Hotline: 1800 102 2007
Hotline: 1800 102 2007
Search Business Opportunities
business management 2018-09-24

How Entrepreneurs Can Incorporate Buddha’s Lessons Into Their Businesses

How Entrepreneurs can bring dharma into the art of deal

By Content Writer
How Entrepreneurs Can Incorporate Buddha’s Lessons Into Their Businesses

People look for new business models and strategies for business management. Millennials are adopting Buddha’s teachings in their businesses to get insight into new and more fulfilling ways of achieving success in business. Buddhist management is effective in many key areas of business such as leadership, management, customer/client relationship, etc.

Here are few lessons from Buddha’s teachings which you can incorporate in your business to achieve success in personal and professional life.

Organisational Management

The essence of business is good management. Buddha’s teaching supports the achievement of business planning, effective human resource management and ensuring the high level of satisfaction to clients. This helps in achieving organisational goals and helps in business management.

Vipassana, an ancient Buddhist meditation practice, is being used by many corporate houses across the world to calm their minds and to develop emotional intelligence in order to have a successful professional and personal life. 

Buddhism also teaches businesses to foster an environment where there is no fear of authority and the staffs feel comfortable in discussing any serious issues that may arise.

Conflict Management

Buddhism encourages peaceful coexistence and harmony. Conflict management forms an important part of Business management.

In accordance with Buddha’s Four Noble Truths, any issue or conflict is associated with some reasons. Reasons for conflict must be completely assessed and understood to find a proper solution. Once you get to know about the root cause, the best solution and methodology can be devised and implemented in order to resolve the conflicts without hurting those concerned.

Businesses can use this concept of conflict management as it emphasises on group harmony in organisations for productive outcomes. It sees miscommunication as the root cause of conflict and finds that the best way to avoid conflict is by encouraging communication among the people. 

This will help in employee satisfaction which ultimately contributes to the higher rate of staff retention. 

Financial Management

Buddha’s principles emphasise earning only by ethical means. Although Buddha’s teachings have lead monks to follow the path to enlightenment by living a non-materialistic life, he has encouraged people to work for the well-being of their families first and only then to engage in charity.

The script Singalovada Sutta talks of managing finance and business in a proper and ethical manner. It also talks about that one’s income should be divided into four parts, where one part should be consumed, two parts reinvested and the remainder saved for the future. Thus, guiding the entrepreneurs in financial management.

CSR

The Buddha said, “To light, a lamp for another will brighten your own way.” Buddha’s teaching encourages charity and helping fellow human beings. Buddhist scripts have highlighted the sustainable practice in terms of financial contribution for social causes.

Businesses follow this strategy through CSR to benefit the society which ultimately ensures long-term sustainability in business practices. 

Comment
image
image
mobile
address
star franchise india
Rahul lokhande : 09, Oct 2018 at 09:08 AM
Very well said mam only vipassana can create humanity in business. Sadhu3 for ur precious work
Related opportunities
  • Hospitals
    About Us: Within a short but dynamic span of 8 years,..
    Locations looking for expansion Haryana
    Establishment year 2016
    Franchising Launch Date 2019
    Investment size Rs. 30lac - 50lac
    Space required 1600
    Franchise Outlets -NA-
    Franchise Type Unit
    Headquater Faridabad Haryana
  • About Us: "SHISHURANJAN" is one of the oldest Toy sellers of all..
    Locations looking for expansion Rajasthan
    Establishment year 1975
    Franchising Launch Date 2018
    Investment size Rs. 10lac - 20lac
    Space required 300
    Franchise Outlets -NA-
    Franchise Type Unit, Multiunit
    Headquater Jaipur Rajasthan
  • About Us: Mad About Dogs (MAD), an ambitious venture of Mad..
    Locations looking for expansion Delhi
    Establishment year 2006
    Franchising Launch Date 2018
    Investment size Rs. 10lac - 20lac
    Space required 400
    Franchise Outlets -NA-
    Franchise Type Unit
    Headquater New delhi Delhi
  • Automobile Accessories
    EV Motors India Private Limited (“EVM”) is a start-up company..
    Locations looking for expansion Haryana
    Establishment year 2016
    Franchising Launch Date 2020
    Investment size Rs. 5lac - 10lac
    Space required 800
    Franchise Outlets -NA-
    Franchise Type Unit
    Headquater Gurgaon Haryana
Insta-Subscribe to
The Franchising World
Magazine
tfw-80x109
For hassle free instant subscription, just give your number and email id and our customer care agent will get in touch with you
email
mobile
OR Click here to Subscribe Online
Daily Updates
Submit your email address to receive the latest updates on news & host of opportunities
More Stories

Free Advice - Ask Our Experts

pincode
ads ads ads ads