HINDUISM BUSINESS AND
ECONOMY
Roxana Darjan
The Agenda
Introduction: India and Hinduism The Four Goals of Life The Caste System Hinduism and Business Joint Family Ventures The effects of Hinduism on India’s
business DO’s and DON’Ts Comparison Across Religions Mc Donald’s and Hindu culture
„ A man in this world without learning is as a beast of the field.”
Why Learning?
It’s a jungle out there…..
Competition is strong, and the way we present ourselves is under closer examination more than ever before.
1 Billion people call India home. It is primarily
rural, with 80% of people living in more than
550,000 villages.
Hindus comprise almost 85 % of the population
of India.
Unlike many religions which are traced to a
particular founder, Hinduism grew out of
Indian mythology.
Hinduism is the religion of experience. It is not
based on dogmas and creeds to be accepted
with blind faith, but is based on self-
realization. For a Hindu, God is in daily life.
India and Hinduism
Concerning the human activity,Hinduism identifies 4 legitimate goals: Dharma ( virtue )
Artha ( success )
Kama ( pleasure )
Moksa ( release )
The Four Goals of Life
The Caste System
Hinduism - polytheistic religion that believes in the transmigration of the soul.
You do good deeds all your life => you will be rewarded by socially moving up in your next life = Caste System
Caste System - defines people’s roles, status and social order
Hindu ideology of rank : humans of the purest caste are not the most powerful.
Western ideologies of aristocracy : the monarch is both the most powerful of humans and the closest to God and therefore rules by divine right.
U.S.A. : “Born to Run” - metaphorical. Hindu area : people are to be born to lead, others born
to craft gold, others born to fishsome - non-metaphorically
If this notion is understood, the international manager can understand Hindu ideas that restrict individual mobility but specify duties appropriate to castes.
Business relationships - based on personal
relationships.
With : 14 major languages & 300 minor ones
- English has become a unifying force in
India. Generally, you will be able to conduct
business in English.
Dress code - business casual. For women -
pant-suits or long skirts, which cover the
knees.
Date is written differently. First, day is
written, then month, then year (December
3, 2011 is written 3.12.11).
Hinduism and Business
Indians- want to know everything at the first
meeting -- don't be offended. It is to find out
personal preferences.
India - a medium tolerance for change and
risk.
Failure - causes a long-term loss of
confidence by the individual as well as by
others.
Manager - makes decisions
Indians - relaxed attitude towards time.
"time is money" - alien to most Indians.
Hinduism and Business
A joint family ethos promotes :
pooling of resources
collaboration of talent
training and induction of younger family members.
Business schools - studying Hindu' business culture
- Hindu family ventures as global leaders.
Advantages : Disadvantages : Ease of formation Confined to Joint Hindu families Continuity of operations Relatively limited capital Limited managerial talents Unlimited liability of the Karta
Joint Family Ventures
The effects of Hinduism on India’s business
Slows growth
Dampens Ambition
Promotes Specialization
Inefficient Implementation
High Power Distance
DO wait for a female business colleague to initiate the greeting. Indian men do not generally shake hands with women out of respect.
DO to keep in mind that each person has a very distinct role within the organization, and maintaining that role helps to keep order.
DO propose business lunches, because they are preferred to dinners.
DON’T take large or expensive gifts as this may cause embarrassment. If you do take a gift make sure you present the gift with both hands.
DON’T refuse any food or drink offered to you during business meetings as this may cause offence. In addition, it is useful to bear in mind that traditionally, Indians are vegetarians and do not drink alcohol.
DON’T appear over legalistic in negotiations; in general, Indians do not trust the legal system and someone’s word is sufficient to reach an agreement.
Do’s and Don’ts
Comparison Across Religions
Hinduism Buddhism Confucianism
Personal Satisfaction
Have what you want, but good sense and not injure
Selfishness is illness, strive for cure
Focus on important collective well being, not self well-
Profit taking Chance to give to society
Make money to do more for others
Accept costs to maintain moral values
Business as a career
A path to being, knowing, joy
Wisdom, morality Integrity and trust
Authority and power based on trust
Ethical leadership
Learn, act, think Trust and integrity
Wisdom, reasoning, morality Integrity and trust
Authority and power based on trust
Business in society
Source of being, knowing and joy
Life is mandala , a circle mandala,
Jen care for, respect, love others –
Mc Donald’s and Hindu culture 150 - 200 million middle class population attracted
McDonald's.
India's Hindu culture - do not eat the meat of the scared cow.
McDonald's - created Indian version of burgers (mutton and chicken) .
All foods - vegetarian and non-vegetarian, due to many Hindus are vegetarians.
McDonald's - "fraudulently concealing the existence of beef in MD’s French fries.
McDonald's settled the suit for $10 million and issued an apology.
Hindu nationalists - vandalized McDonald's restaurant ($45,000 of damage) , called on India's prime minister to close McDonald's 27 stores in the country.
धन्यवा�द !
Thank You For Your Attention !
Top Related