Corporate Nirvana: The Buddhist way to social sustainability and business innovation

Author:

Sharma Daneshwar1,Sahoo Saumyaranjan1,Kumar Ashwani2ORCID,Huisingh Donald3,Sharma Dheeraj2

Affiliation:

1. Jaipuria Institute of Management Jaipur India

2. Indian Institute of Management Rohtak Rohtak India

3. Institute for a Secure and Sustainable Environment University of Tennessee Knoxville Tennessee USA

Abstract

AbstractPrevailing consumption‐based business models and capitalist practices place significant strain on the environment and society. Buddhism, as a practicing religion, may provide insights on practicing models as a solution to sustain society, the environment, and businesses. The present investigation adopts a structured literature review methodology to take stock of such prior studies and articulate its representation of Buddhism‐based business models, practices, ethical frameworks, and economic views. Based on the findings, it is clear that the prior studies have discussed the practitioner context of Buddhism religion in order to promote ethical and mindful business practices at the consumer, managerial, and business levels; to reduce the negative effects of identity politics in the workplace through spirituality; to introduce the idea of considering factors other than purely financial profitability; and to encourage the long‐term viability and genuine happiness of individuals, communities, and organizations. In relation to these topics, research avenues are proposed.

Publisher

Wiley

Subject

Management, Monitoring, Policy and Law,Strategy and Management,Geography, Planning and Development,Business and International Management

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