INDIAN KNOWLEDGE SYSTEM: ANCIENT WISDOM IN CONTEMPORARY MANAGEMENT PRACTICES
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Abstract
This research paper aims at exploring how the ancient Indian wisdom can be used in managing organizations in the contemporary world. The study is based on the analysis of the traditional texts such as the Vedas, Upanishads, Arthashastra and Bhagavad Gita to determine the management principles that can still be applied in the current world. This paper presents a thorough analysis of the historical evolution, core philosophical components and practical applications of IKS in order to show that IKS offers valuable leadership, organizational behavior and strategic management frameworks. This paper presents case studies of Indian corporations and multinational companies that have been able to embrace IKS principles and the results are better stakeholder relations, increased employee involvement and stronger organizational effectiveness. The research also focuses on the meeting of Indian and Western management theories and the growing trend of hybrid models that incorporate the strengths of both systems. The results indicate that IKS offers a holistic management approach that incorporates the spiritual, ethical and practical aspects and provides real solutions to the current business challenges and encourages sustainable and humane management