PGEMP : Batch 56

Group : 01
Case : Engaging and letting go with wisdom

1. Abdulkader Bengali :04

2. Narendra Jadhao :12
3. Rameshwar Pandey : 28
4. Abhishek Singh : 36
5. Uditmashree Singh :37
Part I:
Five misperceptions which have led to different wedges in the
socio-economic fabric of society

We are all, in essence, Economic Man (Material wants)

Humans are homo economicus, who are obsessed with our own self interest and intending to
maximize our personal gains
Corporations exist to maximize Shareholder Value (Benefits for Shareholders)
Shareholder value drives a wedge between those who create economic performance and those
who harvest its benefits
Corporations Require Heroic Leaders (Heroic Leadership)
Corporations believe that CEO alone is responsible for the corporates entire performance and
hence highly rewarded
The Effective Organization is Lean and Mean (Productive Efficiency)
Lean and mean organization are believed to offer lower costs, higher productivity and happier
customers
Everyone Prospers in the Selfish Economy (Economic Prosperity)
Economic prosperity benefits every section of society
Counter-arguments advanced by H. Mintzberg
that indicate the flawed nature of the half-truths

Material wants Vs Integrity and self Respect

For many people integrity and self respect are basic values
An inner sense of What is good is beyond material goods
Respect deeply rooted core values as against calculable gains

Benefits for Shareholders Vs Stakeholders

Focus on increasing the value of stakeholders as they are directly engaged with company operations and
customer requirement

Heroic Leadership Vs Engaging Leadership

Companies encouraging teamwork & taking the long term perspective

Productive Efficiency Vs Dissatisfied employees

Burned out managers and angry employees leads to lower efficiency and dissatisfied customers
Diminishing loyalty to employers

Economic Prosperity Vs Socio economic prosperity

Real prosperity combines economic development with social generosity
Part II: Passion - Main Idea

What is passion
Passion is strong inclination towards an activity which people love , value and feel that the
activity is a part of themselves.
It is not only about work and family life but also about what one likes for eg if one
wants to sing, play cricket.
Two types of Passion
Harmonious Passion
Under such passion, one will internalize the activity as our identity which can lead to a great experience & time
while doing the activity
Obsessive Passion
It may also internalize with your identity but it may give a boast of self esteem ; with such passion you will
undertake an activity not just for the love of the activity but you do it as it may lead you to be popular with your
friends

85% of people have passion but if you have harmonious passion, the outcome of
the activity will be positive
Part II: Passion - Main Idea

Optimum functioning in society (OFIS)

A person with harmonious passion will experience high level of physiological well-
being .
This will lead to a meaningful life ; growth as an individual with better physical
health, positive relationship, high level of performance and contribution to society
Passion & Motivation :
Passionate people are also highly motivated
People who are not passionate and has lack of motivation are not satisfied
How is it relevant & Appealing

Certain activities may appear to be positive. The critical point to be noted is

whether the activity is carried out harmoniously or obsessively.
Even an example of Yoga, which we perceive to be positive can give negative
outcome if carried out in an obsessive manner.
One should focus on harmonious passion
An activity should be internalized for love
Obsessive passion can lead to negative affect, conflict with other life
activities and psychological well being