviour as also will help them in taking review of the
follies in their behavioral pattern.

Q5 What critical aspects of the Indian ethos need to be imbibed by an


international company seeking to set up business in India?

Meaning of Ethos: characteristic spirit of a community comes out of traditions,


customs, beliefs etc not necessarily cognitive, but necessarily manifest in behaviour
and thinking. Oxford English dictionary defines Ethos as “The characteristic spirit &
beliefs of community/ people which distinguishes one culture from the other.” It is a
part of the psyche of the people in the community. Ethos has nothing to do with
ethics. Ethos may be behaviour that is not desirable, but it is behaviour that is normal,
spontaneous, unplanned. It is the result of the lessons (beliefs, values) that have been
stored in subconscious, from the variety of experiences from childhood onwards,

14
Indian Management Thoughts & Practices

discussions (criticizing or praising people or events) at home, epics & fables and
folklore.
Indian Ethos: Actually it is difficult to define Indian Ethos because India is a multi-
cultural, multi-ethnic, multi-religious. Behaviours differ considerably between
metropolitan cities & villages, between north, south, east & west, according to
different religious persuasions & a number of other factors that affect culture. Indian
ethos are drawn from the Vedas, the Ramayana, Mahabharat, the Bhagvadgita &
Upnishaad.
An international company wishing to set up a business firm in the Indian scenario
should first understand Indian ethos. Because management & managing people is an
integral part of any business. People behave & respond according to their ethos.
Understanding ethos helps obtaining satisfactory responses from people. Responses
become more positive if the practices are as per the ethos of the persons managed.
Thus the salient ideas & thoughts for Indian ethos in management that the intending
company should keep in mind are as follows:
Atmano Mokshartham, Jagat hitaya cha.
All work is an opportunity for doing good to the world & thus gaining materially &
spiritually in our lives.
Archyet dana manabhhyam.
Worship people not only with material things but also by showing respect to their
ever-present divinity within.
Atmana Vindyate Viryam
Strength & inspiration for excelling in work comes from the Divine, God within,
though prayer, holy readings & unselfish work.
Yogah karmasu kaushalam, Samatvam yoga uchyate.
He who works with calm & even mind achives the most.
Yadishi bhavana yasya siddhi bhavati tadrishi
As we think, so we succed, so we become. Attention to means ensures the end.
Parasparam bhavayantah shreyah param bhavapsyathah
By mutual co-operation, respect & and fellow feeling all of us will enjoy the highest
good both material & spiritual.

Q.6 Good Managers should be emotionally stable: (Comment)

15
Indian Management Thoughts & Practices

The rules of work are changing. We’re being judged by a new yardstick: not just by
how smart we are, or by our training and expertise, but also by how well we handle
ourselves and each other. This yardstick is increasingly applied in choosing who will
be hired and who will not, who will be let go and who retained, who passed over and
who promoted.
These rules have little to do with what we were told was important in school;
academic abilities are largely irrelevant to this standard. The new measure takes for
granted having enough intellectual ability and technical know-how to do our jobs; it
focuses instead on personal qualities, such as initiative and empathy, adaptability and
persuasiveness.
In a time with no guarantees of job security, when the very concept of ‘job’ is
rapidly being replaced by ‘portable skills’, these are prime qualities that make us and
keep us employable. Talked about loosely for decades under a variety of names, form
‘character’ and ‘personality’ to ‘soft skills’ and ‘competence’, there is at last a more
precise understanding of these human talents, and a new name for them: “Emotional
Intelligence”.
What exactly is this emotional intelligence? Actually speaking it is an art of
handling one’s own emotions and influencing others’ emotions. Every job differs from
the other. Thus emotional requirements for each job will naturally differ in their
perspective. Thus being emotionally compatible with the job is what emotional
intelligence means. Since for each job, requirements are different, there’s no standard
for emotional intelligence. In this fast changing world, global village will soon
become a reality. Competition is increasing and job security on the other hand is
reducing. Similarly manpower is being cutback and therefore, burden of work per
person has increased. In such a scenario, managing wide number of activities for the
organization has become inevitable for managers. Alongside, they have to deal with
customers of different preferences from throughout the world, employees coming
from different regions, belonging to different nationalities, they have to follow
regulations of various governments, satisfy shareholders from various countries etc.
Thus now, there has been a integration of different ideologies, philosophies, cultures,
religions and traditions at a single place: “Work Place”!

16
Indian Management Thoughts & Practices

An individual working in such an environment has to be compatible with it,


has to be flexible enough, understanding and empathetic, and should be able to handle
stress that comes with such a dynamic milieu. Unless an individual is capable of all
this, he can’t perform well. Ultimately, an individual employee’s performance affects
the organization’s performance and this in turn impacts the organisational goals. Thus
an individual should necessarily be emotionally compatible with the job.
At work place, emotional stability has got following implications:
Emotional stability does not mean merely being nice. At strategic moments it may
demand not being nice, but rather for example bluntly confronting someone with an
uncomfortable but consequential truth they are avoiding.
Emotional stability does not mean giving free rein to feelings. Rather it means
managing feelings so that they are expressed appropriately and effectively, enabling
people to work together smoothly toward their common goals.
Emotional stability is not fixed genetically. It seems to be largely learned and
continues to develop throughout the life.
A survey of employers reveals that they are now looking for more ‘emotionally stable
and intelligent people’ rather than ‘extremely intelligent’ people. The employers want
their employees to possess following:

Listening and oral communication.


Adaptability and creative responses to setbacks and obstacles.
Personal management, confidence, motivation to work towards goals, a sense of
wanting to develop one’s career and take pride in its accomplishments.
Group and interpersonal effectiveness, cooperativeness and teamwork, skills at
negotiating disagreements.
Effectiveness in the organization, wanting to make a contribution, leadership
potential.
If this list is followed closely, it is clear that academic excellence has now lesser
importance as compared to the emotional stability and emotional intelligence. Thus,
managers should be necessarily emotionally stable.

Q.7 What personality traits need to be developed by an effective manager?


AND

17
Indian Management Thoughts & Practices

Q.8 Portray some of the personality traits in Indian context.

Personality is a complex, multidimensional construct & there is no simple definition


of what personality is. However we can examine personality in terms of a set of
relatively stable characteristics & tendencies that determine our thoughts, feelings, &
behaviour & which has some continuity or consistency over time.
The word personality, as used in common parlance, has a different meaning than when
used by psychologists. Personality is not external appearances or social images, but
refers to the organised, permanent, subjectively perceived entity, which is at the heart
of all experiences, the internal structure of the individual. It is reflected in the
characteristic patterns of behaviour, responses to external stimuli, the way one affects
others & so on.

In short we can define personality as sum total of an individual consisting:-


- Physical health
- Emotional Stability
- Intellectual ability
- Spiritual connectivity.

One of the ways of studying personality is to locate one's position on a number of


dimensions known as personality traits
Following personality traits has to be followed by an individual to be known as an
effective manager.

Western view of Personality traits:


- Passive personality
- Aggressive Personality
- Manipulative personality
- Assertive personality

In the Indian view, for managers to be effective the theoretical analysis of personality
is not important. Infact, it is important to be aware that there is big range or variety of
personality traits.

18
Indian Management Thoughts & Practices

Apart from possessing the necessary skills & attributes, managers need to develop a
high tolerance for ambiguity. Indian environment is highly volatile in which constant
changes takes place in the in the internal & external environment of the organisation,
& managers need to be able to handle situations as they come, without experiencing
undue stresses. Thus, high tolerance of ambiguity is desired managerial trait.
With the highly competitive scenario, where many MNCs have stared knocking the
Indian market, managers with good mix of achievement, affiliation 7 power needs
will be successful in most situations since they will have the drive to get ahead in
tough situations.
With increasing emphasis on communication, Extrovert managers will fit in their jobs
&managers with internal locus of control will be better performers.
Moreover Indian view of personality being ethical in concept managers with good
ethic values are likely to be effective than those who do not have them.
Thus, Holistic approach of personality from Indian perspective is probably more
complete & enables every manager to be effective without intervention of an external
specialist.

19
Indian Management Thoughts & Practices

Diagram:

20
Indian Management Thoughts & Practices

Q.9 Personality is the product of Heredity and Environment. Explain?

Personality is to man what perfume is to flower -- Charles M.Schwab- Ten


commandents of success.

The word personality has an interesting derivation. It can be traced to the Latin word
"per sona". The Latin term was used to denote the mask, worn by actors in ancient
Greece and Rome. This Latin word is particularly relevant to the contemporary
analysis of personality. Common usage of the word emphasis the role which the
person displays to public.

What Is Personality?

1. A dynamic concept describing the growth and development of a person’s whole


psychological system
a) Personality looks at some aggregate whole that is greater than the sum of the
parts.

2. Gordon Allport
a) Personality—the dynamic organization within the individual of those
psychophysical systems that determine his unique adjustments to his
environment

3. Personality is the sum total of ways in which an individual reacts to and interacts
with others.
a) It is most often described in terms of measurable traits that a person exhibits.

But the most meaningful would be to include both person and role. So personality is
the characteristic pattern of behaviour (communication skill / ability, good
interpersonal relation, etc) and modes of thinking that determine a person’s

21
Indian Management Thoughts & Practices

adjustment to the environment. Personality can also be described as how person


affects others.
(Charisma) how an individual understand and views himself and his pattern of inner
and outer measurable traits. In the process of development individual acquires
distinctiveness and uniqueness which gives him identity which enables us to
recognize him apart from others.
So personality is a sum total of different traits, which also includes external
appearance, communication skills, interpersonal relations, sensitivity, emotionality
and intelligence. Every person is in certain aspect.

Personality Determinants

An early argument

 Personality was the result of heredity or of environment.


 Personality appears to be a result of both influences.

 Heredity

1) Heredity refers to those factors that were determined at conception.


2) The heredity approach argues that the ultimate explanation of an individual’s
personality is the molecular structure of the genes, located in the chromosomes.
3) Three different streams of research lend some credibility to the heredity argument.

(1) The genetic underpinnings of human behavior and temperament


among young children
(a) Evidence demonstrates that traits such as shyness, fear, and
distress are most likely caused by inherited genetic
characteristics.
(2) The study of twins who were separated at birth

22
Indian Management Thoughts & Practices

(a) Study of more than 100 sets of identical twins separated at birth
and raised separately, but the researchers found a lot in
common
(3) The consistency in job satisfaction over time and across situations
(a) Individual job satisfaction is remarkably stable over time. This
is indicates that satisfaction is determined by something
inherent in the person.

The impact of heredity on personality is very active but still unsettled area of
understanding. The problem is that geneticist’s face a major obstacle is gathering
information scientifically on human beings. Studies of twins, have proved
newsworthy. For example, "Jim Twin " who were identical twins separated at berth,
were both named Jim, by their adopted parents. Both of their first Wife were named
Linda, second Wife Betty, both named their son James Allan, both had dogs named
toy. Both were mediocore student, both suffered heart attack and they both started
getting migraine headache of about the same duration in the same period of their
lives. These cases of similarities of twins raised apart supported the position that
heredity plays a major role in personality. Despite these unusual and interesting cases,
a recent comprehensive review of research found that personality is more affected by
environment than any other areas of human functioning but there are still questions to
be answered. Heredity Vs environment debate is still alive and no definite conclusions
are yet possible. But it is clear that physical attribute are largely attributed to heredity.

 Environment

a) Factors that exert pressures on our personality formation


 The culture in which we are raised
 Early conditioning
 Norms among our family
 Friends and social groups

23
Indian Management Thoughts & Practices

b) The environment we are exposed to plays a substantial role in shaping our


personalities.
c) Culture establishes the norms, attitudes, and values passed from one generation to
the next and creates consistencies over time.
Man cannot be separated from his environment. His consciousness is inextricably
linked with his surroundings, physical and social. He adapts himself to his social
environment as well as his physical environment. Both environments affect his
organic and mental development. Neither nature nor nurture is more important
because they are both essential for the development of the human personality. The
basic relativity of nature and nurture cannot be overlooked. Sentience imports for us
to be conscious of something and that something, whether painful, pleasurable, or
indifferent, comes within our experience. Some experiences are agreeable and some
disagreeable; some are of our own seeking and some are thrust upon us. The
character, quality, and trend of such experiences depend upon and are, to a great
extent, determined by our birth, nationality, place, etc. - in short, by heredity and
environment.

By far the most important part of the overall environment of man is the social
environment. It differs from one nation to another, one period to another, one class to
another, and its influences are outside the control of any one individual. The social
system needs to be remodeled such that individual success does not conflict with
communal welfare. This can be achieved by encouraging such social traits as altruism,
readiness to cooperate, sympathetic enthusiasm, and so forth, instead of putting a
premium on many anti-social traits such as egoism, cunning, and insensitivity to
human misery.

All in all, differences among mankind are the outcome of nature and nurture, of
heredity and environment. Some are sharp, some are dull. Nevertheless many
apparently dull persons can be restored to normal intelligence by proper education,
regular exercise of the mind, and facilities for wholesome association. The way to
progress lies in a ceaseless effort to develop our knowledge and intelligence. Such
development is possible only when the mind is kept steady and well-poised.

24
Indian Management Thoughts & Practices

Thus, Heredity sets the parameters or outer limits, but an individual’s full potential
will be determined by how well he or she adjusts to the demands and requirements of
the environment.

Q.10 Distinguish between Role Personality and True Personality.

True personality and Role personality:

There are two types of personality associated with every individual, one is the true
personality and the other is the role personality. The true personality of a person is his
true behavior, his true thinking, his conscience and beliefs, his true mindset etc. it is
that aspect of an individual, which never changes irrespective of the role, he/she
plays. Take for example, a person who is very rigid in his thinking and who is also
very dominant. Such a person’s behavior would not change in whatever kind of
situation or circumstances he/ she is put in. These are the people who are born with a
kind of personality, they live with that kind of a personality and they die with that
kind of a personality. On the other hand there is something known as a role
personality. Every individual has to play a varied number of roles during his/her life
span. He may have to play the role of a son, a grandson, a brother, a friend, a husband,
a student, a father, a manager, a colleague and several other roles. Every role demands
a specific kind of behavior. Having a same behavior in all the roles may be
unacceptable and may be considered odd and vague. No matter what’s the true
personality of an individual is, every individual must be willing to change and adopt
his/her behavior and attitudes along with the role he/she play’s. A true personality may
not be quite different from the role personality, mainly because the role personality
evolves from a true personality. True personality is a source, which guides a person’s
behavior in different roles. We see so many managers, all the managers perform the
jobs which are more or less of the similar nature, such as planning, organizing,
directing, controlling etc, but yet we see no two mangers completely alike. This is
mainly because every person has a unique personality, which is unique only to him.
There may be many people alike, but no two individuals would be the same. Thus in
the case of managers even though their jobs are of the same nature, their true
personalities are different, their approaches of work are different and their personal

25
Indian Management Thoughts & Practices

characteristics and backgrounds may be different. Every human being is gifted with a
good intellect and it is with the use of this intellect by way of which an individual can
decide what is good or bad for him. Similarly every individual also realizes what kind
of behavior is expected in what role and he tries to behave accordingly. Role
personality is like a dual personality. A person tends to be more acceptable when his
behavior is in accordance with the group he/she belongs to or the role he / she play’s.
Take for example, that in a group of friends if a person tries to play the role of a
father rather than a friend, then his behavior tend to be unacceptable to the group of
friends. Thus every behavior should be in accordance with the role one performs.
Another aspect of one’s personality is that many a times’ people have a different
behavior towards the society and a different behavior at one’s home. The behavior
towards one’s society may many a times be a kind of an artificial behavior, which is
done with an intention to impress others. Such kind of a behavior is extremely
dangerous because a person tends to behave against his true personality and thus
many never derive a sense of satisfaction from his behavior. Thus to conclude we can
say that the personality of an individual is a very complex phenomenon, which needs
to be dealt very carefully.

Q11. Is it possible in today’s world to integrate values and management?

Q12. How far is it important for managers to search for Inner Peace in the midst
of “Hustle & bustle” of corporate life?

Q13. Is business Excellence possible without compromising on integrity, quality


& economy/profitability?

Q14. Analyze the feasibility of appointing an “advisor on ethical matters” in a


business firm?
(And)

Q.15. Critically analyse the benefits of ethical practices in management.


"What is ethics?" Simply put, ethics involves learning what is
right or wrong, and then doing the right thing -- but "the right thing"

26
Indian Management Thoughts & Practices

is not nearly as straightforward as conveyed in a great deal of


business ethics literature.
Values, which guide how we ought to behave, are considered moral values, e.g.,
values such as respect, honesty, fairness, responsibility, etc. Statements around how
these values are applied are sometimes called moral or ethical principles.
What is "Business Ethics"? The concept has come to mean various things to various
people, but generally it's coming to know what it right or wrong in the workplace and
doing what's right -- this is in regard to effects of products/services and in
relationships with stakeholders.

Business ethics is now a management discipline. Business ethics has come to be


considered a management discipline, especially since the birth of the social
responsibility movement in the 1960s. In that decade, social awareness movements
raised expectations of businesses to use their massive financial and social influence to
address social problems such as poverty, crime, environmental protection, equal
rights, public health and improving education. An increasing number of people
asserted that because businesses were making a profit from using our country's
resources, these businesses owed it to our country to work to improve society. Many
researchers, business schools and managers have recognized this broader
constituency, and in their planning and operations have replaced the word
"stockholder" with "stakeholder," meaning to include employees, customers, suppliers
and the wider community.

The emergence of business ethics is similar to other management disciplines. For


example, organizations realized that they needed to manage a more positive image to
the public and so the recent discipline of public relations was born. Organizations
realized they needed to better manage their human resources and so the recent
discipline of human resources was born. As commerce became more complicated and
dynamic, organizations realized they needed more guidance to ensure their dealings
supported the common good and did not harm others -- and so business ethics was
born.

Note that 90% of business schools now provide some form of training in business

27
Indian Management Thoughts & Practices

ethics. Today, ethics in the workplace can be managed through use of codes of ethics,
codes of conduct, roles of ethicists and ethics committees, policies and procedures,
procedures to resolve ethical dilemmas, ethics training, etc.

Golden Rule of Ethics

1. Everything you want others to do to you, you shall do to others.

2. Do not do to others that which you do not wish them to do to you.

3. Do not do anything to others that if done to you, would cause harm to you.

These are the basis of all human and moral values. They have universal application.
These are the core values to change oneself first.

A manager and worker with moral and ethical values has a state of mind; equanimity.
Such a person can mobilise his and other’s energy and help accomplish wonders.
Our effectiveness at work is tied to exercising intrinsic human values i.e. moral and
ethical values. These human values support established business values such as
service, communication, excellence, credibility, innovation, creativity, and co-
ordination. The human values help self development.
Managerial functions such as direction, control, supervision and communication,
integration and coordination are much easier. The human values also help good
interpersonal interactions. They reduce conflicts and disputes. They enhance
reputation and goodwill of the organization.

Values and Quality of work life.

Ethics and values must be an important part of management and work culture. Human
harmony and happiness are the main objectives of any enterprise to justify its survival

28
Indian Management Thoughts & Practices

and progress. Any organization, which cares for its people, should not ignore any
unhealthy development.

Human response Management


People constitute the greatest dynamic inputs in any organization. Development of
people not in skills but also in moral, ethical and spiritual values now becomes the
necessary end itself. Morality and rationality are combined at the same time in HRD.

Value Driven Management.


Ethical and moral values and moral character alone can accelerate the unfolding of
person’s divinity. Such a person will have poise, wisdom, harmony and peace to
manage effectively others and to assure quality of mind as well as enriched quality of
work. Effectiveness in performance of managers and workers is a function of values
and skills together. Values should be an integral part of corporate mission, objectives.
They should be expressly mentioned in the mission document.
Let us note that success of Japan is based on values familiar to Indians, using
spiritual education and practices e.g. concentration, meditation, lectures of spiritual
leaders, mind stilling, intuition etc to neutralize the evil effects of reckless
industralisation and to synthesise the human values into management and
organization. Japan has combined spiritualism and materialism and adopted value
driven holistic approach in management and organization. Let the global management
adopt this.

Few benefits of ethical practices in management:

Ethics programs cultivate strong teamwork and productivity. Ethics programs align
employee behaviors with those top priority ethical values preferred by leaders of the
organization. Usually, an organization finds surprising disparity between its preferred
values and the values actually reflected by behaviors in the workplace. Ongoing

29
Indian Management Thoughts & Practices

attention and dialogue regarding values in the workplace builds openness, integrity
and community -- critical ingredients of strong teams in the workplace. Employees
feel strong alignment between their values and those of the organization. They react
with strong motivation and performance.

Ethics programs promote a strong public image. Attention to ethics is also strong
public relations -- admittedly, managing ethics should not be done primarily for
reasons of public relations. But, frankly, the fact that an organization regularly gives
attention to its ethics can portray a strong positive to the public. People see those
organizations as valuing people more than profit, as striving to operate with the
utmost of integrity and honor. Aligning behavior with values is critical to effective
marketing and public relations programs. Bob Dunn, President and CEO of San
Francisco-based Business for Social Responsibility, puts it best: “Ethical values,
consistently applied, are the cornerstones in building a commercially successful and
socially responsible business.”

Overall benefits of ethics: Donaldson and Davis, in “Business Ethics? Yes, But What
Can it Do for the Bottom Line explain that managing ethical values in the workplace
legitimizes managerial actions, strengthens the coherence and balance of the
organization’s culture, improves trust in relationships between individuals and groups,
supports greater consistency in standards and qualities of products, and cultivates
greater sensitivity to the impact of the enterprise’s values and messages.

Last - and most -- formal attention to ethics in the workplace is the right thing to
do.

Q.16. What are hallmarks of a good strategy relating to the establishment of


values? Link this to the recent cases like those of Enron and stock exchange
scams in India.

The Honourable Union Finance Minister, Shri Yashwant Sinha, while inaugurating the
17th Annual Session of FICCI Ladies Organization (FLO), stressed the need to

30
Indian Management Thoughts & Practices

formulate and adhere to a set of strong corporate governance practices. He was


addressing the august audience of leading businesswomen of FICCI on "The
Emerging Need for Corporate Governance".
He said : "Today we need a pragmatic approach rather than a narrow doctrinaire
approach to serve our needs. It is essential that we have high ethical standards of
corporate governance, followed voluntarily, having community sanctions which will
have much more effectiveness. Only then our endeavour at economic reforms and
liberalization will fructify".
Finance Minister exhorted the business leaders to set up examples in corporate
governance of high ethical standards, which will create better value for all the
stakeholders and will lead to growth, which in effect will help the country to fight
poverty and debilitating diseases. This alone, he felt, will enable the Government to
justify the efforts at liberalization and bringing in economic reforms.
Enron, they say, is an example of the ethics of corporations and the free
market. Commentators have told repeatedly that Enron's executives were motivated
by "greed" and "selfishness."
Philosopher Harry Binswanger points out, the premise behind this statement is
that lying, cheating and stealing is the best way to make money and be selfish -- and
the fear of prison is the only disincentive for wholesale fraud and looting. Professor
Binswanger goes on to point out that this statement reflects a whole approach to
morality. To be principled and moral, in this view, means to sacrifice one's interests
by, say, going into social work or taking a vow of poverty. The logical flip-side is that
to be self-interested, to pursue wealth and happiness -- well, that requires no
principles or morality at all, just a random, range-of-the-moment grab for whatever
one can get one's hands on.
This is the predominant moral outlook today, especially on the left. Ironically,
Enron seems to have implemented this view of morality to a T. To enrich themselves,
Enron's executives lied to shareholders and cooked the books to produce fake profits,
ignoring the company's long-term financial problems. The joke was on them, though,
because it didn't work. They didn't make money; instead, they bankrupted their
company and destroyed their own reputations. And they don't seem to have profited
even in the short term.

31
Indian Management Thoughts & Practices

A social institution, including a corporate entity, derives its legitimacy from its
ability and desire to fulfill social needs. It is therefore, accountable to the society. No
institution, however high and mighty it is, can ignore its responsibility towards the
society from which it derives its strength and sustenance.
The recurring financial crises and the scams that rocked the nation in the
recent past call for a sharper focus on corporate governance. The only way we can
protect our interest and also those of the public at large is to build "firewalls" by
putting in place the practices of good corporate governance.Corporate Governance
has succeeded in attracting a good deal of public interest because of its importance for
the economic health of corporations and the welfare of society.
According the Economist and Noble laureate Milton Friedman, Corporate
Governance is to conduct the business in accordance with owner or shareholders’
desires, which generally will be to make as much money as possible, while
conforming to the basic rules of the society embodied in law and local customs. This
definition is based on the economic concept of market value maximization that
underpins shareholder capitalism. Over a period of time the definition of Corporate
Governance has been widened. It now encompasses the interests of not only the
shareholders but also many stakeholders. J. Wolfensohn, President, World Bank as
saying that "Corporate Governance is about promoting corporate fairness,
transparency and accountability".
Corporate governance also includes in its ambit, the manner in which their boards of
directors govern the business and affairs of individual institutions and their functional
relationship with senior management.
Corporate governance is determined by how Organizations:
• Set corporate objectives (including generating economic returns to owners);
• Run the day-to-day operations of the business and;
• Consider the interests of recognised stakeholders i.e. employees, customers,
suppliers, supervisors, governments and the community and
• Align corporate activities and behaviours with the expectation that
organizations will operate in a safe and sound manner, and in compliance with
applicable laws and regulations.

32
Indian Management Thoughts & Practices

sound corporate governance should have, as its basis, the following strategies and
techniques:
• The corporate values, codes of conduct and other standards of appropriate
behaviour and the system used to ensure compliance with them;
• A well-articulated corporate strategy against which the success of the overall
enterprise and the contribution of individuals can be measured;
• The clear assignment of responsibilities and decision-making authorities,
incorporating an hierarchy of required approvals from individuals to the board
of directors;
• Establishment of a mechanism for the interaction and cooperation among the
board of directors, senior management and the auditors;
• Strong internal control systems, including internal and external audit
functions, risk management functions independent of business lines, and other
checks and balances;
• Special monitoring of risk exposures where conflicts of interest are likely to be
particularly great, including business relationships with borrowers affiliated
with the bank, large shareholders, senior management, or key decision-makers
within the firm (e.g. traders);
• The financial and managerial incentives to act in an appropriate manner
offered to senior management, business line management and employees in
the form of compensation, promotion and other recognition; and
• Appropriate information flows internally and to the public.
For ensuring good corporate governance, the importance of overseeing the various
aspects of the corporate functioning needs to be properly understood, appreciated and
implemented.
Ethics and values in corporate governance
No discussion on public affairs will be complete without a reference to Ethics
and Values. The quality of corporate governance is also determined by the manner in
which top management, particularly the Board of Directors, allocates the financial
resources of the company as between themselves and other interest groups such as
employees, customers, government etc. The basic qualities invariably expected in this
regard are trust, honesty, integrity, transparency and compliance with the laws of the

33
Indian Management Thoughts & Practices

land. There is an increasing body of public opinion that would expect a business
enterprise not only to be a mere economic unit but also to be a good corporate citizen.
For this, its corporate governance must be based on a genuine respect for Business
Ethics and Values.
To quote the words of Benjamin Franklin
" A little neglect may breed great mischief… for the want of a nail, the shoe was lost;
for the want of a shoe, the horse was lost and for want of a horse, the rider was lost
and for want of a rider the war was lost"
Little drops of water make the mighty ocean. Little acts of neglect might cause
major scams. It takes only a small hole to drown a big ship. Therein lies the secret of
good corporate governance and the key to Corporate Excellence.

Q.17 Make a comparative study of values system practiced in Japan, China and
America.
Value systems in Japan, China and America differ as follows:
A Japanese employee remains in a single organization, once he joins it.
Actually, this happens because, in Japan, job security is valued most. On the other
hand, in China, hire-fire policy works on rampant scale. Major sectors have state-
owned players. China practises communism, hence equitable wages exist everywhere.
Job-hopping is virtually non-existent because of similar opportunities. In America,
job-hopping has become obvious. Employees keep on changing jobs in search of
better avenues.
In Japan, workers play important role in decision-making, as in they are
considered as owners of the organization. They practice various concepts like quality
circles and help organization towards achievement of goals. Usually group-incentive
schemes are common practice in the Japan. In China, state is the owner of all the
channels of production. Employees have got nothing to do with the decision-making
process. In the US, capitalism has resulted into private ownership. Employees are a
part of decision-making process, but usually through individual incentive scheme.
Japanese believe in ‘Keiretsu’, the long-term relationships with their
stakeholders, their suppliers. It is because of their social attachment that they
collectively achieve success. In China, government maintains relationships with the
stakeholders as per its communist ideology, while in the US, relationships exist on

34
Indian Management Thoughts & Practices

professional level, and suppliers are selected on the basis of cost-effectiveness and are
changed for better bargains.
The above were some of the differences in Japanese, Chinese and American
ideologies.

Q.18 Short Notes

a) Harmony with Environment.


With the help of YOGA, meditation man (manager) tries to purify himself within,
tries to eliminate dust of anxieties, stress, depression from his mind and tries to
achieve tranquility so that he can work in present and with more concentration and
achieve his targets efficiently. Thus practicing these activities he truly and only
concentrates on his body and his work, but at the same time man cannot ignore the
environment he is living in. As he concentrates on himself to realize his targets, he
has to get harmonize with the environment for the same. He has to get adjust with
the people around him, his family, his home, his office environment, his boss,
subordinates, nature around etc. So that it would have positive impact on his
actions, his mind, ideas will flourish in harmonized environment. He could also
maintain healthy and natural lifestyle. Locating and shaping spaces in harmony
with both the physical and the spiritual environment is required to empower the
harmonious interaction between person and place. Harmonizing with environment
will result into getting along with people, so that managers will not face any
oppositions in his work, and thus will not get any pressures, depression, stress,
jealousy, anxiety, overwork which are route cause of all negative happenings.

b) Self Control
Self-control is the ability to make choices about how one behaves and acts rather than
relying on impulses. Instead of acting on instinct or immediate impulse, individuals -
with self-control pause and evaluate a situation and the consequences that may result
from their behavior.

35
Indian Management Thoughts & Practices

Wouldn't it be wonderful if you could control your behavior? You'd avoid over-eating,
alcoholism, all bad habits, procrastination, being late, impulsive comments and
purchases, sinful behavior, misplaced objects and papers, rushing at the last minute,
etc. Instead, you'd have good health, a beautifully exercised body, excellent work
habits, an organized life, success, good social graces, good mental health, healthy
attitudes, and practically a guarantee of getting into heaven.

The truth is: you can't control all your behavior. We are all a little out of control. Some
of us are seriously out of control. For example, some of us are ruining our lives and/or
killing ourselves with food, drugs, alcohol, cigarettes, careless driving and other ways.
Some of us are blowing off our school work or our jobs but still believing, even
though it is very unrealistic, that we will "be successful." Some of us can't get or hold
a job, or hold on to love, or properly care for our children, or manage a home and pay
our debts. There is an enormous difference between the people who are out of control
and those in control. It is important to understand the causes of behavior and how to
change it. We could all gain better control.

Thus,
Self-control is a set of behaviors which:
1.Accepts the reality that the only thing in life which you can successfully change and
control is yourself.
2.Keeps in check all self-destructive, addictive, obsessive, compulsive, irrational, and
unacceptable behaviors.
3.Gives you a sense of personal mastery, autonomy, and competency over your own
life.
4.Is under your control and power to direct and orchestrate with no need for
interference or manipulation from others.
5.Makes you the master of your own destiny because it keeps in check those barriers
and obstacles which are a threat to your overall success in life.
6.Is a middle ground between perfectionism and laxity in self care.
7.Results in your life having a balance and focus by helping you to cope with new
challenges in life as they come.
8.Helps you to keep your over-emotional responses in check or moderation.

36
Indian Management Thoughts & Practices

9.Helps you to open yourself up from nonfeeling or pulled-in emotions so that you
can have a healthy emotional life.
10.Is the foundation for healthy coping and contributes to your accepting personal
responsibility for your life.
11.Keeps your life in moderation, helping you to avoid extremes in any direction.
12.Is the focus of the efforts to let go of the uncontrollables and unchangeables in
your life so that you can concentrate on yourself.
13.Eliminates the need for you to be manipulative, helpless, fixing others,
intimidating, overdependent or a caretaker of others.
14.Helps you to be detached from others and to keep your relationships in a healthy
balance of give and take.
15.Reflects your inner desire to grow up into a mature, responsible adult.

If you don't have the capacity to change yourself and your attitudes, then nothing
around you can be changed.
-The Koran

Negative Effects of not gaining self control

§ Suffer the negative impact of your out of control behaviors such as alcoholism,
chemical dependency, overeating, compulsive sex, addictive relationships,
compulsive shopping, gambling, smoking, etc.
§ Become deeply depressed and despondent over your weakness and inability to get
your life into "check'' or 'balance.''
§ End up convinced that there is no way you can get your life into balance because the
amount of work, effort, energy, and resources needed are too great an investment just
for you when there are so many other people, places, and things on which you could
better focus attention.

§ Experience even lower self-esteem because of your inability to believe enough in


your worth and value to take action to get your life into control.

37
Indian Management Thoughts & Practices

§ Find it impossible to become detached from people, places, or things who are toxic
or unhealthy for you.

c) Dharma, Swadharma and Detachment


DHARMA Dharma is the law of right living, the observance of which secures the
double object of happiness in your own life and also the happiness in others life. It
stands for all those ideals, purposes, influences, institutions, and the ways of life and
conduct that shape the character and evolution of man both as an individual and as a
member of the society. The openly spirit, righteousness (godliness), and fearlessness
are the three divine elements of Dharma given explained below:
Dharma is spirit (or evolves from spirit) in Indian ethos. The inclusion of dharma is
like rediscovering a vacant upstair room in one’s heat chamber. ‘Do right thing
(‘Dharman Chara), do good, be good and the whole chamber of our heart shines with
Light of Consciousness’. In dharma, not mere action but rightness is given great
emphasis.
Dharma stresses fearlessness. Divine touch is enough to convert difficulties into
opportunities. Of course one should know the truth about oneself. Dharma is the
‘inner law of one’s life’, the moment we are unconscious or ignore that inner law, our
life is paralyzed. We feel isolated. Our degeneration is sure. No wonder we feel
missing and incomplete. Dharma is ethics and spirituality combined. Follow your
Dharma and it will protect you or stand by you. One has to comply with his own
Dharma. Nobody has ever violated Dharma without ultimately courting disaster. Each
one has his/ her own dharma.
Dharma Of Management/ Organization
Each organization and management is considered by Indian ethos as a living entity,
having heart, soul and Dharma. The traits of dharma or integrity, e.g. Courage, self
discipline, goodness, righteousness and all other essential and ethical values constitute
the character of management / organization just as they are of the individual character.
They must follow their own dharma (collective heart/soul), otherwise pay the price. A
soul less company has no life. The spirit is the root or ultimate source of all values
and character, which are the invaluable assets of the credibility and goodwill of
individuals, organization and management.

38
Indian Management Thoughts & Practices

SWADHARMA: Gita emphasizes that Swadharma (one’s duty based on one’s


swabhava – inclination and aptitude – on the work that falls to one’s lot by virtue of
one’s placement in society) should be carried on for the general welfare of society and
as worship of Divine, as our offering to god. This call to work in the true Yajna spirit
is an exhortation to support and actively co-operate in the Divine’s evolutionary
design and to live with the mother earth, safeguarding her grand ecological balance.
Results are an inevitable consequence of wrong Karma.

DETACHMENT:
Detachment is the:
Ability to allow people, places, or things the freedom to be themselves. Giving
another person "the space'' to be him or herself. Disengaging from an over-enmeshed
or dependent relationship with people. Willingness to accept that you cannot change
or control a person, place, or thing. Developing and maintaining of a safe, emotional
distance from someone whom you have previously given a lot of power to affect your
emotional outlook on life. Ability to maintain an emotional bond of love, concern,
and caring without the negative results of rescuing, enabling, fixing, or controlling.
Ability to exercise emotional self-protection and prevention so as not to experience
greater emotional devastation from having hung on beyond a reasonable and rational
point. Ability to allow people to be who they "really are'' rather than who you "want
them to be.'' Ability to avoid being hurt, abused, taken advantage of by people who in
the past have been overly dependent or enmeshed with you.
What are the negative effects not detaching?
If you are unable to detach from people, places, or things, then you:
Will have people, places, or things which become over-dependent on you. Run the
risk of being manipulated to do things for people, at places, or with things, which you
do not really want to do. Can become an obsessive ``fix it'' who needs to fix
everything you perceive to be imperfect.
Will most probably become powerless in the face of the demands of the people,
places, or things whom you have given the power to control you. Will be blind to the
reality that the people, places, or things, which control you, are the uncontrollable and
unchangeable you need to let go of if you are to become a fully healthy, coping

39
Indian Management Thoughts & Practices

individual. Might become caught up with your idealistic need to make everything
perfect for people, places, or things important to you even if it means your own life
becomes unhealthy. Run the risk of becoming out of control of yourself and
experience greater low self-esteem as a result. Run the risk of losing your autonomy
and independence and derive your value or worth solely from the unhealthy
relationship you continue in with the unhealthy person, place, or thing.

d) Holistic approach to personality

Ancient Greek and Indian wisdom and insight considered the human individual, a
unique living entity having self-consciousness and human self a complex of body,
mind, heart, intellect and spirit or soul. We have to pay equal attention to all the
aspects of human personality and consider him as a whole or complete being, having
practically unlimited potential energy and power to develop himself and acquire
perfection so that he can enjoy all round internal and external harmony and progress.
This is called holistic approach in self management and management of any
enterprise as well.

e) Corporate Values

40