Managing by Dharma: Eternal Principles for Sustaining Profitability (Palgrave Studies in Workplace Spirituality and Fulfillment)

This book combines the wisdom in ancient Hindu texts on dharma, with the modern research on management to identify a set of principles that can aid business organizations in sustaining profitability. As businesses look to act more responsibly in response to the negative impact they have had on people, societies, and the environment, researchers are highlighting the changes that businesses must incorporate, with a particular focus on ethics and values. This book argues that a rapidly changing environment, a solid foundation to guide the organization, is critical. Dharma, a set of principles that holds things together or sustains life, offers such a foundation. Managing by Dharma provides business researchers with a framework to seamlessly evaluate and integrate the ethical and financial goals of business organizations. Preface Acknowledgments Contents List of Figures 1 Need for a Steady Foundation 1.1 Vasistha’s Curse 1.2 From Rags to Riches and Beyond 1.3 The Paradox of Fraud 1.4 The Gloom of Greed 1.5 When Greed Becomes Good The Evolutionary Viewpoint The Economic Viewpoint 1.6 Call for Ethics 1.7 The Two Most Common Responses Green Capitalism Corporate Social Responsibility 1.8 A Dharmic Alternative 1.9 Conclusion References 2 What Is Dharma? 2.1 The Hindu Great Flood 2.2 Universality of the Great Flood Story 2.3 The Three Pillars of Dharma Dayā What Dayā Is Not? Purushārtha What Purushārtha Is Not? Karma What Karma Is Not? 2.4 What Is Dharma? Is Dharma the Same as Religion? The Etymology of Dharma Maharshi Vyāsa’s Definition Maharshi Kanada’s Definition 2.5 Transcending the Laws of Evolution Matsyanyāya The Pancha Koshas 2.6 Conclusion References 3 Uniqueness of the Dharmic Tradition 3.1 When the Goddess of Wealth Leaves You 3.2 The Paradox of Wealth 3.3 Philosophies for Curbing Greed Postmaterialism Communism/Socialism 3.4 Religious Approaches to Curbing Greed The Abrahamic Approach The “Spiritual But Not Religious” Way The Chārvāka Way The Buddhist Way 3.5 When Desire Isn’t a Dirty Word: The Hindu Way Shankara’s Stand The Prayer of a Sage 3.6 The Purushārtha Model Dharma Artha Kāma Moksha 3.7 The Big Picture 3.8 Conclusion References 4 Dharmic Leadership 4.1 Lakshmi’s Choice 4.2 Business Lessons Managing Processes Managing Profits Managing Waste The Mindset of Leaders 4.3 The Guna Theory Beyond Good and Bad Tamas Rajas Sattva 4.4 Sattva: Optimizing the Three Gunas Role-Based Ethics Misplaced Dharma: Do Not Be Dictated by Emotions 4.5 Strengthening Sattva Sattvic Qualities That Strengthen Dharma 4.6 Conclusion References 5 Organizational Dharma 5.1 Charity with Pride 5.2 What is Organizational Dharma? 5.3 Purpose of Organizational Dharma 5.4 Qualities Underlying Dharma 5.5 Conclusion References 6 Enablers of Dharma 6.1 Indra’s Curse 6.2 Importance of Purpose 6.3 Organizational Purpose 6.4 Instilling Dharma—Enablers External Factors Individual Factors Organizational Factors Leadership Recruitment and Training Recognition and Reward Orientation 6.5 Conclusion References 7 Hurdles/Challenges 7.1 Bhishma’s Dilemma 7.2 What’s in a Name? 7.3 A Dharma Breakdown 7.4 Instilling Dharma—Hurdles External Factors Individual Factors Organizational Factors 7.5 Conclusion References 8 Case Studies 8.1 The Power of Stories 8.2 Drink Responsibly 8.3 Dying with Dignity 8.4 Towards a Better Community 8.5 Conclusion References 9 Concluding Thoughts 9.1 Advice for Rama 9.2 Dharma’s Promise 9.3 Final Words References Index