Page 15 - NITI - Navigating Indian Traditions in Industry

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Foundations of Management

Insights from Vedic Wisdom
Dr. Shweta Jain and Dr. Anita Kshetri

Learning Outcomes:
• Understand Dharma (righteousness) and Karma (duty) as ethical foundations.
• Apply Vedic principles to modern leadership and decision-making.
• Link business ethics with ethical decision-making frameworks.
• Establish the role of integrity in shaping organizational practices.

Introduction:
The Indian Knowledge System (IKS) is a vast and multifaceted body of knowledge
that has developed over thousands of years. It covers a wide range of disciplines,
including philosophy, science, mathematics, medicine, arts, and spirituality. Unlike
Western knowledge systems, which often compartmentalize fields, IKS is holistic,
integrating various disciplines into a unified whole. This reflects the Indian worldview,
where all aspects of life are seen as interconnected.

Central to IKS is the belief that knowledge serves not just material progress but
also the understanding of deeper existential truths. Texts like the Vedas, Upanishads,
Puranas, and philosophical treatises explore both the practical aspects of life—such as
governance, economics, and medicine—
and profound questions of existence,
ethics, and reality.

IKS emphasizes experiential knowledge,
considering it incomplete until it is lived and
internalized. Practices like meditation, yoga,
and rituals are essential for embodying
the truths of these texts and philosophies.
The scope of IKS is broad, covering both
the natural world through disciplines like
Ayurveda, Jyotisha, and Vaastu Shastra,
and the inner world through philosophical
systems like Vedanta, Samkhya, Nyaya,
and Mimamsa. This dual focus on the

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