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Journal of Indian Institute of Management Bangalore

IIM Bangalore offers Degree-Granting Programmes, a Diploma Programme, Certificate Programmes and Executive Education Programmes and specialised courses in areas such as entrepreneurship and public policy.

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About IIMB

The Indian Institute of Management Bangalore (IIMB) believes in building leaders through holistic, transformative and innovative education

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Spirituality and Ethics: Role in Business Management

Vol 25, No 2; Article by B Mahadevan; June 2013

In conversation with Suresh B Hundre, Chairman and Managing Director, Polyhydron Group of Industries

 

The economic crises in the recent past  and the crisis in leadership in the business world have led to a renewed need to examine the role of ethical and moral values in business, and a concomitant interest in spirituality. Beginning with the attributes of inspirational leadership drawn from the Bhagavad Gita, this article traces the definitions of spirituality and the approaches to the research in spirituality in management, including the present shift from a materialistic to a spiritual orientation.

While there has been a renewed interest in spirituality, there is a lack of clarity on how it could be practised in a business context. The author, B Mahadevan, seeks to throw light on these issues through his interview with Suresh B Hundre, Chairman and MD of Polyhydron Pvt. Ltd, Belgaum, India, a group with a turnover of Rs 1450 million, and which is known for the competitive pricing of its products and its ethical management.

Defining spirituality as the purification of one's actions, speech, and thought, S Hundre explains how he has operationalised his understanding of spirituality through his business and personal practices. The cornerstone of an organisation's efficiency, he believes, is a high level of trust among trading partners and employees, discipline, transparency and complete honesty in operations. Polyhydron is guided by core beliefs which include "Business and ethics are a perfect match", the concept of the "Business Ashrama", and a transparent wealth distribution ratio.  Leading by personal example, S Hundre espouses "the joyful life", which involves eschewing of purely material wants and inculcating the spirit of sacrifice,  and sees himself as a trustee rather than an owner of the business. He believes that exposing students to values such as simplicity and transparency, to paths other than the competitive route,  and having resource persons who enshrine those values is the way forward in the imparting of spiritual values through educational institutions.