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Reconceptualizing Profit-Orientation in Management: A Karmic View on "Return on Investment" Calculations

Köllen, Thomas (2016) Reconceptualizing Profit-Orientation in Management: A Karmic View on "Return on Investment" Calculations. Philosophy of Management, 15 (1). pp. 7-20. ISSN 2052-9597

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Abstract

From the perspective of the present day, Puritan-inspired capitalism seems to have succeeded globally, including in India. Connected to this, short-term profit-orientation in management seems to constrain the scope of different management approaches in a tight ideological corset. This article discusses the possibility of replacing this Puritan doctrine with the crucial elements of Indian philosophy: Karma and samsara. In doing so, the possibility of revising the guiding principles in capitalist management becomes conceivable, namely the monetary focus of profit-orientation and its short-term orientation. This perspective allows a detachment of the concept of profit from the realm of money, as the seemingly only objectifiable measure of profit. Furthermore it allows a removal of the expectation that every "investment" has to directly "pay off". A karmic view offers management a possible facility for being more caring about the needs and fates of other stakeholders, as profit-orientation would no longer be attached as a factual constraint to merely accumulate money. (author's abstract)

Item Type: Article
Keywords: Hinduism / Karma / Samsara / Capitalism / Puritanism / Max Weber
Divisions: Departments > Management > Organisation u Verhalten in Organisation > Gender and Diversity in Organizations
Version of the Document: Published
Depositing User: ePub Administrator
Date Deposited: 03 Feb 2016 13:02
Last Modified: 03 Aug 2016 22:03
Related URLs:
FIDES Link: https://bach.wu.ac.at/d/research/results/76475/
URI: http://epub.wu.ac.at/id/eprint/4830

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