TITLE PAGE:

Author’s Name: Swarnima Jaiswal

Affiliation: Research Scholar
Organization: Faculty of Commerce, Banaras Hindu University, Varanasi.
Address: N1/69C Krishnabagh Apartments, Nagwa, Lanka, Varanasi-221005.
Email: swarnimajaiswal@yahoo.co.in
Mobile no: +91 9793097071
Sub area: Innovative Practices in Finance & Accounting

Title of the Paper: Spirituality, Ethical Behaviour & the Ethical Business
Keywords: Spirituality, Ethical behaviour, Corporate Ethics, Spiritual Values & Virtues.

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 SPIRITUALITY, ETHICAL BEHAVIOUR & THE ETHICAL
BUSINESS

ABSTRACT:

The link between spiritual values, ethical behaviour and ethical business is not new.
For centuries, people have strived to interpret their work through ethical lenses. The only
difference is that, earlier the individuals used to associate their work with their respective
religion which has now been replaced by the present day terminology of spirituality & ethics,
as it is a better construct for understanding the relationship between the individual and
organization. This current perspective is gaining wide attention in various business circle,
academia and government entities that views spirituality as positively influencing factor for
the corporate entities. Also implicit within this discourse is the notion that allowing and
encouraging spirituality in the workplace majorly, codes of ethics, codes of practice, codes of
conduct and punitive measures leads to improved ethical behaviour at a personal level and
an overall enhanced ethical climate at an organisational level. What is unclear, however, is
how a spiritual person’s behavioural characteristics, spiritual values, spiritual virtues
translate into ethical behaviour within an organisation. The paper attempts to explain this
process and concludes that spiritual persons are more likely to be ethical as well. Such
individuals ensure spiritually virtuous and ethical businesses.

KEYWORDS: Spirituality, Ethical behaviour, Corporate Ethics, Spiritual Values & Virtues.

INTRODUCTION:

To survive in the 21st Century, organizations must offer a greater sense of meaning and
purpose for their workforce. Thus, there has been an increased focus on the spirituality and
spiritual phenomenon in the business world with many modern managers discovering or
rediscovering the importance of a spiritual dimension in their work lives and in their work
relationships. Unlike the marketplace economy of 20 years ago, where it was not considered
appropriate for someone spiritual to be in a business setting when business and spirituality, or
business and charity appeared to be poles apart. Essentially, business was to give less and
take more.

However, many of us today believe that there’s more to life and business than profits
alone. In today’s business world, values and ethics are given due attention. The backbone of
business is trust. If trust is broken, business cannot succeed. Greed kills the consciousness.
Corruption is the greatest evil in the world. Africa has no money to feed its people, yet there
are billions in the bank accounts of corrupt individuals. How can the corporate world be so
blind when there is such suffering in the society? Corruption happens out of a sense of non-
belongingness. No one can be corrupt towards the people they belong to. Thus, one needs to
bring a sense of belongingness, a sense of responsibility within these corporate entities.

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 Describing spirituality in business from different perspectives, one may say that, it’s
simply embodying one’s personal values of responsibility, integrity, honesty, accountability,
quality, cooperation, caring, service, loyalty, trustworthiness, respect, justice, & passing
benefits to concern. For some it may be participating in spiritual activities such as prayer,
meditation, or intuitive guidance at work. And for some, it’s making their business socially
responsible in how it impacts the environment, serves the community or helps create a better
world. Giving due attention to these spiritual values into the workplace will build greater
sense of spirit in their work environment. Hence, contained within this discourse is the notion
that spiritual individuals are ethical in business, and consequently, are of significant benefit to
an organisation.

OBJECTIVES OF THE STUDY:

The main objective of this paper is to study and understand how a spiritual person’s
behavioural characteristics, spiritual values, spiritual virtues translates into ethical behaviour
within an organisational context

RESEARCH METHODOLOGY:

The methodology of the present study relied mainly on the web based research, review
of the printed literature, books, research papers and magazines to understand the link between
the behavioural characteristics of a spiritual person’s spiritual values & spiritual virtues and
the ethical business.

RATIONALE OF SPIRITUALITY

Researchers revealed that to survive into the 21st Century, organizations must offer a
greater sense of meaning and purpose for their workforce. In today’s highly competitive
environment, the best talent seeks out organizations that reflect their inner values and provide
opportunities for their personal development and community service, not just bigger salaries.
Another factor of spirituality at work is the fact that spending more time at work means there
is less time available for religious activities. These busy professionals who are pressed for
time are afraid that they have abandoned their faith or religion. A growing numbers of
business people want their spirituality to be more than just faith and belief – they want it to be
practical and applied. They want to bring their whole selves to work - body, mind and spirit.
Many business people are finding they can “do well by doing good.” People at all levels in
the corporate hierarchy increasingly want to nourish their spirit and creativity. Spiritually
satisfied people work harder and are more likely to stay at their jobs. Across the country,
people increasingly want to bring a greater sense of meaning and purpose into their work life.
They want their work to reflect their personal mission in life. Many companies are finding the
most effective way to bring spiritual values into the workplace is to modify the company’s
vision and mission, and to align it with a higher purpose and deeper commitment to service to
both customers and community.

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 Bringing spirituality into business means developing more conscious, caring
relationships in the workplace based on the spirit of goodwill. Workers strive together to
create a common purpose. They work with a spiritual approach that honours the essential
divinity in each person, and may use prayer and/or meditation to guide their decisions. Some
business people are comfortable using the word “spirituality” in the work environment, as it’s
more generic and inclusive than “religion.” The word “spirituality” emphasizes how values
are applied and embodied. Those who aren’t comfortable with the word “spiritual” prefer to
talk more about values and “ethics” when describing the same things that others would call
spiritual.

SPIRITUALITY ATTAINMENT: CORE STRATEGIES IN INDIAN WISDOM

The traditional Indian wisdom preaches the following ways to attain spirituality:
 Soul Searching Mantra
Indian believes that creation of world happened when Shiva uttered the mool-mantra “OM”.
That is the kind of power the mantras are said to have. But for their effective use, all the rules
associated with mantra-japa have to be observed. Chanting Mantras are
the rhythmic speaking or singing of words or sounds, often used for the purpose of aligning
internal spiritual energy with the divine. Chants may range from a simple melody involving a
limited set of notes to highly complex musical structures, often including a great deal
of repetition of musical sub phrases. Chanting (including mantras, sacred text, the name of
God/Spirit, etc.) is a commonly used spiritual practice. To quote the Bhagvad Gita, for
instance, ‘Naasti udayama samo bandhuh, kritvaayam, naavsidhati’ means that there is no
friend like hard work, having done which no one regret.
 Detached Action
In order to revive the human values in life, religious teachings become important. In society,
more focus should be on the liberation & redistribution of wealth rather than the creation and
production. But it requires strong commitment to human values like detached action
(nishkam karma). Gita says, ‘karam kar phal ki ichha mat kar. Jo kuchh bhi tu karta hai, use
bhagwan ko arpan karta chal, isi se tu sada ivan- mukati ka aanand anubhav karega’. It
makes one greed free, tension free and thus will be contented.
 Meditation
People have been practicing meditation for centuries. Today we see a surge in its popularity
as new benefits continue to be discovered. Meditation has been proven to benefit both our
bodies and minds. - Medical doctors have documented the harmful effects of stress on our
physical health. During meditation our body is relaxed and our stress and tensions are
relieved. By meditating regularly, we develop sustained concentration. This increase in
concentration coupled with reduced stress and tension, renewed energy, and improved
relationships, helps us achieve success in our worldly activities.
 Yoga
There are countless styles of yoga that exist, almost all of which are birthed from Hindu
tradition.  One of the most detailed and a thorough exposition on the subject comes from,
the Yoga Sūtras of Patañjali, which defines yoga as “the stilling of the changing states of the
mind”. As the mind is trained to focus on the body, and the body is trained to work more
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efficiently and be healthier, the combination of the activity creates a prime environment for
enlightenment to occur.  In addition, the art of practicing yoga helps in controlling an
individual’s mind, body and soul. It brings together physical and mental disciplines to
achieve a peaceful body and mind, it helps to manage stress and anxiety and keep you
relaxing. Practicing yoga might seem like just stretching, but it can do much more for your
body from the way you feel, look and move.

BENEFITS OF SPIRITUALY VIRTUOUS WORKERS

Spiritual Spiritual Ethical Ethical

Person Virtues Behaviou business
r

Spirituality acts as a regulative ideal. Authentically, spiritual individuals exercise

certain virtues. These ideal/virtues compels them to subjugate their own ego while promoting
the interests of others and at the same time, causes them to search for the greater meaning in
what they do and even hold themselves accountable to a higher concern. To put this
differently, decisions and actions that harmonise with a person’s regulative ideal are
practiced, while those that clash with it are rejected. Through repeated acts, these values
become specific habits or virtues which, in turn, contribute to the further development of
one’s spiritual character. This person then will act ethically, i.e., do the right things at work.
Spiritual individuals provide their work organisations with significant advantages as they
exercise these virtues in their work context. Spiritual individuals have greater organisational
commitment, increased job motivation, increased productivity and greater job satisfaction, it
is because they see their work as a “serving humanity” not just a job and it is their job in
which they want to do the best they can with humility while respecting others.

The spiritual individual’s quest for a higher purpose, personal meaning and
transcendent values in their workplace creates a desire to integrate the self with their work.
Spiritual people are empowered to look beyond self-interest to make a difference and make
contribution to society as a whole. Being spiritually virtuous means seeking for a fulfilled
life, not just for others, but also for oneself. This focus leads to a number of outcomes that
also indirectly benefit the organisation. Spirituality endows individuals with a general
regulative ideal with specific values and beliefs which give them stability and empowers
them to cope with and solve problems faced in life. Finally, empirical evidence suggests that
a spiritual life is likely to be characterised by positive satisfaction, a greater sense of
fulfilment and a better quality of life (Dierendonck & Mohan, 2006; Mohan, 2001;
WHOQOL SRPB Group, 2006). The overall result of each of these factors is a happier,
healthier and more fulfilled employee.

HOW SPRITUALITY BEGETS CORPORATE ETHICS?

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 According to a growing body of research, bringing ethics and spiritual values into the
workplace can lead to increased productivity and profitability as well as employee retention,
customer loyalty, and brand reputation. Hence, more employers are encouraging spirituality
as a way to boost loyalty and enhance morale.

A recent study done at the University of Chicago by Prof. Curtis Verschoor and
published in Management Accounting found that companies with a defined corporate
commitment to ethical principles do better financially than companies that don’t make ethics
a key management component. Business Week magazine reported on recent research by
McKinsey and Company in Australia that found productivity is improved and employees’
turnover is reduced when companies engage in programs that use spiritual techniques for
them.

A study reported in MIT’s Sloan Management Review concluded that, “People are
hungry for ways in which to practice their spirituality in the workplace without offending
their co-workers or causing acrimony.” The word “spirituality” is used generically and seems
to emphasize how one’s beliefs are applied day to day, rather than “religion,” which can
invoke fears of dogmatism, exclusivity and proselytizing in the workplace.

Research by UCLA business professor David Lewin found that “companies that
increased their community involvement were more likely to show an improved financial
picture over a two year time period. A two year study by the Performance Group, a
consortium of seven leading European companies such as Volvo, Monsanto, Unilever, etc
concluded that environmental compliance and eco-friendly products can increase
profitability, enhance earnings per share and help win contracts in emerging markets.

CONCLUSION:

This paper has sought to explain the link between the behavioural characteristics of a
spiritual person, spiritual values, spiritual virtues and ethical business and has suggest that
where spirituality is absent, there is a clarion call to all concerned to employ spiritual
reawakening as a panacea. One cannot simply cleave off work life from the rest and treat it
simply as “factor of production” like a machine. The marketplace economy of 21st century
calls for the reintegration of work and spirituality and a reaffirmation of the moral point of
view in business decision making. Spirituality should be the basis for ethical conduct in
business as being in touch with spiritual principles and values helps to stimulate the moral
imaginations of individuals and can provide depth of understanding of the many ethical
problems that arise in business. The moral values practiced over time become virtues which
in turn help them contribute significant benefits to their organisations.

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