The Impact of Indian Value Systems on Ethical Business Practices: Lessons for Contemporary Value-Based Education
Keywords:
Indian Value Systems, Ethical Business Practices, Value-Based Education, Corporate Governance, Leadership, Corporate Social Responsibility, Educational FrameworksAbstract
This research examines the influence of Indian value systems on ethical business practices and explores the implications for contemporary value-based education. Indian values, rooted in ancient philosophies such as Dharma, Karma, and Ahimsa, offer profound insights into ethical decision-making and corporate governance. This study investigates how these values are integrated into modern business practices, shaping organizational ethics, leadership, and corporate social responsibility. By analysing case studies and best practices from companies that have successfully incorporated Indian values, the research identifies key principles that can be applied to enhance ethical standards in business. Additionally, the study provides recommendations for incorporating these values into value-based education programs, aiming to foster a new generation of business leaders who are not only skilled but also ethically grounded. The findings contribute to a deeper understanding of how traditional value systems can inform and enrich contemporary business practices and educational frameworks.
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References
Books
Agarwal, S. (2020). Indian values in contemporary business practices. Routledge.
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Journal Articles
Bhattacharya, A., & Sen, S. (2021). The influence of traditional values on ethical decision-making in business. Journal of Business Ethics, 170(1), 103-118. https://doi.org/10.1007/s10551-020-04512-8
Deshmukh, R., & Mehta, S. (2019). The role of Indian values in shaping ethical business environments. Asian Business & Management, 18(2), 217-234. https://doi.org/10.1057/s41291-018-0015-2
Gupta, S., & Verma, A. (2018). Value-based education and its influence on leadership skills. Educational Management Administration & Leadership, 46(4), 567-583. https://doi.org/10.1177/1741143217697471
Iyer, P., & Roy, S. (2020). Impact of value-based education on leadership skills. Educational Review, 72(3), 322-340. https://doi.org/10.1080/00131911.2019.1696043
Kumar, P., & Joshi, N. (2018). Indian ethical values and their impact on global business practices. International Journal of Business Studies, 39(4), 567-580. https://doi.org/10.1111/ijbs.12208
Reddy, V., & Patel, M. (2022). Leadership development through value-based education: An Indian approach. Journal of Leadership Education, 21(1), 55-70. https://doi.org/10.12806/V21/I1/R3
Conference Papers
Jain, S. (2022). Traditional Indian values in modern business ethics. In Proceedings of the Global Business Ethics Conference (pp. 75-82). International Business Ethics Association.
Sharma, A., & Kapoor, P. (2021). Integrating Indian values into international business strategies. In Proceedings of the International Conference on Global Business (pp. 112-120). World Business Forum.
Reports
Indian Business Ethics Council. (2023). Corporate ethics in India: A review of current practices. Indian Business Ethics Council. Retrieved from https://www.icbe.org/reports/2023
Indian Council for Business Ethics. (2023). Corporate governance practices in India. Government of India. Retrieved from https://www.mca.gov.in/CorporateGovernance2022
World Economic Forum. (2021). Ethics and values in global business. World Economic Forum. Retrieved from https://www.weforum.org/reports/ethics-values-global-business-2021
Websites
Patel, S. (2021). The significance of traditional values in modern leadership. Business Insider. Retrieved from https://www.businessinsider.com/indian-values-modern-leadership-2021
Sharma, K. (2021). The role of values in ethical leadership. Harvard Business Review. Retrieved from https://hbr.org/2021/05/role-of-values-in-ethical-leadership
Singh, R. (2022). How Indian values influence business ethics. Forbes. Retrieved from https://www.forbes.com/sites/ravisingh/2022/04/15/indian-values-business-ethics/
