Quotation Köllen, Thomas. 2016. Reconceptualizing Profit-Orientation in Management: A Karmic View on 'Return on Investment' Calculations. Philosophy of Management 15 (1): S. 7-20.


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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.

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Publication's profile

Status of publication Published
Affiliation WU
Type of publication Journal article
Journal Philosophy of Management
Language English
Title Reconceptualizing Profit-Orientation in Management: A Karmic View on 'Return on Investment' Calculations
Volume 15
Number 1
Year 2016
Page from 7
Page to 20
Reviewed? Y
URL http://link.springer.com/content/pdf/10.1007%2Fs40926-016-0027-9.pdf
DOI http://dx.doi.org/10.1007/s40926-016-0027-9

Associations

People
Köllen, Thomas (Former researcher)
Organization
Institute for Gender and Diversity in Organizations IN (Details)
Research areas (ÖSTAT Classification 'Statistik Austria')
5352 Human resource management, personnel management (Details)
5361 Financial management (Details)
5368 Sustainable development, sustainable economics (Details)
5411 Social philosophy (Details)
5415 Economic sociology (Details)
5434 Sociology of religion (Details)
6109 Philosophical sociology (Details)
6115 Philosophy of religion (Details)
6123 Business ethics (Details)
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