Vous êtes sur la page 1sur 16

International Journal of Social Economics

The evolution of business ethics in India


Ron Berger Ram Herstein
Article information:
Downloaded by Universitas Islam Negeri Maulana Malik Ibrahim, UIN Maliki At 20:24 22 March 2017 (PT)

To cite this document:


Ron Berger Ram Herstein , (2014)," The evolution of business ethics in India ", International Journal of
Social Economics, Vol. 41 Iss 11 pp. 1073 - 1086
Permanent link to this document:
http://dx.doi.org/10.1108/IJSE-05-2013-0129
Downloaded on: 22 March 2017, At: 20:24 (PT)
References: this document contains references to 71 other documents.
To copy this document: permissions@emeraldinsight.com
The fulltext of this document has been downloaded 2823 times since 2014*
Users who downloaded this article also downloaded:
(2007),"The business ethics of management theory", Journal of Management History, Vol. 13 Iss 1 pp.
43-54 http://dx.doi.org/10.1108/17511340710715160
(2014),"The evolution of Chinese business ethics", Management Research Review, Vol. 37 Iss 9 pp.
778-790 http://dx.doi.org/10.1108/MRR-06-2013-0153

Access to this document was granted through an Emerald subscription provided by emerald-srm:609409 []
For Authors
If you would like to write for this, or any other Emerald publication, then please use our Emerald for
Authors service information about how to choose which publication to write for and submission guidelines
are available for all. Please visit www.emeraldinsight.com/authors for more information.
About Emerald www.emeraldinsight.com
Emerald is a global publisher linking research and practice to the benefit of society. The company
manages a portfolio of more than 290 journals and over 2,350 books and book series volumes, as well as
providing an extensive range of online products and additional customer resources and services.
Emerald is both COUNTER 4 and TRANSFER compliant. The organization is a partner of the Committee
on Publication Ethics (COPE) and also works with Portico and the LOCKSS initiative for digital archive
preservation.

*Related content and download information correct at time of download.


The current issue and full text archive of this journal is available at
www.emeraldinsight.com/0306-8293.htm

Evolution of
The evolution of business business ethics
ethics in India in India
Ron Berger and Ram Herstein
Department of Business Management,
Jerusalem Academic Center Lander Institute, Jerusalem, Israel
1073
Downloaded by Universitas Islam Negeri Maulana Malik Ibrahim, UIN Maliki At 20:24 22 March 2017 (PT)

Received 8 June 2013


Abstract Revised 13 August 2013
Accepted 23 August 2013
Purpose Religion and culture can influence ethical behavior in business. It is suggested that there
has been and continues to be, a deep interrelationship between religion, business ethics, and economic
activity in India. As India is becoming a major global economic business partner, understanding its
unique ethical business infrastructure is gaining in importance. The purpose of this paper is to intend
to further the understanding of Indian (Vendantic) business ethics, as opposed to Greco Roman
business ethics, as the foundation of business culture in India. This paper further elaborates on the
evolution of business ethics and its implications on doing business in and with Indian companies.
Design/methodology/approach The authors undertook a conceptual approach in order to
understand the evolutionary process of Indian business ethics in a holistic view in order to understand
better its workings and effect on business interaction.
Findings The paper explains the constructs of business ethics in India and shows its evolution
over time.
Originality/value This original theoretical paper examines the evolution of Indian business ethics
over time in line with environmental changes in the Indian business landscape.
Keywords India, Religion, Corruption, Greco Roman business ethics, Jugaad,
Vedantic business ethics
Paper type Conceptual paper

Introduction
Much attention is being directed towards emerging economies, and in particular the
BRIC countries (Brazil, Russia, India, and China) the four largest developing markets in
the world (Das, 2006; Kiggundu and Ji, 2008; Yen et al., 2011). The BRIC acronym
captures the reality of a shift in economic power away from the traditionally powerful
developed countries to emerging countries. These emerging economies tend to be very
heterogeneous in nature on the national, political, economic, cultural, and institutional
levels and in their approach to business ethics (LeFebvre, 2011; Luo et al., 2011; Berger
and Herstein, 2012). Because the BRIC countries are emerging as dominant economic
powers, understanding the direction in which business ethics is evolving in these
countries is of great importance for policy makers, academics, and business leaders
alike (Hoff and Pandey, 2005; Marques, 2010; Ardichvili et al., 2012). Rapid economic
growth may lead to the development of a distorted understanding of capitalism and
growth where money, power, survival and profitability at any cost are considered the
primary goals of business (Biswas, 1998; Kanagasabapathi, 2007; Birtchell, 2011) to
the detriment of the ethical facets of business (Ruhe and Lee, 2008; Jeffrey, 2010).
Whereas China (Berger and Herstein, 2012; Yen et al, 2011), Russia ( Jaffe and
Tsimerman, 2011; Ardichvili et al, 2012; Puncheva-Michelotti et al., 2010) and Brazil International Journal of Social
(Ardichvili et al, 2012; Fernanda, 2010; Berger et al., 2011) have attracted much Economics
Vol. 41 No. 11, 2014
attention in recent years with regard to business ethics, there is much less literature pp. 1073-1086
concerning business ethics in India (Berg and Holtrugge, 2001). One of the most r Emerald Group Publishing Limited
0306-8293
important focal points in business ethics research is the awareness of the effect of DOI 10.1108/IJSE-05-2013-0129
IJSE Eastern traditions on business ethics and how business is conducted globally (Christie
41,11 et al., 2003; Doniger, 2011; Roy et al., 2011; Ang and Leung, 2000). Of these eastern
traditions, the one based on Hinduism (Indias main religion) is one of the most
prominent in terms of the effect it has on business ethics, but until recent years this
effect has generally been neglected in academic research (Marques, 2010).
Research on business ethics has shown that perceptions of what constitutes ethical
1074 business standards differ significantly around the world. Business ethics has become
an important requirement for doing business in the global marketplace (Christie et al.,
Downloaded by Universitas Islam Negeri Maulana Malik Ibrahim, UIN Maliki At 20:24 22 March 2017 (PT)

2003; Seshadri et al., 2007; LeFebvre, 2011), and is considered a necessary pillar for
business success (Hoff and Pandey, 2005; Raja, 2008; Tsalikis et al., 2008). Successful
global businesses in emerging economies tend to draw on indigenous cultural values
and practices to develop corporate strategies and management practices (Das, 2006;
Sharma, 2009; Mittal et al., 2011). Cultural and religious differences between countries
are the major reasons behind the variations in ethical standards and business practices
across nations (Ruhe and Lee, 2008). Examples include Guanxi in China, Blat in
Russia, Quan he in Vietnam, Ubuntu in South Africa, and Jugaad in India - all of
which are characterized by network-based business strategies, connections, social
networking, rich interpersonal relationships, a deep understanding of indigenous
knowledge and practices, and a unique combination of organic and mechanistic
organizational structures and management practices (Berger and Herstein, 2012).
This paper focuses on India, a rapidly growing emerging economy that has so far
been largely neglected in academic research (Roy et al., 2011). With over one billion
people India is ethnically, religiously, socially, and culturally a very heterogeneous
country (Berg and Holtrugge, 2001) and hence understanding its business and political
dynamics is of great importance. India is predominantly a Hindu country, with around
83 per cent of its population adhering to that religion (2011). While India is ranked
nineth among the worlds largest economies, its gross domestic product (GDP) per
Capita of over $1,500 (Mittal et al., 2011) places it among the poorest nations in the
world. Indian business ethics is influenced by religion in a more profound way than in
any other nation, even in comparison to the Chinese business system. Understanding
business ethics in the Indian (Vedantic) context is crucial to the success of foreign
business organizations and business people who wish to do business in India
(Chakraboty, 1995). Further, at a time when corruption scandals threaten the stability
of the Indian government and hinder its economy, it is becoming increasingly important
for managers to inquire whether business success in India comes at an ethical cost,
and whether or not they are willing to pay the price (Fikkert and Hansan, 1998;
Kanagasabapathi, 2007; Swaminathan and Anklesaria, 2010). Das (2006) reported that
Chinese businessmen attribute the main reason for their success to networking (Guanxi)
and government assistance; whereas Indian businessmen claim they succeed despite
government intervention. These businessmen further state that the main reason for their
success is Jugaad the ability to find innovative ways around prohibitive rules and red
tape. Chinas success is in many ways government led, whereas Indian businessmen
view government as a corrupt, wasteful and ineffective entity.

The importance of business ethics


Ethics is a systematic approach to moral judgments based on reason, analysis,
synthesis, and reflection of ones environment (Christie et al., 2003; Fernando, 2009). An
ethic by definition is a set of moral principles derived from the Greek word ethos
which means the characteristic spirit or attitudes of a community, people, or system
(Mittal et al., 2011). Business ethics is the application of ethical principles to issues that Evolution of
arise in the conduct of business activity (Small, 1993; Christie et al., 2003; Parboteeah business ethics
et al., 2008). Management in its broadest sense is defined as getting things done
through and with people. Culture has been identified as a significant determinant of in India
ethical attitudes and management style of business managers worldwide (Weaver and
Agle, 2002; Christie et al., 2003). Some researchers have argued that irrespective of
culture, western business ethics must be adopted to trade and survive in todays global 1075
business environment (Biswas, 1998; Weaver and Agle, 2002; Kanagasabapathi, 2007).
Downloaded by Universitas Islam Negeri Maulana Malik Ibrahim, UIN Maliki At 20:24 22 March 2017 (PT)

However, it has been shown that firms in emerging economies tend primarily to
draw on indigenous cultural values and practices to develop corporate strategies,
management practices, and business ethics to succeed (Berger et al., 2013b; Viswesvaran
and Deshpande, 1996). While western thought promotes the idea that action is
propelled by individual drives, the Vedantic philosophy common in India views the role
of personality with its internal predispositions for motivation, as secondary to societal
considerations in guiding behavior (Kopalle et al., 2010; Doniger, 2011; LeFebvre, 2011).
Hence an ethical individual is someone who acts according to acceptable standards of
behavior in terms of personal and social welfare within specific cultural boundaries.
Thus when applying managerial theories to the Indian milieu, certain adjustments
must be made to accommodate for differences in culture and religion (Chakraboty,
1997; Rajeev, 2007; Tsalikis et al., 2008). Research suggests that it makes good
long-term business sense to be ethical (Kedia et al., 2006; Seshadri et al., 2007). Hence, to
understand business ethics in India, it is crucial to be better acquainted with its culture,
history, and religion the form the basis of its business ethical infrastructure.

Business ethics in the Indian context: Vedantic principles


There is a strong interrelationship between religious thought and economic activity
in India (Dehejia and Dehejia, 1993; Fernando, 2009). Confucian and Hindu religious
traditions have inspired most of the key tenets of the Asian ethical base. These traditions
differ in many ways from the Greco Roman philosophical roots of contemporary western
ethics (Christie et al., 2003; Rajeev, 2007; LeFebvre, 2011). The differences in business ethics
between west and east are deeply embedded in the differences between national cultures.
The rich culture of India, immersed in spirituality and religion, is focused on intuitive
ethical decision making and the rule of man, which sets it apart from the western analytical
approach to ethical decision making based on norms and the rule of law (Marques, 2010;
Ardichvili et al., 2012). Business ethics and compliance is still in its early stages of
development in Indian companies (Cappelli et al., 2010; Kopalle et al., 2010; Roy et al., 2011).
Greco Roman ethics adhere to very specific ideas as to how individuals should
conduct themselves to lead a morally good life (OBoyle and Dawson, 1992). Western
ethics is based on the assumption that every human being is free to choose between
good and evil (Berger and Herstein, 2013). What is ethical is a function of what
constitutes a moral good (a utilitarian view). An ethical action is whatever maximizes
the net good or minimizes the net harm to oneself and society. Greco Roman Business
ethics addresses the obstacles of ignorance by specifying what the individual must do
to act morally; to conduct ones affairs in accordance with the principles of justice
(economic and otherwise).
In recent years, ethical lapses have been a significant area of concern not only for
managers in Asia, but also for leading multinational corporations working in the
region (Bhasin, 2010; Birtchell, 2011). Although India is a liberal democratic country, its
business environment is highly bureaucratic and non-participatory (Dehejia and
IJSE Dehejia, 1993; Agarwala, 2001; Sharma, 2009). Indian companies tend to adhere to a
41,11 lower standard of business ethics in their organizational infrastructure than their
western counterparts (Biswas, 1998; Kanagasabapathi, 2007). Researchers have noted
that as a result of the tight relationship between business ethics and business success,
a country as poor as India, in terms of the Indian standard of living, cannot afford to
allow such pervasive corruption to exist (Viswesvaran and Deshpande, 1996). Crime
1076 has transcended moral barriers and is eating into the vitals of the economy (Chakraboty,
1997; Khandwalla, 2002; Das, 2006). Corruption in India has permeated every level of
Downloaded by Universitas Islam Negeri Maulana Malik Ibrahim, UIN Maliki At 20:24 22 March 2017 (PT)

society from senior bureaucrats and politicians to high ranking public servants to
professionals to clerks and street vendors (Agarwala, 2001). At present Indias justice
system appears to be geared to serve political rather than public interests, in addition to
being mired in corruption (Bhasin, 2010; Berg and Holtrugge, 2001). In such a system,
there is little likelihood that individual complaints will be heard or processed. When
politicians and government officials themselves are corrupt, they will do little to clean up
scams or hold people accountable (Chakraboty, 1995). Table I compares the major ethical
indicators of India to those of its neighbors and to western countries.
The size of a countrys economy, as measured by the GDP, reflects the market value
of all finished goods and services produced within a country in a given time frame. It is
considered a good indicator of the size of a countrys market in relation to other
countries. Table I shows that India has the nineth largest economy worldwide.
The level of foreign direct investment in a country is an indicator of inflow of foreign
capital, skills, job opportunities, and technology. Tsalikis et al. (2008) used the
Corruption Perceptions Index that assesses perceived corruption in the public sector in
183 countries. India ranks 95 overall, and is the second worst in the region on this index
(Indonesia is the worst). This suggests that Indias public infrastructure is viewed as
extremely corrupt and unethical.
Chatterjee et al. used the Bribe Payers Index (BPI) that ranks 28 of the worlds
largest economies according to the perceived likelihood that companies from these
countries pay bribes abroad. It is used to analyze the level of corruption in the various
countries. The BPI data indicate that although Indian business firms are relatively
unethical in their business conduct, ranking 19 out of 28, they are still better perceived
than Indonesian and Chinese firms. Nevertheless, this highlights the fact that Indian
firms are thought to act unethically abroad by trying to secure business deals through
bribery. This state can be explained, partially, by what is considered ethical in the
western vs the Indian view of business ethics, The Nielsen Global Online Consumer
Confidence Survey (CFS), examines consumer confidence levels above and below a
baseline of 100, which indicates degrees of optimism and pessimism of consumers in
a specific country with regard to its economy. The CFS data shows that although India

Ranking of the Economy FDI (average CPI BPI CFS NSRI EDBI
Country by GDP (IMF-2011) 2007-2011) (2011) (2011) (Q2-2011) (2007) (2011)

USA 1 112.9 (2) 7.1 (24) 8.1 (10) 78 (5) 0.83 (21) 4
Taiwan 19 7.1 (32) 6.1 (32) 7.5 (19) 89 (2) 0.72 (37) 25
S.Korea 15 7.2 (31) 5.4 (43) 7.9 (13) 52 ( 1) 0.73 (34) 8
Table I. China 2 86.3 (3) 3.6 (75) 6.5 (27) 105 (3) 0.47 (108) 91
Comparative business India 9 20.4 (18) 3.1 (95) 7.5 (19) 126 (5) 0.53 (73) 132
ethics indicator Japan 3 13.3 (22) 8 (14) 8.6 (4) 55 (0) 0.87 (16) 17
suffers from massive corruption and poverty, its consumers view its future prospects Evolution of
positively. This surprising attitude might be the result of Jugaad and Karma business ethics
concepts that are so embedded in Indias psyche, where fatalism and belief in
reincarnation are so evident. The National Social Responsibility Index (NSRI) in India
measures the extent to which the state treats its citizens fairly, and whether or not the
country and its institutions consider their citizens well-being a top priority. The NSRI
data show that Indian citizens see themselves as being treated unethically by Indias 1077
national institutions. The only two countries in the region whose NSRI status is even
Downloaded by Universitas Islam Negeri Maulana Malik Ibrahim, UIN Maliki At 20:24 22 March 2017 (PT)

worse than that of India are Indonesia and China which are not free market economies.
The World Bank created the Ease of Doing Business Index. It ranks 183 economies in
terms of the ease of doing business. This scale shows that India is one of the most
difficult and most complex places for doing business, globally; this poor ranking
explains why so many Indian business people boast that their success in business was
achieved in spite of negative intervention by the Indian bureaucracy and its unethical
behavior.

The origins of business ethics in India


Many foreign firms need to deal with misunderstandings and ignorance of differences
in local culture and conditions that derive from socio political obstacles (Berg and
Holtrugge, 2001).
India, a highly spiritual country, is struggling with corruption and unethical
behavior (Fernando, 2009). Shedding light on the origins of its religion-based business
ethics can bring about a better understanding of business dealings. In most studies,
culture is considered as one of the prime variables influencing ethical attitudes and
behavior (Christie et al., 2003; Berger and Herstein, 2013). Culture has to do with shared
ideas, the way a group of people conceptualize and represent the world around them
(Small, 1993; Ardichvili et al., 2012). Religion, a part of culture, provides the basis for
what is considered ethical and the points of reference for evaluating ethical conduct
(LeFebvre, 2011; Mittal et al., 2011). Indias prominent religion is Hinduism and hence,
understanding its religious and cultural roots is essential to understanding business
ethics in India.
Although Hinduism is principally concerned with individual enlightenment, it
offers guidelines for economic activity (Essen, 2010). Hinduism is seen as a philosophy
as it offers a practical worldview and way of living. It is an ethical, value-based and
educational system (Marques, 2010). Hindu religious writings provide a picture of the
ethics of ancient India. These are the earliest sources on ethics in the world (Gupta,
2008). Hinduism, as the oldest living religion, claims to represent mans perennial quest
for truth in its ultimate and absolute form (Singh, 1991). Ethics, as it appears in Hindu
scriptures, constitutes a moral system which acknowledges genuine moral dilemmas
and provides guidance towards solving them. Most of the dilemmas addressed in
Hindu scriptures deal with problems having to do with the suffering of the individual
and others, and do not directly address issues related to business (Herman, 1991).
The philosophy of Karma is one of the cornerstones of the Vedantic movement of
which Hinduism is a part. The Karma principle states that one is responsible for ones
actions and the individual alone must bear the consequences of those actions in the
future (Kopalle et al., 2010; Doniger, 2011). This ethical principle has a major effect on
individuals, causing them to discipline and regulate their own activities. A strong
belief in Karma implies taking responsibility for ones own behavior in the present
given that it will impact ones future life or the hereafter (through reincarnation).
IJSE In that sense, actions may not necessarily lead to immediate consequences, but rather,
41,11 to consequences that can appear at some future point in time. The notion of Karma that
everything happens for a reason, is still a significant factor in the decision making
process in general, and ethical decision making in particular among many Indian
business people (Biswas, 1998; Kanagasabapathi, 2007; Bhasin, 2010). There are three
essential tenets in the doctrine of Karma (Herman, 1991; Singh, 1991):
1078 (1) actions can be broadly classified as appropriate (good) or inappropriate (bad);
Downloaded by Universitas Islam Negeri Maulana Malik Ibrahim, UIN Maliki At 20:24 22 March 2017 (PT)

(2) the notion of rebirth, where actions in a particular lifetime may bear fruit either
during the current life or during future ones (reincarnations); and
(3) good actions in the present lead to good outcomes in the future and
inappropriate current actions lead to bad outcomes in the future.
Karma, a part of the Vedantic ethical philosophy, states that an individual who chooses
the appropriate (ethical) path attains happiness (in the long run) and one who chooses
pleasure or easy options (the unethical path), loses sight of the long-term objective
(happiness) and gains negative Karma instead. Karma can be seen as the Vedantic
basis for justice in that each individual receives what he/she deserves in life based
upon past actions. Indian cultural, political and business ethics are focused around the
four main goals of Dharma (justice, duty, and virtue): Artha (success and prosperity),
Kama (pleasure), and Moksha (liberation). The way to achieve the goal of positive
Karma passes through an optimal synthesis of the four facets of Karma: Dharma,
Artha, Kama, and Moksha (Bhasin, 2005, 2010). In Indian philosophies these are
considered as the four main goals of life, also known as the Purusharthas.

Dharma
Generally means the teachings of the Vedantic philosophy and its code of conduct and
duty. It is the principle that guides a responsible life and relies more on reason than on
intuition (Mittal et al., 2011). It means Law or the Natural Law. It is a core concept of
major importance in Indian Vedantic philosophy and religion. It is the ethical sense
that helps regulate and discipline ones actions (Bhasin, 2010). It encompasses a broad
area of social customs, and sets out specific rules of conduct for almost every aspect of
life (Thondup, 1995). The earliest beginnings of ancient Indias criminal and civil law
can be traced back to Dharma (Roy et al., 2011). Kama, Artha, and Moksha should
always conform to Dharma to guarantee the existence of an orderly society (Bhasin,
2010). While Dharma, Artha, and Kama are related to the goals of everyday life,
Moksha has to do with the ultimate goal of releasing oneself from the endless cycle of
death and rebirth. Dharma defines those behaviors deemed necessary for the
maintenance of the natural order of things and encompasses behavioral ideas such as
duty, vocation, religion and everything that is considered correct, proper, or decent. It is
believed that one who lives in accordance with Dharma principles proceeds more
quickly towards Moksha (spiritual liberation). In traditional Hindu society, Dharma
has historically denoted a variety of concepts, such as Vedantic ritual, ethical conduct,
and civil and criminal law (Roy et al., 2011).

Kama
Covers the entire range of human cravings or enjoyment of life such as physical desires,
physical pleasures and gratification at the sensory level. It is one of the goals of Hindu
life and refers to sensual or sexual pleasure. It is associated with emotions and desires
related to ones physical existence. It is viewed as the thread that holds things together. It Evolution of
is the guide to virtuous and gracious living and family life (Sharma and Talwar, 2005). business ethics
Artha in India
Is the instrument for fulfilling Kama. It refers to the idea of material prosperity and
material attainments. The concept encompasses achieving widespread fame, garnering
wealth and maintaining an elevated social standing. Artha is one of the duties of a 1079
person in the second stage of life, the householder stage. During this stage a person
Downloaded by Universitas Islam Negeri Maulana Malik Ibrahim, UIN Maliki At 20:24 22 March 2017 (PT)

should accumulate as much wealth as possible, without being greedy, should help
and support his family and should be able to donate to noble charitable causes.
Accumulation of wealth is viewed as the apparent reason for ones actions. It is
considered to be a noble goal as long as it follows the dictates of Vedantic ethics and
morality (Rajeev, 2007). It states that the principal role of money is to serve the needs of
society (Sharma and Talwar, 2005).

Moksha
Means the release, or the liberation from the concomitant suffering involved in being
subject to the cycle of repeated reincarnations (Doniger, 2011). It is defined as a loving,
eternal union with God and considered the utmost perfection of existence. It is considered
Mans supreme goal, to be attained through spiritual and religious endeavor to the next
life. Most Indians believe that an individuals situation in this lifetime is by and large the
consequence of actions committed in previous lives and that change is relatively difficult
to accomplish (Gopalan and Stahl, 1998). This can lead to attempts to better ones future
incarnations by acting ethically in this lifetime, or to abstain from acting unethically for
fear of condemning ones future incarnations. This ethical behavior can be achieved
through excellence at work and going beyond material desires. In India Moksha is the
non-apparent motivator that affects the way one acts either ethically or unethically.

The evolution of Indian business ethics


Business history scholars have noted that India has been an important center of
international trade since ancient times (Chakraboty, 1997; Agarwala, 2001; Rajeev,
2007). The ancient Indian religious enforcement mechanisms based on Hinduism
highlighted the importance of applying ethical principles to all facets of life
(Kanagasabapathi, 2007). As a result, business was conducted while adhering to a high
personal value system that created a strong business ethics infrastructure. This ethics
infrastructure led the Indian economy to prosper until the beginning of the nineteenth
century, at which point the effects of Western rule started eroding that infrastructure.
While India was highly regarded for its business prowess and prosperity in ancient
times, in the recent pas it has experienced a precipitous commercial decline to the point
of becoming a marginal economy (Das, 2006). Now, at the beginning of the twenty-first
century, India is once again viewed as a major emerging global economy. Indias
success in the services sector is worth noting, but its overall economic performance still
lags behind that of China (Ardichvili et al., 2012).
The evolution of business ethics in India can be divided into several phases, as
described below.

Phase 1 Panchayati Raj (up to 1700)


The primary legal and ethical cultural ruling apparatus in India was the Panchayati, a
group of elders who were chosen and accepted by the local community to rule and
IJSE regulate the community (Rajeev, 2007). The Vedantic philosophy states that its core
41,11 function is to create wealth for society through manufacturing, domestic distribution,
foreign trade, financing and other related activities (Sharma and Talwar, 2005).
Even while encouraging wealth creation, the Panchayati structure emphasized high
business ethics (Kanagasabapathi, 2007). It was based on Hindu religious texts that
state For those who earn wealth through the right means, virtue and happiness will
1080 follow (Couplet 754). These texts further stress that one should avoid using wealth
that was earned inhumanely (Couplet 755). These basic ethical principles were taught
Downloaded by Universitas Islam Negeri Maulana Malik Ibrahim, UIN Maliki At 20:24 22 March 2017 (PT)

and business norms were self-regulated by the Panchayati. An important element


during the Panchayati Raj were the traders who specialized in international markets.
These traders paved the way for future international trade through their renowned
ethical behavior (Majumdar, 2004).

Phase 2 British Raj (1858-1947)


British control over India opened a window of opportunity for furthering Indias
international trade and its integration into the global economy. This window of
opportunity received a major boost during First World War. Many markets for finished
consumer goods from the British factories, especially in the Orient, were cut off as a
result of hostilities. The resulting shortage of goods created a demand for a wide array
of products especially in India (Kanagasabapathi, 2007). Traditional business systems
and ethical practices that incorporated a social enforcement mechanism were replaced
with newer systems as a result of the British colonial rule and the subsequent
changes in approaches to business (Majumdar, 2004). The new system of ethics was
based on Anglo- Saxon or Greco- Roman practices which were foreign to local business
people. The new ethical principles replaced the traditional ones, causing the collapse
of the old system, and bringing about a decline in ethical conduct in India (Chakraboty,
1997). The transition from a subsistence culture to a commercial capitalistic culture
had a major effect on the moral fabric of society causing behavior to fall short
of traditional ethical expectations. This change absolved the Indian businessman of
Vedantic-based moral and ethical responsibility towards his fellow citizens. The
modern Indian businessperson, free of religious constraints, and oblivious of legal and
ethical ones, tends to pursue his/her own ends, in a free-for-all atmosphere which has
brought about further deterioration of ethics. The decline of Hinduism based ethics
seems to parallel the stagnation of the economy, and these two are linked to the decay
of social values in contemporary India.

Phase 3 License Raj or Permit Raj (1947-1990)


British rule ended in 1947 and India became an independent nation. Ever since then, it
has been attempting to release the shackles of its colonial past and establish itself as a
sovereign nation, both politically and economically. Its new, democratically elected
leaders led India into a type of mixed economy, combining elements of Soviet style
command-economy with elements of a free market economy (Agarwala, 2001). After
gaining independence from British rule, a regulatory framework of impediments and
compensations was introduced into the Indian economy (Khandwalla, 2002; Majumdar,
2004). The ruling Indian party opted for the western administrative and economic
systems over the historic Hindu Vedantic-based system (Kanagasabapathi, 2007).
This meant that traditional Indian ethics, based on Hinduism, which had guided India
during periods of past commercial success, could not remain the pillars of the modern
Indian business infrastructure. All those changes resulted in control by the public
sector over most major investments and businesses. Minor investments were handled Evolution of
by the private sector which was quite successful in these endeavors (Fikkert and business ethics
Hansan, 1998; Raja, 2008). Indias long-term growth during the post-independence
period (1947) was slow (Das, 2006). The License-Raj trained a large army of educated in India
professionals through its wide array of public sector firms, government R&D labs, and
technical colleges, producing many good administrators, but failing to harness
individual knowledge and entrepreneurship to truly develop India (Bhukuth et al., 1081
2007). The Indian business infrastructures over-reliance on governmentally controlled
Downloaded by Universitas Islam Negeri Maulana Malik Ibrahim, UIN Maliki At 20:24 22 March 2017 (PT)

sectors led to inefficiency, rampant corruption and unethical behavior by both


politicians and managers in State owned enterprises.

Phase 4 Invisible Raj (1990-1995)


The influence of ethics, based on Hinduism and Vedantic philosophies, was further
weakened under pressure by powerful global markets (Kanagasabapathi, 2007). After
the introduction of global business policies into the Indian traditional business and
legal systems, more unethical practices entered the system as part of free trade and
modernization. The government privatized many state enterprises and lowered its
involvement in the Indian markets as demanded by the International Monetary Fund
(IMF) and the World Trade Organization (WTO). These global organizations
emphasized profits, which had the (unintended) consequence of leaving business ethics
behind. In the 1990s the economy reached its lowest ebb and there was a double digit
rate of inflation, decelerated industrial production, fiscal indiscipline, a very high
borrowing to GNP ratio (both internal and external borrowing) and a dismally low
level of foreign exchange reserves. The World Bank and the IMF agreed to bail India
out at the time, provided that it changed its economic structure from a highly regulated
one to a free market economy. This transformation had a major effect on how business
is conducted in India and what is considered as ethically acceptable in business. The
liberalization of the Indian economy resulted in sudden and increased levels of
competition for Indian firms from international businesses. At the same time it also
created opportunities for entrepreneurial Indian firms to flourish. This period was
dubbed the Invisible Raj by Gupta (2008).

Phase 5 Jugaad Raj (1995-current day)


As a result of the desire for Artha (accumulation of wealth), the opening up of
international markets, and jealousy of Chinese global economic success, the prevalent
market ideology has further deteriorated business ethics in India (Saran and Guo, 2005;
Sharma, 2009). Indians have had to find a way to run businesses in an unethical, corrupt
and competitive business environment with a lack of resources, in the hope of a
transformation from indigence to prosperity. The rule of the game in this phase are
known collectively as Jugaad (Birtchell, 2011). At a deep cultural level, most Indians
believe there is nothing rigid about life. Everything is manageable, solvable; everything
has a workaround especially when the laws and regulations are not in your favor.
A Jugaad is a highly networked and resourceful person who can weave his way through
any system and get things done. Jugaad is a Hindi word referring to a seemingly
beneficial trait of resourcefulness when the odds are against you (Krishna, 2003; Birtchell,
2011). The word is abundantly used, usually signifying the creativity of the Indian people
to make existing things work or to create new things. It is increasingly being recognized
all over the world, as an acceptable frugal way of doing business in India (Krishna, 2003;
Swaminathan and Anklesaria, 2010; Birtchell, 2011; Cappelli et al., 2010).
IJSE Indian business culture places a premium on favors, friendship, and clanship
41,11 (Chakraboty, 1997). Friendship is highly valued, whether based on multigenerational
family friendships, school friendships, or personal friendships (Ardichvili et al., 2012).
Jugaad is now part of Indian business culture and represents the idea of working with
meager resources (Birtchell, 2011). From the practice of jury-rigging, bribery and
doing all needed repairs oneself, Jugaad has evolved into a slang for a quick fix.
1082 It has also developed into the concept of borderline criminal activity in the informal
Indian economy (Jeffrey, 2010; Sharma, 2009). Jugaad is based in part on Karma, the
Downloaded by Universitas Islam Negeri Maulana Malik Ibrahim, UIN Maliki At 20:24 22 March 2017 (PT)

latent attitude of disregard for the individuals lack of control over business risks and
its effect on future incarnations. Instead of increasing business ethics and hence
improving ones prospects in future lifetimes Jugaad has decreased business ethics
through short-term fatalism (Swaminathan and Anklesaria, 2010). Jugaad rejects risk
prevention (now common in developed business models) and offers an alternative
model for dealing with emerging uncertainties (Birtchell, 2011). Indias economic
expansion in an environment of abject poverty and limited resources is, to a large
extent a product of the Jugaad culture.

Conclusion: responses and challenges


As India integrated into the global economy and new business systems evolved as a
result of foreign influences and globalization, business ethics in India deteriorated.
Indians, as a whole, may have failed to comprehend that abandoning business ethics
based on ancient Indian customs was a major factor in the deterioration of Indias
economic situation. No Indian company that hopes to globalize in any major way can
afford to ignore the transformations sweeping the global business arena on the ethics
front (Seshadri et al., 2007). It is important for Indian firms to understand that they can
no longer afford to ignore the issue of business ethics (Kedia et al., 2006). Competing to
win in the global marketplace will require them to institute ethics and compliance
policies that are at globally acceptable standards and build an ethical corporate
culture by making ethics and values a prominent part of the leadership agenda (Berger
et al., 2013a).
Globalization has highlighted the strategic importance of ethical behavior in
conducting business worldwide (Berger and Herstein, 2012). Theorists such as Milton
Friedman and Theodore Levitte are the proponents of an approach that advocates the
idea that the business unit has nothing to do with social objectives and must focus only
on its own economic responsibilities. Many Indian firms have embraced some of these
prevailing economic ideas. It could be argued that the Jugaad response that has
managed to achieve so much in the face of corruption and other systemic obstacles is
an extension of this economic approach. It is important to note that the rulers of India
over the last three decades have failed to recognize the importance of the ethical
traditions of India in making it a business success. The Indian government has been
attempting to undertake a program of economic liberalization to boost economic
growth. But if the above analysis is correct, any economic policy that fails to address
the religious and social ills of the country is ignoring a key factor with major economic
ramifications, and thus runs the risk of failing to elevate Indias economic status. For a
long time, India has been falling behind on every indicator of economic and social
wellbeing. Chinas growth strategy is methodical and deliberate, while Indias seems to
be opportunistic and chaotic (Das, 2006). In terms of integrating into the global
economy, economic reforms and restructuring of the economy, China has gone much
further than India and has reaped abundant rewards. Many business people in India do
not consider the phrase business ethics as an integral part of the overall economic Evolution of
growth issue (Biswas, 1998). As India is experiencing a generalized ethical decline in business ethics
almost every profession, business people are no exception. There is rampant
corruption, deceit, cheating, and dishonesty to be found everywhere, in the name of in India
business (Biswas, 1998; Agarwala, 2001; Birtchell, 2011; Ardichvili et al., 2012).
Western managers rely more on normative ethics, whereas Indians managers rely
more on assessing relational attributes of specific cases. Indian managers consider 1083
unconditional loyalty to their organization a highly ethical behavior, and are similar to
Downloaded by Universitas Islam Negeri Maulana Malik Ibrahim, UIN Maliki At 20:24 22 March 2017 (PT)

the Chinese in this respect. Indian business culture places a premium on favors,
friendship, and clanship. Friendship is highly valued, whether based on
multigenerational family friendships, school friendships, or personal friendships.
Managers from collectivistic societies are more likely to follow the utilitarian theory of
ethical decision making than managers from individualistic societies. The utilitarian
theory supports the credo no harm done nothing wrong which might explain why
Indian corporations often use this logic to justify otherwise unethical behavior.
It would be interesting to further research business ethics in India in relation to
Jugaad. Since Jugaad lays the groundwork for corruption and unethical behavior it is
an important point for business ethics research. is a double edged sword; it has been
glorified by many as the streak of ingenuity that solves tough problems under
daunting constraints, but it can also be a synonym for deception, trickery and
subterfuge. The pitfalls of Jugaad for the development and civil society in India include
the pronounced lack of a value structure that would provide valuable, long-term
guidance, and corrosive, rampant political corruption. Slicing through bureaucracy,
inadequate infrastructure and chaotic environment demands a unique tool, one that
sometimes neglects western ethical norms.

References
Agarwala, N. (2001), A Comprehensive History of Business in India from 3000BC to 2000AD,
Tata McGraw-Hill, New Delhi publication, New Delhi.
Ang, S. and Leung, S. (2000), Out of the mouths of babes: business ethics and youths in Asia,
Journal of Business Ethics, Vol. 28, pp. 129-144.
Ardichvili, A, Jondle, D., Kowske, B., Cornachione, E., Li, J. and Thakadipuram, T. (2012),
Ethical cultures in large business organizations in Brazil, Russia, India, and China,
Journal of Business Ethics, Vol. 105 No. 4, pp. 415-428.
Berg, N. and Holtrugge, D. (2001), Public affaires management activities of German
multinational corporations in India, Journal of Business Ethics, Vol. 30, pp. 105-119.
Berger, R. and Herstein, R. (2012), The limits of Guanxi from the perspective of the Israeli diamond
industry, Journal of Chinese Economic and Foreign trade studies, Vol. 5 No. 1, pp. 29-41.
Berger, R. and Herstein, R. (2013), Marketing and non-market based value creation: gifts and
guanxi, Journal of Business Theory and Practice, Vol. 1 No. 1, pp. 166-185.
Berger, R., Choi, C. and Kim, J. (2011), Responsible leadership for multinational enterprises in
bottom of pyramid countries: the knowledge of local managers, Journal of Business
Ethics, Vol. 101, pp. 553-561.
Berger, R., Choi, C.J. and Herstein, R. (2013a), Chinas social market economy: the leverage of
economic growth, International Journal of Asian Business and Information Management,
Vol. 4 No. 1, pp. 21-30.
Berger, R., Herstein, R. and Mitki, R. (2013b), Guanxi: the evolutionary process of management
in China, International Journal of Strategic Change Management, Vol. 5 No. 1, pp. 30-40.
IJSE Bhasin, M. (2005), Dharma in corporate governance: transparency the biggest challenge in
Asian countries, EBS Review, Vol. 2, pp. 99-109.
41,11
Bhasin, M. (2010), Dharma, corporate governance and transparency: an overview of the Asian
markets, International Journal of Business and Management, Vol. 5 No. 6, pp. 56-73.
Bhukuth, A, Ballet, J. and Guerin, I. (2007), Social capital and the brokerage system: the
formation of debt bondage in South India, Journal of Economic Studies, Vol. 34 No. 4,
1084 pp. 311-323.
Birtchell, T. (2011), Jugaad as systematic risk and disruptive innovation in India,
Downloaded by Universitas Islam Negeri Maulana Malik Ibrahim, UIN Maliki At 20:24 22 March 2017 (PT)

Contemporary South Asia, Vol. 19 No. 4, pp. 357-372.


Biswas, N. (1998), Economics and ethics in an Indian society: a reflective analysis, Journal of
Social Economics, Vol. 25, pp. 1064-1072.
Cappelli, P., Singh, H. and Useem, M. (2010), The Indian way: lessons for the US, Academy of
Management Perspectives, May, pp. 6-24.
Chakraboty, S.K. (1995), Ethics in Management: Vendantic Perspectives, Oxford University Press,
Delhi.
Chakraboty, S. (1997), Business ethics in India, Journal of Business Ethics, Vol. 16, pp. 1529-1538.
Christie, P., Kwon, I., Stoeberl, P. and Banmhart, R. (2003), A cross cultural comparison of ethical
attitudes of business managers: India, Korea and the United States, Journal of Business
Ethics, Vol. 46, pp. 263-287.
Das, P. (2006), The Chinese and Indian economies: comparing the comparables, Journal of
Chinese Economic and Business Studies, Vol. 4 No. 1, pp. 77-89.
Dehejia, R. and Dehejia, V. (1993), Religion and economic activity in India: an historical
perspective, American Journal of Economics and Sociology, Vol. 52 No. 2, pp. 145-153.
Doniger, W. (2011), From kama to karma: the resurgence of puritanism in contemprary India,
Social Research, Vol. 1, pp. 49-74.
Essen, J. (2010), Sufficiency economy and Santi Asoke: Buddhist economic ethics for a just and
sustainable world, Journal of Buddhist Ethics, Vol. 17, pp. 70-99.
Fernanda, D. (2010), Working with corporate social responsibility in Brazilian companies:
the role of managers values in the maintenance of CSR cultures, Journal of Business
Ethics, Vol. 96 No. 3, pp. 355-368.
Fernando, A.C. (2009), Business Ethics: An Indian Perspective, Ashgate Publishing, Prentice
Hall, NJ.
Fikkert, B. and Hansan, R. (1998), Return to scale in the highly regulated economy: evidence
from Indian firms, Journal of Development Economics, Vol. 56, pp. 51-79.
Gopalan, S. and Stahl, A. (1998), Application of American management theories and practices to
the Indian business environment: understanding the impact of national culture, American
Business Review, pp. 30-41.
Gupta, V. (2008), An inquiry into the characteristics of entrepreneurship in India, Journal of
International Business Research, Vol. 7 No. 1, pp. 53-69.
Herman, L. (1991), A Brief Introduction to Hinduism, Westview Press, Oxford.
Hoff, K. and Pandey, P. (2005), Opportunity is not everything: how belief systems and
mistrust shape response to economic incentives, Economics in Transition, Vol. 13 No. 3,
pp. 445-472.
Jaffe, E. and Tsimerman, A. (2011), Do business ethics worsen during economic crises? A study
of Russian attitudes, Journal of Academic & Business Ethics, Vol. 4, pp. 1-13.
Jeffrey, C. (2010), Timepass: Youth, Class and the Politics of Waiting in India, Stanford University
Press, Stanford.
Kanagasabapathi, K. (2007), Ethics and values in Indian economy and business, International Evolution of
Journal of Social Economics, Vol. 34 No. 9, pp. 577-585.
business ethics
Kedia, B., Mukherjee, D. and Lahiri, S. (2006), Indian business groups: evolution and
transformation, Asia Pacific Journal of Management, Vol. 23, pp. 559-577. in India
Khandwalla, P. (2002), Effective organisational response by corporates to Indias liberalisation
and globalisation, Asia Pacific Journal of Management, Vol. 19, pp. 423-448.
Kiggundu, N. and Ji, S. (2008), Global growth companies in emerging economies: new champions, 1085
new challenges, Journal of Business and Behavioral Sciences, Vol. 19 No. 1, pp. 70-90.
Downloaded by Universitas Islam Negeri Maulana Malik Ibrahim, UIN Maliki At 20:24 22 March 2017 (PT)

Kopalle, P., Lehmann, D. and Farley, J. (2010), Consumer expectations and culture: the effect of
belief in Karma in India, Journal of Consumer Research, Vol. 37, pp. 251-263.
Krishna, A. (2003), What is happening to caste? A view from some North Indian villages, The
Journal of Asian Studies, Vol. 62 No. 4, pp. 1171-1193.
LeFebvre, R. (2011), Cross-cultural comparison of business ethics in the US and India: a study of
business codes of conduct, Journal of Emerging Knowledge on Emerging Markets, Vol. 3,
pp. 391-409.
Luo, Y., Sun, J. and Wang, S. (2011), Competitive strategic management: an emergent field in
international management, Journal of International Management, Vol. 17, pp. 190-200.
Majumdar, S. (2004), The hidden hand and the Licesce Raj to an evaluation of the relationship
between age and the growth of firms in India, Journal of Business Venturing, Vol. 19,
pp. 107-125.
Marques, J. (2010), Toward greater consciousness in the 21st century workplace: how Buddhist
practices fit in, Journal of Business Ethics, Vol. 92, pp. 211-225.
Mittal, R., Pareek, S., Abbasi, H. and Kharir, M. (2011), Business ethics and religion: a review of
different religious texts, European Journal of Economics, Finance and Administrative
Sciences, Vol. 31, pp. 176-181.
OBoyle, E. and Dawson, L. (1992), The American marketing association code of ethics:
instructions to marketers, Journal of Business Ethics, Vol. 11, pp. 921-932.
Parboteeah, P., Hoegl, M. and Cullen, J. (2008), Ethics and religion: an empirical test of a
multidimensional model, Journal of Business Ethics, Vol. 80, pp. 387-398.
Puncheva-Michelotti, P., Michelotti, M. and Gahan, P. (2010), The relationship between
individuals recognition of human rights and responses to socially responsible companies:
evidence from Russia and Bulgaria, Journal of Business Ethics, Vol. 93 No. 4, pp. 583-605.
Raja, J. (2008), SME Entrepreneurship, firm performance, and corporate governance practices in
Indian service firms, Journal of Services Research, Vol. 7 No. 2, pp. 99-113.
Rajeev, P. (2007), Wisdom from ancient Indian philosophy for the corporate world,
International Management Review, Vol. 3 No. 1, pp. 72-81.
Roy, S., Eshghi, A. and Shenkar, V. (2011), Dimensions of trust and trustworthiness in retail
banking: evidence from India, Marketing Management Journal, Vol. 21 No. 1, pp. 97-110.
Ruhe, J. and Lee, M. (2008), Teaching in international business courses: the impacts of religions,
Journal of Teaching in International Business, Vol. 19 No. 4, pp. 362-388.
Saran, A. and Guo, C. (2005), Competing in the global market place: the case of India and China,
Business Horizons, Vol. 48, pp. 135-142.
Seshadri, D., Raghavan, A. and Hedge, S. (2007), Business ethics the next frontier for globalizing
Indian companies, Vikalpa, Vol. 32 No. 3, pp. 61-79.
Sharma, D. (2009), China and India in the Age of Globalization, Cambridge University Press,
New York, NY.
Sharma, A. and Talwar, B. (2005), Corporate social responsibility: modern vis-a`-vis vedic
approach, Measuring Business Excellence, Vol. 9 No. 1, pp. 35-45.
IJSE Singh, B. (1991), Hinduism and Western Thought, Arnold Publications, New Delhi.
41,11 Small, M. (1993), Ethics in business and administration: an international and historical
perspective, Journal of Business Ethics, Vol. 12, pp. 239-300.
Swaminathan, S. and Anklesaria, A. (2010), Success Despite Government, Courtesy Jugaad,
Cato Institute.
Thondup, T. (1995), Enlightened Journey: Buddhist Practices as Daily Life, Shambala Publications,
1086 Boston, MA.
Tsalikis, J., Seaton, B. and Li, T. (2008), The international business ethics index: Asian emerging
Downloaded by Universitas Islam Negeri Maulana Malik Ibrahim, UIN Maliki At 20:24 22 March 2017 (PT)

economies, Journal of Business Ethics, Vol. 80, pp. 643-651.


Viswesvaran, C. and Deshpande, S. (1996), Ethics, success, and job satisfaction: a test of
dissonance theory in India, Journal of Business Ethics, Vol. 15, pp. 1065-1069.
Weaver, G. and Agle, B. (2002), Religiosity and ethical behavior in organizations: a symbolic
interactionist perspective, Academy of Management Review, Vol. 27 No. 1, pp. 77-97.
Yen, D., Bradley, B. and Wang, C. (2011), The measurement of Guanxi: introducing the GRX
scale, Industrial Marketing Management, Vol. 40, pp. 97-108.

Further reading
Batten, J., Hettihewa, S. and Mellor, R. (1999), Factors affecting ethical management: comparing
a developed and a developing economy, Journal of Business Ethics, Vol. 19, pp. 51-59.
Cavanagh, G. (1976), American Business Values in Transition, Prentice Hall, Englewood Cliffs, NJ.
Chatterjee, S.K. and Pearson, C. (2003), Ethical perceptions of Asian managers: evidence of
trends in six divergent national contexts, Business Ethics: A European Review, Vol. 12
No. 2, pp. 203-211.
Dixit, A. (2009), Governance institutions and Indias development, The Indian Journal of
Industrial Relations, Vol. 44 No. 4, pp. 539-553.
Hayes, R. (2011), Consequences of compassion: an interpretation and defense of Buddhist
ethics, Journal of Buddhist Ethics, Vol. 18, pp. 389-395.
Mathew, M. and Kumar, R. (2005), Poor change preparedness in Indian business culture: a need
for periodic Indian business culture surveys, The Journal of Business Perspectives, Vol. 9
No. 1, pp. 1-9.
Rao, C. and Dhar, B. (2011), Indias FDI Inflows: Trends and Concepts, Research and Information
System for Developing Countries, and the Institute for Studies in Industrial Development
Publishing.
Rossouw, G. (1998), Establishing moral business culture in newly formed democracies, Journal
of Business Ethics, Vol. 17, pp. 1563-1571.
Vidal, N., Bull, G. and Kozak, R. (2010), Diffusion of corporate responsibility practices to
companies: the experience of the forest sector, Journal of Business Ethics, Vol. 94 No. 4,
pp. 553-567.
Wing, C. and Chen, Y. (2012), Corporate sustainable development: testing a new scale based on
the mainland Chinese, Journal of Business Ethics, Vol. 105 No. 4, pp. 519-533.

Corresponding author
Dr Ron Berger can be contacted at: ron@sigma-pcm.co.il

To purchase reprints of this article please e-mail: reprints@emeraldinsight.com


Or visit our web site for further details: www.emeraldinsight.com/reprints
This article has been cited by:

1. Subramaniam Ananthram, Christopher Chan. 2016. Religiosity, spirituality and ethical decision-making:
Perspectives from executives in Indian multinational enterprises. Asia Pacific Journal of Management 33:3,
843-880. [CrossRef]
2. Vesna Milicevic, Adam Sofronijevic, Gordana Milosavljevic. 2016. Contemporary Indian Management
Practices in the Dynamic Emerging Market Economy. Management - Journal for theory and practice of
management 21:78, 11-24. [CrossRef]
3. Neha Verma Department of Management, Central University of Rajasthan, Kishangarh Ajmer, India.
Downloaded by Universitas Islam Negeri Maulana Malik Ibrahim, UIN Maliki At 20:24 22 March 2017 (PT)

Santosh Rangnekar Department of Management Studies, Indian Institute of Technology, Roorkee, India. .
2015. General decision making style: evidence from India. South Asian Journal of Global Business Research
4:1, 85-109. [Abstract] [Full Text] [PDF]

Vous aimerez peut-être aussi