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Philosophy and Management: The Relevance of Vedanta in Management
Abstract
This chapter explores the Vedanta, an ancient Indian religious philosophy; and its relevance to management. Chinmayananda (2003) asserted that from time to time ancient philosophies like Vedanta needs intelligent re-interpretation to apply effectively in the context of modern times. Vedanta recommends a management approach, which focuses on exploring the inner world of the self. It begins with the manager's awareness and development of the self, as the greatness in any field is never achieved without tremendous self-realization and self-discipline (Avinashilingam, 1975). This chapter is based on a qualitative research methodology called hermeneutics, which involves the interpretation of ancient or classical literature and the content analysis of selected verses from the Vedanta (Vedic literatures) especially the Bhagavad-Gita. This chapter provides a framework to study the Indian management from a religious, philosophical and cultural perspective. This will be relevant to Indian managers and foreign managers managing in Indian context.
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