"Karma Capitalism" & The Enlightened Business
The recent BusinessWeek article (October 30 2007, pp 84-92) titled Karma Capitalism asks "Has the Bhagavad Gita replaced The Art of War as the hip new ancient Eastern management?"
My Indian colleagues and I don't see it this way. This isn't a fad, or a business mantra.
What we are seeing is a new force in the history of capitalism. A capitalism which acknowledges its debt to society at large. Whatever we choose to call it, this enlightened capitalism is not going to go away. It is simply the only sustainable way forward.
In the article, I'm quoted as saying: "Karma is a principle of action. Innovation is about creating change, not reacting to change." What they didn't quote me on was dharma - the privileges, duties, conduct and obligations of the individual as a member of the community. If individuals have a responsibility to society, why shouldn't business?
Like my grandfather before me, we believe in the good in all people and have a genuine respect for the individual. Like him, we are helping leaders set their sights higher than they previously envisioned.
Comments
Dear Vijay,
While I agree with you on the responsibility one has to society, I would suggest differentiating business obligations with personal responsibility. As an Indian-American, I too learned about responsibility through our family's Dairy Queen store, which I helped manage while I was growing up. Believe it or not, I learned more about responsibility to society in that tiny ice cream shop than I did in my MBA program or my 14 yrs in Corporate America.
And it isn't easy. It is often challenging and frustrating trying to balance both the increasingly competitive nature of the business and responsibility one has to society.
What I believe we need are business managers who have the self-awareness, knowledge and fortitude to make the right choices for their organization through the lens of their personal perspective. At the end of the day, it is really about balance.
Bob Miglani
Author, TREAT YOUR CUSTOMERS: Thirty Lessons on Service and Sales That I Learned at My Family's Dairy Queen Store
Posted by: Bob Miglani | November 28, 2006 09:26 AM