Gita, the latest buzz in US biz circuit ibnlive.com | October 25, 2006
http://www.ibnlive.com/news/gita-the-latest-buzz-in-us-biz-circuit/24665-7.html Big business in the United States is embracing Indian philosophy in a significant but sometimes quirky new trend. A recent whirlwind East Coast tour by Swami Parthasarathy, one of India's best-selling authors on Vedanta, was just one small manifestation of the new trend, according to BusinessWeek magazine. Suddenly, phrases from ancient Hindu texts such as the Bhagavad Gita are popping up in management tomes and on websites of consultants, while top business schools have introduced "self-mastery" classes that use Indian methods to help managers boost their leadership skills and find inner peace in lives dominated by work. More important, India-born strategists also are helping transform corporations. Academics and consultants such as C K Prahalad, Ram Charan, and Vijay Govindrajan are among the world's hottest business gurus, Pete Engardio and Jena McGregor write in the Oct 30 issue of the publication. About 10 per cent of professors at places such as Harvard Business School, Northwestern's Kellogg School of Business and the University of Michigan's Ross School of Business are of Indian descent - far higher than other ethnic groups. "When senior executives come to Kellogg, Wharton, Harvard, or [Dartmouth's] Tuck, they are exposed to Indian values that are reflected in the way we think and articulate," the weekly quotes Dipak C Jain, dean of the Kellogg School as saying. Indian theorists, of course, have a wide range of backgrounds and philosophies. But many of the most influential acknowledge that common themes pervade their work. One is the conviction that executives should be motivated by a broader purpose than money. Another is the belief that companies should take a more holistic approach to business - one that takes into account the needs of shareholders, employees, customers, society and the environment. Some can even foresee the development of a management theory that replaces the shareholder-driven agenda with a more stakeholder-focused approach. "The best way to describe it is inclusive capitalism," the magazine says, citing Prahalad, a consultant and University of Michigan professor who ranked third in a recent Times of London poll about the world's most influential business thinkers. "It's the idea that corporations can simultaneously create value and social justice." You might also call it Karma Capitalism. For both organisations and individuals, it's a gentler, more empathetic ethos that resonates in the post-tech-bubble, post-Enron zeitgeist. These days, concepts such as "emotional intelligence" and "servant leadership" are in vogue. Where once corporate philanthropy was an obligation, these days it's fast becoming viewed as a competitive advantage for attracting and retaining top talent. Where the rallying cry in the 1980s and 1990s may have been "greed is good", today it's becoming "green is good". And while it used to be hip in management circles to quote from the sixth century BC Chinese classic The Art of War, the trendy ancient Eastern text today is the more introspective Bhagavad Gita, the Businessweek said. Earlier this year, a manager at Sprint Nextel Corp. penned the inevitable how-to guide: the key message of "Bhagavad Gita on Effective Leadership" is that enlightened leaders should master any impulses or emotions that cloud sound judgment. Good leaders are selfless, take initiative, and focus on their duty rather than obsessing over outcomes or financial gain, the weekly said. "The key point," it quotes Ram Charan, a coach to CEOs such as General Electric Co.'s Jeffrey R Immelt, as saying "is to put purpose before self. This is absolutely applicable to corporate leadership today". ********************************************************************* Corporate America swears by the Gita Chidanand Rajghatta | October 25, 2006 http://timesofindia.indiatimes.com/articleshow/132248.cms Corporate America is embracing Indian philosophy in a big way. Suddenly, says Businessweek magazine in its latest issue, phrases from ancient Hindu texts such as the Bhagavad Gita are popping up in management tomes and on Web sites of consultants. Top business schools have introduced "self-mastery" classes that use Indian methods to help managers boost their leadership skills and find inner peace in lives dominated by work. BW calls its "Karma Capitalism" -- a gentler, more empathetic ethos that resonates in the post-tech-bubble, post-Enron zeitgeist. And where it used to be hip in management circles to quote from the sixth century B.C. Chinese classic The Art of War, it says, the trendy ancient Eastern text today is the more introspective Bhagavad Gita . In an episode recounted by BW , young executives from corporate American gather in a suburban New Jersey home to hear Swami Parthasarathy, one of India's best-selling authors on Vedanta, speak about secrets to business success "concentration, consistency, and cooperation." The 80-year old Indian guru is on a whistlestop tour of the US, counselling executives on the central message of the Gita to put purpose before self. He has addressed meetings in b-schools such as Wharton and in financial schools such as Lehmann Brothers, advising fund managers and venture capitalists about balancing the compulsion to amass wealth with the desire for inner happiness. In one incident, a young investment banker seeks advice on dealing with nasty colleagues. Banish them from your mind, he is told. "You are the architect of your misfortune. You are the architect of your fortune." BW attributes the sudden interest in Indian philosophy to the sizeable presence of Indian teachers in American B-Schools. About 10% of teachers at places such as Harvard Business School, Northwestern's Kellogg School of Business, and the University of Michigan's Ross School of Business are of Indian descent -- a far higher percentage than other ethnic groups. Indians also head some half dozen business schools in the US, including Kellogg. More important, says BW , Indian-born strategists also are helping transform corporations. Academics and consultants such as C. K. Prahlad, Ram Charan, and Vijay Govindrajan are among the world's hottest business gurus, advising some of the top US companies. Indian theorists, says the journal, have a wide range of backgrounds and philosophies. But many of the most influential acknowledge that common themes pervade their work. One is the conviction that executives should be motivated by a broader purpose than money. "The best way to describe it is inclusive capitalism," C.K.Prahlad, who ranked third in a recent Times of London poll about the world's most influential business thinkers told the magazine. "It's the idea that corporations can simultaneously create value and social justice." "The key point," adds Ram Charan, a coach to CEOs such as General Electric Co.'s (GE ) Jeffrey R. Immelt, "is to put purpose before self. This is absolutely applicable to corporate leadership today." BW says Indian business teachers such as Michigans Prahlad, Harvards Rakesh Khurana, Tucks Govindrajan, and Kelloggs Jain, are linking some of their theories or deriving them Hindu philosophy. "Marketing has tended to use the language of conquest," Kelloggs Mohanbir Sawhney, a Sikh who discusses the relevance of the Bhagavad Gita to business on his Web site, tells BW. Now the focus is on using customer input to dream up new products, Sawhney says, which "requires a symbiotic relationship with those around us." See also - the main article Karma Capitalism -- http://www.businessweek.com/magazine/content/06_44/b4007091.htm?chan=careers_career+center_top+story --------------------------------- Want to be your own boss? Learn how on Yahoo! Small Business. -- This is ZESTGlobal. Post articles on international affairs to [email protected] If you got this mail as a forward, subscribe to ZESTGlobal by sending a blank mail to [EMAIL PROTECTED] OR, if you have a Yahoo! ID, by visiting http://groups.yahoo.com/group/ZESTGlobal/join/ Yahoo! Groups Links <*> To visit your group on the web, go to: http://groups.yahoo.com/group/ZESTGlobal/ <*> Your email settings: Individual Email | Traditional <*> To change settings online go to: http://groups.yahoo.com/group/ZESTGlobal/join (Yahoo! ID required) <*> To change settings via email: mailto:[EMAIL PROTECTED] mailto:[EMAIL PROTECTED] <*> To unsubscribe from this group, send an email to: [EMAIL PROTECTED] <*> Your use of Yahoo! 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