BUSINESS ETHICS

CORPORATE GOVERNANCE
 Relevant values as practiced by corporate / business leaders and their role in empire building- Role
and composition of the board, remuneration of directors and senior executives -Rights and
responsibilities of shareholders- Ownership of independent directors

• Studying of Business dilemma started in India from past 50 years but knowledge of business existed even before
British rule started in India. They have existed in the form of mythological stories and folk tales which have been
passed on from generation to generation. However we have been ignorant towards the hidden knowledge and have
rarely taken it seriously to apply in business situations. In this article let us examine the lessons of management and
leadership camouflaged in the epic poem of Mahabharata.

• Mahabharata is a tale of dispute among the Kaurava and Pandava princes. It closely observes the behaviour of human
beings revolving around love, protection, ambition and competitiveness and makes it relevant to current business
scenario.
 The topic is divided in four different parts and compared them with the mythological tale of Mahabharata
composed by Lord Ganesha and recited in poem verse formed by Rishi Ved Vyas.

Relevant values as Rights and

Remuneration of responsibilities of
practiced by corporate / Role and composition of
directors and senior shareholders- Ownership
business leaders and their the board
executives of independent directors
role in empire building
• Mahabharata is a gift of knowledge to the world. It is not a mere tale of kings, queens and war, but it is a
story of struggle for power, establishing empire and making a mark in the in the minds of all those who come
across it.

• Business in the current world is more than a battlefield. Gone are the days when business was defined by the
profit and loss it made. Now, business is an amalgamation of tactics, finance, strategies and having a
competitive advantage. And hence business has several lessons to be picked from the epic story of
Mahabharata.
 Relating and understanding business point of view from Mahabharata with the help of five pillars as an
example are as follows:
 NEGLECT NONE
 SEEING
TEAM
NECESSITY ANOF
WORK OPPORTUNITY
CONCLUSION DIVERSIFICATION
 LEADERSHIP
• Nakula and Sahadeva were the step brothers of Yudhishthira, Bhīma and Arjun were never ill-treated or neglected.
•• Team
When work of Pandavas is one more thing notthat
loseneeds to be highly appreciated. it asThe common goal offocusedestablishing the
TheyPandavas
were loved wereand
sentcared
on exile,
by they
theirdidstep their heart.
brothers as oneInstead,
amongthey sawNakula
them. an opportunity
was knownand on further
for his knowledge in
•• “Do
rule not
of
developing put
law all
in
their your
the eggs
Indian
competence in
in the
their same
sub-continent
area ofbasket”
was the
interest. is repeatedly
one that
Yudhishthira, kepttold in
them
Bhīma, management
working
Arjun, Nakula classes.
diligently.
and This
Everyone
Sahadeva is what
worked on is
the
hard exactly
side
in of
spite
• The leaderand
Mahabharata
medicine in Sahadeva
theiswhole story
acommitted
story
was ofoftochallenges
known Mahabharata is undoubtedly
which
for his expertise astrology.itLord
in makes KrishnaNakula
comparable
Even though who guided
toultimate
business Pandavas
and Sahadevasituations.all through
played aEvery
minute
Pandavas
done
of by
challengingwasthe
all highly
brothers
conditions and of Pandava
hardships. their goal.
family.
YudhishthiraTheyAllwere
of
worked selfless
theonfive and bound
brothers
building to
weretheirdiverse
his expertise in the dice aim
and offrom
were
game dharma.
trained
severalEven
in in
all
rishis
their
role
chapter tough
in the
of times
battle and
field,
Mahabharata kept
they their
did spirits
lot
has Bhīma of
aand high
work
lesson by
behind
to reminding
the them
screen. of
They their
treated dutyall and their
injured objective
soldiers and of life.
healed Like
their
the
(wisetimes
men)of
different difficulty
and
arts became
and they motivated
undefeatable.
knowledge. stood by offer
eachLord
worshipped which
other. couldandhelp
Hanuman business
became an expertexecutives to plan
in mace fighting. their
Similarly
Pandavas,
wounds.
strategy
Arjun
Theevery
and
developed
organisation
Pandavas
make even
several askillsets
meaningfulneedshad
though
apart from
aimpact.
leader
less man with
archery.Hence dexterity
power being
He learnt
comparable
thandance
Kauravas,
Indians lettous
they Krishna
were
from Chitrasena,
able
start toofsustain
Mahabharata.
looking
at the abode at
themselves Making
Mahabharata
of his
because
father Indra;
the
Nakulaorganisation
of the backbreaking
and Sahadeva achieve
work its
donemission
too developed by theiris mastery
Nakula in and
the hands
Sahadeva.of a leader.
over medicine. ThusOrganising,
a stronger teamstrategizing,
was createdandbymanaging
perseverance people
and
and other mythological stories with business perspective and make maximum out of this five pillars.
efficiently is what is called for from a leader.
determination.
• Product diversification of the companies too is of great significance. If one product fails or is strongly hit by
• Thus, all the organisation need to build a good team spirit among its employees and care for their employees. The
• changes in its the
If we consider respective market,
five Pandava then of
brothers other shall takeascare
Mahabharata of thedepartments
different company’sofsurvival. In case then
an organisation, the company
we can see
success of HCL technologies by adopting the policy of Employees first and Customers second stands as proof for the
survives
•• If that
Inwe the on
theconsider
modernsingle
companies product,
thedays,
exileneed
period
the to then
give
of ofthe
Pandavasrisk
equal as involved
importance
recession is
to extremely
for all
thetheir high. Example:
departments.
business world, 1989
thenItwemay
can see—
be RJ
Finance,
that Reynolds
toHR,
those smokeless
Marketing
companies whichor
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employees. theAsuccess of companies
welldefined vision andlike Apple,
mission Infosys
with whichand Tata
employees goes
connect their respective
is also equally
cigarettes.
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stood strongand
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important TheyandDevelopment
are
for the
continued to department.
the ones
success who
of the made theNone
deliver the same
organisation.
of them
efficiency
company is
and
tread tothe
be taken
improved lightly
path ofon theirand
indue importance
successdrawbacks times.is to beonce
grew stronger
difficult given
thetodark
each
clouds of recession
department hadhave
as they passed. Intel,
their ownAmazon
role to and
playDominos are the
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organization and growing in the market.