Management Lessons from Indian Epics in Context to Theory Z

Abstract

The lacunae of Theory X and Theory Y compounded with insufficient research evidence in favour of these theories resulted in the proposition of Theory Z. It is a beautiful amalgamation of both Theory X and Y and has enough empirical evidence to support it. It is easily deduced that most of the successful firms share some common characteristics, which are untouched by geographical boundaries of nations. Theory Z has great relevance in the Indian scenario, as it is a culmination of both American and Japanese cultures. India interestingly has a national culture, which is also a blend of both types of characteristics. This study draws from ethics related literature from ancient Indian scriptures to demonstrate the points of convergence and divergence between Theory Z and the Indian management approach. It also tries to emphasize the applicability of the old phenomenon in the light of new changes in the corporate world.