Indian ethos

Basics about Indian Ethos in management

1. Indian Management Practices 4.1.1.Indian Ethos: Essential Features & insights 4.1.2.Indian Management Practices 4.1.3.Challenges before Indian Managers 4.1.4.Management Audit: Meaning of management audit, Need, Importance, Objectives and advantages of management audit

2. Meaning Ethos is a set of beliefs, ideas, etc., about social behaviour and relationship of a person or group. Indian ethos refers to the principles of self-management and governance of society, entity or a system by wisdom as revealed and brought-forth by great scriptures like Veda, Upanishads, Gita, Mahabharata, Bible and Quran.

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7. Indian Ethos in Management ( IEM ) The body knowledge which derives its solution from the rich and huge Indian system of ethos is known as Indian Ethos in Management (IEM). It helps a manager look at the perceived problem situation in a creative manner. The silent ideas and thoughts of Indian Ethos in Management revealed by Indian’s ancient scriptures are: 1. आत्मनो मोक्षार्थं जगद्हिताय च Atmano Mokshartham Jagat Hitaya Cha : All work is an opportunity for doing well to the world and thus gaining materially and spiritually in our lives.

8. 2. आर्चेत दाना मानभयं Archet Dana Manabhyam : Worship people not only with material things but also by showing respect to their enterprising divinity within. 3. आत्मना विन्द्यते वीर्याम Atmana Vindyate Viryam : Strength and inspiration for excelling in work comes from the Divine, God within, through prayer, spiritual reading and unselfish work. 4. योगः कर्मशु कौशलम , समत्वाम योग उच्यते Yogah Karmashu Kaushalam , Samatvam Yoga Uchyate : He who works with calm and even mind achieves the most.

9. 5. यदीही भावना यस्य सिद्धी भवती तंद्रीशी Yadishi Bhavana Yasya Siddhi Bhavati Tadrishi : As we think, so we succeed, so we become. Attention to means, ensure the end. 6. परस्परं भावंतांतः श्रेयः परम भाविपस्यथः Parasparam Bhavatantah Shreyah Param Bhavapsyathah : By mutual cooperation, respect and fellow felling, all of us enjoy the highest good both material and spiritual. 7. तेषां सुखम तेषां शांती शाश्वती Tesham Sukhm Tesham Shanti Shaswati : Infinite happiness and infinite peace come to them who see the Divine in all beings.

10. 8. परस्पर देवो भव Paraspar Devo Bhava : Regard the other person as a divine being. All of us have the same consciousness though our packages and containers are different.

11. Indian Ethos For Management It means application of principles of management revealed in our ancient wisdom described in Upanishades and Gita. The following basic principles of management are as per ancient Indian Wisdom and Insight : Each Soul is a Potential God Holistic Approach Equal Importance to Subjectivity/Objectivity Karma Yoga (selfless work) Yogah Karmasu Kaushalam Co – operation

12. Insights of the Indian ethos Management attitude Humanizing organization Interiorizing (self) management Self introspection Brain stilling Stepping back Self dynamising meditation Role of intuition (feeling)

13. ROLE OF INDIAN ETHOS IN MANAGERIAL PRACTICES 1. Creates strong relation: Organizations following Indian ethos consider humanity as supreme. This provides a strong bond with internal as well as external customers, resulting in an improved performance. 2. Inward considerations: Indian ethos focuses on ‘if a person is good then the whole world is good’. Any organization which follows the above ethical thought automatically get converted into an ethical organization with less conflicts and hindrances. 3. Avoids unethical aspects: As Indian ethos is a principle derived from Upanishads, Bhagwat Gita and Puranas, where the performance is always ethical

14. ROLE OF INDIAN ETHOS IN MANAGERIAL PRACTICES 4. Balanced values: Indian ethos promotes a person to live a life of materialism and spirituality by maintaining a balance between spiritual values and secular values. 5. Improves performance: Indian ethos impacts the performance of business by emphasising on the concept like sacrificing individual desires in favour of social benefits, preferring long-term benefits. 6. Improves quality: Self-motivation and self-development helps a lot in development of business and its quality 7. Helps in problem solving 8. Develops self-reliability

15. Business ethos principles practiced by Indian Companies 1. Principle of `sacrifice’ An individual is trained by the principle of `sacrifice’ through the process of `give and take’ policy. A person, who is willing to sacrifice part of his bread or effort, commands a superior place in the organization. 2. Principle of `harmony’ An individual is trained in such a way that to avoid conflicts and friction one should be guided by certain set of moral conducts and principles. 3. Principle of `non-violence’ This principle protects an organization from strikes and lockouts and unnecessary avoidable conflicts

16. 4. Principle of `reward’ The one who performs well are encouraged to do so. This implies that the activities of individuals need to be monitored and encouragement in the form of `rewards’ may cultivate the spirit of higher productivity among groups. 5. Principle of `justice’ The one who works hard is `rewarded’ and the one who fails to do so is `punished’. This is essence the principle of Justice. 6. Principle of `taxation’ The one who is taxed more is encouraged to stay fit for a longer period by proper appreciation and encouragement. This principle applies to individuals who are hardworking and productive. 7. Principle of `Integrity’ An integrated mind is more productive. Groups are encouraged to stay united in order to reap the benefits of division of labour. Business ethos principles practiced by Indian Companies

17. Challenges before Indian Managers External Factors Reforms Entry of multinational corporations Emergence of IT Emergence of Indian market and expansion of Indian companies at Global level

18. Challenges before Indian Managers Internal Factors Continuous learning Teaming and collaboration Global outlook Innovation Emphasis on productivity and efficiency Managing diverse set of stake holders

19. Challenges before Indian Managers Enhanced requirement of global outlook & mobility Integration with global economy Acquisition overseas by Indian companies FDI in India Need of work and life balance Enhanced focus on developing and harnessing network Engagement with leadership Connecting with other talent in the company

20. Management Audit Management audit tries to search the answer of how well the management has been operating the work of the organization? Is managerial style well suited for organizational operation? Management Audit focuses on Results, evaluating the effectiveness and suitability of controls by challenging underlying rules, procedures and methods

21. Management Audit It is a systematic examination of decisions and actions of the management to analyze the performance. It involves the review of managerial aspects like – organizational objective, policies, procedures, structure and control system in order to check the efficiency or performance of the management over the activities of the organization

22. Management Audit Management Audit is generally conducted by the employee of the organization or by the independent consultant and focused on the critical evaluation of management as a team rather than appraisal of individual. Unlike financial audit management audit mainly examine the non financial data

23. Objectives of Management Audit 1. To identify the level of achievement of the main objectives of the organisation. 2. To identify the defects or irregularities of management executives. 3. To ensure that the management is going to achieve the objectives. 4. To help the management to do efficient administration of the operations. 5. To help the management executives in the effective discharge of their responsibilities. 6. To suggest to the management the ways and means available to achieve the objectives. 7. To improve the profitability of the organisation. 8. To obtain or utilise the full efficiency of the management. 9. To help the management executives in the effective discharge of their duties.

24. Need for management audit Management audit periodically assess the performance of various managers and link incentives with such assessment.  Government and foreign collaborators is interested in getting management audit conducted to examine the efficiency of management 

25. Importance of management audit 1. Management Audit sets the policies and objectives right in view of changing environment, competitors’ strategies, changes in technology, consumers’ preferences etc. 2. It helps the management in improving its systems in view of developments or creations in management principles, techniques and approaches. 3. It helps the management in improving its performance in execution of policies and in utilising resources. 4. It sets the direction of objectives policies and business definition. 5. It provides scope to the business to interact openly with the environment and maxmises the benefit of the environmental opportunities and controlling the effects of environmental threats.

26. Advantages of management audit 1. It helps to identify the present and potential strength and weaknesses in management. With this information, major improvements or rectification of defects can be made. 2. It assists in establishing and reviewing the system of planning in an organisation. Then, it allocates responsibility for planning. 3. It helps to improve the communication and control system. Effective management information systems can be followed. Proper control system ensures no deviations from standards.

27. Advantages of management audit 4. It reviews the decision-making-process and the quality of decision. It helps the management to bring about more objectivity in decision-making. 5. It protects the interests of the organisation by continuous review of all aspects of organisation and improving the performance. 6. It helps the management to ensure free flow of communication between the responsibility centres.

28. 7. It assists the management in identifying the opportunities through innovations in the light of changes in the business world. 8. It helps the management to improve co-ordination and to evaluate the control techniques. 9. It assists the management in pinpointing the inhibiting factors which affect the profitability and the ways to remove them so that the profitability may improve. Advantages of management audit

29. 10. It suggests to the management to bring about better efficiency and overall improvement. 11. Human resource is crucial in every organisation. Management audit helps the management to improve performance appraisal system and to develop human resources. 12. It relieves the management of pressure. Thus, the management can devote more attention to important and special matters. Advantages of management audit