Apeejay Institute of Management

& Engineering Technical

Campus

ASSIGNMENT 1
SUBJECT CODE – MBA 403-18
WORKSHOP ON INDIAN ETHOS
INDIAN HERITAGE & VALUE BASED MANAGEMENT
Submitted By: Submitted To:
Kamakshi Syal Ms. Kanika Chopra
MBA-4A
(211121)

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 INDIAN HERITAGE IN
BUSINESS MANAGEMENT:
Indian Heritage in Business Management refers to
the values and practices that the culture of
India (Bharatheeya Sanskriti) can contribute to
service, leadership and management. These values and
practices are rooted in Sanathana Dharma (the eternal
essence), and have been influenced by various strands
of Indian philosophy.
VALUES FROM INDIAN HERITAGE IN BUSINESS:
Shareeram - The body is meant for serving others or for the
higher common good.
Hitayacha - Endeavors should be made considering the well-
being of the world too, while considering the (spiritual) well-
being of oneself.
suddhi - To consider work as a means to grow oneself in
'Purity and Unity of Thought, Word and Deed'.
karma - To engage in work as a sacred offering.
Acc. To indian heritage man's attitude towards his social
existence shifted towards duties, obligations, and sacrifice.
The belief in indian heritage is of ‘Simple living and high
thinking'. Indian heritage emphasised that the essence of
covilisation lies not in multiplication of wants but in the
purification of human character.

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INDIAN HERITAGE IN PRODUCTION:
From the point of view of economists, production from local
resources for local needs is the most rational way of
economic life. In the beginning, humans have tendency to
produce goods and products according to their basic
requirements or we can say needs. Needs, wants and desires
are the part of one's life. Production is required for Fulfilling
these needs.
Nowadays, many natural resources or non-renewable
resources are used in excess to produce goods and services.
Productive resources should be diverted to produce most
essential goods, i.e., the resources used in the production of
alcohol, harmful chemicals and arms should be used for the
production of food, clothing and house building.
INDIAN HERITAGE IN CONSUMPTION:
Consumption increased number of production ways and time
to time developed new methods and techniques of
production, a measure of standard of living, judged by the
amount of annual consumption. Consumption is mainly a
means to welfare of human being. The aim should be to
obtain the maximum well-being with minimum consumption.

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LESSONS FROM INDIAN HERITAGE FOR PRODUCTION
AND CONSUMPTION:
The production and consumption has completely changed
over the years. Now the trend is move towards more relaible,
more efficient and safer modes. Lessons are:-
Impact of Spiritual consideration: In early times, those was a
coordination between ‘Artha (money) and Karma (desire)’.
During that time, wealth creation was important but was not
the focus, so the focus was on striking proper balance
between the amount of efforts and the amount
remuneration attached to it.
Role of Great Economists: Role of great economists in terms
of their thought on production and consumption cannot be
ignored. Great intellectual i.e., mahatma Gandhi,
vivekananda, and buddha believed in one priciple of ‘more of
giving and less of grabbing'.
Increase in Per capita Income: A performance of the plan is
judged by the criteria of how quickly a country is able to
increase its per capita income. Indian heritage system did not
pay much attention to increae in per capita income the prime
focus was on spiritual growth.
Use of Resources: Indian heritage advocates the prident and
aconomic use of resourcrs in the development of man but
does not advocate the irresponsible and indiscriminate use of
resources.

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 RELEVANCE OF VALUE
BASED MANAGEMENT IN GLOBAL
CHANGE:
Value Based Management (VBM) is the management
philosophy and approach that enables and supports
maximum value creation in organizations, typically the
maximization of shareholder value. VBM encompasses the
processes for creating, managing, and measuring value.
The value creation process requires an understanding of the
attractiveness of the market or industry where one
competes, coupled with one's competitive position relative
to other players. Once this understanding is established and
is linked with key value chain drivers for cash flow and
profitability, competitive strategy can be established or
modified to maximize future returns.
The three elements of Value Based Management:
Creating Value: How the company can increase or generate
maximum future value. More or less equal to strategy.
Managing for Value: Governance, change management,
organizational culture, communication, leadership.
Measuring Value: Value Based Management is dependent
the on corporate purpose and the corporate values. The
corporate purpose can either be economic (Shareholder
Value) or can also aim at other constituents directly
(Stakeholder Value).

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Need to do:
 Treat others the way you wanted to be treated.
 Find out qualities and spirit hidden in?
 and try to bring it out in others.
 Show concern for people's well-being, it fosters
great relationship.
 Show responsibility, it brings out trust and quality.
 Caring fosters collaboration and daring.
 Truthfulness fosters honest relationships. Self-control
fosters creative, wise Decisions.

NEED OF VALUE BASED MANAGEMENT(VBM)

IN GLOBAL CHANGE:
 GLOBALIZATION
 USE OF HIGH TECHNOLOGY
 VALUE ORIENTED TRAINING
 OVERCOME SOCIAL AND CULUTRAL BARRIERS
 REDUCTION IN STRESS AT WORKPLACE
 EMPLOYEE MOTIVATION
 TOTAL QUALITY MANAGEMENT(TQM)