Traits Of An Ancient Indian Wisdom In Modern Sustainable Business Management- A Case Study

Abstract

“Wyasotchishtam jagat sarvam” (व्यासोच्चिष्टं जगत् सर्वम्) is a Sanskrit dictum that connotes, ‘whatever we read, write and research today, has its origin in the Mahabharata’. Ancient Indian knowledge system strives to be the treasure of wisdom, parenting the modern branches of knowledge and management. This study witnesses a long list of influential modern management gurus namely Steve Jobs, Bill Gates, Mr. Narayan Murthi and so on. Albeit, the need for more Gurus does not seem to cease. Mindful of this need, Indian mystique guru ‘Shri Sadguru’ is a guiding force for mankind. He influenced the world by teaching the management of our mind, body and soul through ‘inner engineering’. Despite lacking professional training from management institutes, his management advice is followed by many. He gives due credit of his rational scrutiny to Indian ancient wisdom. Similarly, the present study hypotheses that the great ancient Indian knowledge system has remained a reasonable and sensible source for propagating modern branches of knowledge. The paper aims at finding out the traits of the ancient Indian management system and its reflection in the present-day studies of management. The researcher will apply some of the key concepts of the management introduced by the father of management studies ‘Mr. Peter Drucker’ such as good leadership, constant innovation and change, decentralisation, social responsibility and its indirect references from Indian religious scriptures. The paper is divided into two parts. Firstly, Lord Krishna’s speech known as “Shrimad Bhagavad Gita'' on the battlefield, is investigated as the best text resource of management of mind, body and soul. It also imparts knowledge on efficient managerial and good leadership techniques. The researcher focuses on how traditions and wisdom have evolved and transformed from one generation to the other. Secondly, Lord Gautam Buddha’s preaching of human resource management will be analysed and how it has been carried forward in modern times. The research aims at finding out the legacy of ancient Indian wisdom into current discipline called ‘business management’.