From the perspective of the present day, Puritan-inspired capitalism seems to have succeeded globally, including in India. Connected to this, short-term profit-orientation in
management seems to constrain the scope of different management approaches in a tight ideological corset. This article discusses the possibility of replacing this Puritan doctrine with the crucial elements of Indian philosophy: Karma and samsara. In doing so, the possibility of
revising the guiding principles in capitalist management becomes conceivable, namely the monetary focus of profit-orientation and its short-term orientation. This perspective allows a detachment of the concept of profit from the realm of money, as the seemingly only
objectifiable measure of profit. Furthermore it allows a removal of the expectation that every "investment" has to directly "pay off". A karmic view offers management a possible facility for being more caring about the needs and fates of other stakeholders, as profit-orientation
would no longer be attached as a factual constraint to merely accumulate money. (author's abstract)
| Identifer | oai:union.ndltd.org:VIENNA/oai:epub.wu-wien.ac.at:4830 |
| Date | 27 January 2016 |
| Creators | Köllen, Thomas |
| Publisher | Springer |
| Source Sets | Wirtschaftsuniversität Wien |
| Language | English |
| Detected Language | English |
| Type | Article, PeerReviewed |
| Format | application/pdf |
| Rights | Creative Commons: Attribution 4.0 International (CC BY 4.0) |
| Relation | http://link.springer.com/article/10.1007/s40926-016-0027-9, http://www.springer.com, http://epub.wu.ac.at/4830/ |
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