The spirited and spry world of the corporates brings a melange of functions characterised by a clear vision, fixed goals, result-oriented approach, team work, duty-bound accountability, keen diligence and dauntless delivery. The life and culture at these zappy zones of action stimulates one’s potential and manifests it with patency. Every day demands a different ‘you’ and helps one create life for oneself.
With the advent of globalisation and industrialisation profitability became the focus. However, blind profits were no good for the society, which created a big drift in the economies, and the poor became poorer, and the rich became richer. The gap widened. Today, consumerism has taken a new role. It is about reaching out to the bottom-of-the-pyramid consumers, which happens to be the larger section of the society. But, for example, if that strata of society is not capable of earning, because they are not educated, then who is going to be affected? So, it is a very short-sighted approach for any organisation to feel that their growth and long-term sustainability can be managed only through profitability. Hence, the answer lies in the existence of a healthy society and an effective organisation, which can transform itself from a financially driven business into a ‘purpose driven’ business.
“It is continually becoming more evident that values-based leadership, synergistic generation of social and economic value, and strategic cross-sector alliances are key ingredients to achieving sustainably successful business” (Austin and Reficco 2009). Many Corporate Managements have carefully drafted employee friendly work-life balance policies, to ensure their employees have a conducive work environment, with enriching social relationships and team outings. MNCs have boosted countries’ economy, employment, quality of work force, and enhancement of skills and expertise in a big way.
However, almost everything worthwhile carries with it some risk, and what is the risk here? Sometimes, in the pursuit of profits and dividends, businesses and corporates jeopardises the right for the convenient. Warren Buffet said, “It takes 20 years to build a reputation and five minutes to ruin it. If you think about that, you’ll do things differently.” Hence fulfilling the demands of the business in concurrence with probity, for the welfare of all, becomes highly important.
Hence all corporates need to have their ‘personal brand’ determined by ethics alongside their company brand, determined by products and services. Ultimately, let us remember that ‘being good is good business.’ Commerce in comradeship with community is the best and this Course “Dharmic Management” shall walk through the nuances to work well with proceeds, as well as principles.
Let’s gear up to DO IT BIG, DO IT WITH STYLE and DO IT RIGHT!
How to Proceed
We recommend that you maintain a journal in which you can record your learnings for later reflection and contemplation.At the end of each online chapter, you will find five multiple choice questions for you to answer. Only if you answer all the five questions correctly will you be allowed to proceed to the next chapter.