India-Centric Model of Management: Towards a New frontier of Knowledge Creation in Management with reference to Life Insurance Sector

Abstract

The application of management principles provided in the ancient knowledge as unveiled in the revered scriptures such as the 'Gita,' 'Upanishads,' 'Bible,' and 'Quran' is referred to as Indian ethos for management. Formally, it refers to the knowledge that originates its solutions from the vast and diverse system of Indian ethics. Since, management is a behavioural science that requisites to be culture-specific, Ethos hailing from India for Management is based on India's cultural foundation, and as a nation which has  culture rooted in religion, it drives its lessons from the land's numerous religions, be it Hinduism,Jainism, Buddhism, or alike. The timeless Indian ethos can assist Modern Management concepts in transforming into a more viable frame-work of human resource management practises. The Vedas and Puranas, along together with two great epics, the Ramayana and the Mahabharata, provide the firm and everlasting foundation of India's age-old and beautiful architecture of culture and civilisation. The enduring appeal of these treatises continues to have an impact.to a large extent, the cultural life and behavioural patterns of crores of Indians. The present study aims to exhibit that Indian ethos, ever since the inception, has indispensible role in  human resource practices of modern management. Further, the study envisions recognising deficiencies in the current framework of aforementioned and how Indian ethos may address those gaps with the objective to create a more sustainable model for the same.