Impart Spiritual Strength to Economics and Management

In the pursuit of economic progress and higher standards of living nations often lose sight of the quality of life of citizens. There are various quality of life indices like the state of education, health, housing infrastructure etc. However, wide inequalities in income and privileges exist resulting in strife and squalor. Though the human being is recognised as an important resource, human excellence is rarely achieved except in fits and starts.

The lack of a concerted institutional approach by organizations to attain human excellence, focusing on the individual, brings about a cumulative impact pulling down the quality of life, though other quality of life indices show a positive trend. Pockets of poverty alongside oases of wealth still exist. It is here spirituality comes to our rescue imparting strength to economics and management with lasting beneficial results.

Absence of spiritual content manifests through lack of positive value systems in economic planning, business and management. The adverse effect of this omission is reflected in massive corruption, criminality, frauds, embezzlement, unhealthy personnel policies, cheating, leakages and wastages in the economy. There are also unethical practices like profiteering based on greed and dilution of quality of products and services. Often even the most competent professional who has potential to contribute to enhance the quality of life succumbs to temptations. This damages the reputation of the product and the organization he serves. Why does this happen?

Management which welcomes knowledge from all disciplines rarely seeks and applies knowledge from spiritual sources. Many consider such knowledge as inconclusive and non verifiable in terms of results. This is a fallacy. There has been no determined effort to give a fair trial to the spiritual content of the knowledge and its application to economics and management.