Prelims

Business Management and Ethics

Business Management and Ethics: Insights from Indian Ethos

Edited by

P. Mary Jeyanthi

Jaipuria Institute of Management, Jaipur, India

Niranjan Rajpurohit

National Law University, Jodhpur, India

And

Dieu Hack-Polay

Crandall University, Canada; University of Lincoln, UK

United Kingdom – North America – Japan – India – Malaysia – China

Emerald Publishing Limited

Emerald Publishing, Floor 5, Northspring, 21-23 Wellington Street, Leeds LS1 4DL

First edition 2025

Editorial matter and selection © 2025 P. Mary Jeyanthi, Niranjan Rajpurohit and Dieu Hack-Polay.

Individual chapters © 2025 The authors.

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ISBN: 978-1-83549-255-0 (Print)

ISBN: 978-1-83549-254-3 (Online)

ISBN: 978-1-83549-256-7 (Epub)

Dr P. Mary Jeyanthi is a Business Analytics Professor at Jaipuria Institute of Management, Jaipur. She brings a wealth of expertise as a Data Science professional in the banking sector, with significant skills and experience in Business Intelligence, metaheuristic algorithms, and a strong passion for mentoring to foster a knowledge-rich and self-disciplined environment. Her research acumen spans diverse fields, including AI/ML, Blockchain, Generative AI, Business Intelligence and decision-making, Business Analytics, Data Analytics, Digital Transformation, Data Governance, Cybersecurity, and FinTech. With a decade of industry experience at HDFC Bank Ltd.’s Business Intelligence Unit in Chennai, Tamil Nadu, she has honed her proficiency in Business Intelligence and forecasting analytics. Dr Jeyanthi’s research, titled “A New Implementation of Mathematical Models with Metaheuristic Algorithms for Business Intelligence”, underscores her innovative approach to solving complex business challenges.

Dr Niranjan Rajpurohit is currently working as an Associate Professor in the Faculty of Management at National Law University, Jodhpur. He has extensive experience in both industry and academia. During his tenure at the School of Business Management, NMIMS Indore, he also taught ‘Indian Ethos and Business Ethics’ to MBA students. During his 6-year tenure at BHEL, a Maharatna PSU, in the Group-A executive cadre, he managed a wide range of HR, IR, and CSR activities while working in different plants and offices across India. He received the ‘InsideIIM's Professor of the Year’ recognition in both 2020 and 2021, an achievement he deeply cherishes. His consultancy assignments and MDPs have encompassed large organizations such as Indore Smart City Dev. Ltd., AU Small Finance Bank, Canara Bank, A-One Products, Wonder Home Finance, and BPCL. He has also served as a Subject Matter Expert for AICTE’s SLA project.

Dieu Hack-Polay is a Professor in Organizational Studies at Crandall University (Canada) and Lincoln International Business School, University of Lincoln (UK). He worked for several years in various sectors of activity including the voluntary sector and local government as a human resources and training practitioner in the United Kingdom. He also has several years of experience as an academic. He worked for various institutions internationally. He obtained his PhD in Sociology at the University of Surrey, UK. His research focuses on migrant workers and expatriates. He has published several books and journal articles in leading international journals.

Anitha K. is the Head of the Department of Management Studies at Meenakshi Academy of Higher Education and Research (MAHER), India. She qualified for the UGC NET in Management and HRM in 2014. Her research focuses on AI applications in HRM, marketing, and sustainability. She has contributed to several book chapters published by prominent publishers like Springer, Taylor & Francis, CRC Press, Nova Science Publishers, and IGI Global. She has 6 years of teaching and 4 years of industry experience and regularly presents at conferences, consistently winning Best Paper awards. She authored a book and is the editor of the upcoming publication “Fintech Innovation – Practise and Progress in AI and ML Techniques for Finance” by Bentham Science Publishers. A Life Member of ERDA, she also serves as a resource person for faculty development programs and guest lectures. At MAHER, she is the Placement Officer and Assistant Director of Online Education.

S.A. Thameemul Ansari is a University Teacher by profession. His research areas include discourse studies, human rights and literature, cross cultural communication, business communication, issues in interpretation, culture dialogue, critical studies, and second language education. The books that he has authored are An Interpretative Discourse on the Concept of Freedom, Dimensions in Discourse: Elementary to Essentials, Perspectives in Post Modernism: A Terminological Debate, A Study on the Language of Resistance and Rebellion and Paradoxes in Scattered Reflections. He is currently serving as a Professor at School of Liberal Arts and Sciences, Mohan Babu University, Tirupathi. Andhra Pradesh.

B.S. Arjun is an Assistant Professor at the School of Business and Management, CHRIST (Deemed to be University) in Bengaluru. He has 12 years of teaching experience in graduate and postgraduate levels and one year of industry experience. He has done his doctoral degree from Bharathiar University, Coimbatore. His areas of specialization are finance and taxation. He has presented many research papers in national and international conferences and won three best research paper awards and has published research work in Scopus-indexed journals. His current research interests include risk management, derivatives, volatility measurement, ESG investing, and sustainable finance. He has cleared SEBI approved NISM Equity Derivatives Certification Examination and is pursuing Investment Operations Certificate (IOC) offered by CISI, UK. He has conducted national-level workshops and training sessions on investment management, derivatives, financial risk management, tax planning, filing income tax returns, SPSS, and EViews (Econometrics).

Arshdeep is an Assistant Professor of Commerce at MCM DAV College for Women, Chandigarh. With a Master's degree in Management, she received her PhD (Business Management and Commerce) from the Panjab University, Chandigarh. Her research interests include investment management, financial services, human resource management, and organization behavior.

Asmabi K.K. is a Research Scholar, School of Management Studies, Cochin University of Science and Technology. She is a pioneer in the field of research and has completed her Master's in Psychology from Central University of Punjab. She has contributed to the Journal of Indian Association of Clinical Psychologists with her publication titled 'Extraversion, Neuroticism, Religiosity, and Self-perceived effects of Pornography Consumption among Young Adults of Kerala, India'. She is very enthusiastic and energetic in the field of research and interested in the domain areas of personality, spirituality, existential psychology, leadership, and environmental psychology.

Prashant Ramesh Dhage received his Bachelor of Arts (BA), Master of Arts (MA in History), and PhD from Rashtrasant Tukdoji Maharaj Nagpur University, Nagpur, Maharashtra. Dr Prashant's research interests include regional and local history throughout India's colonial period, as well as the contributions of political leaders, business groups, and social reformers in the Vidarbha region of Maharashtra. The research evaluated creative means of the movement against foreign domination, their policies and culture, as well as their impact on society and intensified the waves of nationalism in India.

Indrajit Ghosal is an Associate Professor and Research Coordinator at Brainware University, Kolkata, India, in the Department of Management. He earned his PhD in Online Marketing (Management) in 2020 and FRPM in 2017. With over 16 years of teaching experience, he has published 65 research papers in renowned journals such as ABDC, ABS, Scopus, and WOS, along with six patents. Dr Ghosal has presented papers at 36 international and seven national conferences, as well as four case studies. He has authored six books and edited nine forthcoming publications with notable publishers like Taylor & Francis, Emerald, Wiley, and Routledge. Additionally, he has published eight book chapters. Currently, he is supervising three PhD scholars and has successfully guided four MPhil scholars. As a keynote speaker and resource person, he has been invited to 30 conferences and workshops. His research interests include digital marketing, consumer behavior, online marketing, entrepreneurship, and e-commerce.

Aditee Anand Godbole is a permanent faculty at Symbiosis Law School, Nagpur, who has completed PhD from RTM Nagpur University, Nagpur, in Competition Law. Her area of research is inclusive of, but not limited to, commercial law, corporate law, competition law, and constitutional law. Her previous publications include research articles in Russian Law Journal, Journal of Critical Review, and Journal of Arts, Humanities and Social Sciences, an international multidisciplinary quarterly bilingual peer-reviewed journal and Shodh Sanchar. She has also contributed a book chapter titled "Feminism: A Concept Misconceived” in Women, Law And Society, a book published by Victorious Publishers India (National Publisher) and another book chapter titled “International Humanitarian Law And the Challenges of Counter Terrorism” in International Humanitarian Law: A reflection on 70 years of Geneva Conventions 1949 published by Satyam Books Pvt. Ltd.

Mohammad Irfan is an Associate Professor at the School of Business and Management, Christ University, Lavasa, Pune, India. He earned his PhD from the Central University of Haryana and holds an MBA in Finance, an MCom in Accounts and Law, and an MA in Economics. He has also qualified for UGC-JRF/SRF/NET in Management and Commerce and holds certifications from NSE (NCFM) and BSE. With over 16 years of experience, Dr Irfan specializes in SAPM, AI, machine learning, blockchain, cryptocurrency, financial engineering, fintech, green finance, and alternative finance. He has published over 40 Scopus-indexed articles in prestigious journals like The Journal of Economic Cooperation and Development, International Journal of Business Excellence, and Cogent Business & Management. His research has garnered 300+ citations with a 12 H-index. Dr Irfan has also authored seven books with Springer and IGI Global, all Scopus-indexed.

Kiran Jindal is an Assistant Professor of Commerce at MCM DAV College for Women, Chandigarh, India. She has more than 20 years of experience in teaching and research. Her areas of research are investment management, financial markets and services, derivatives, and corporate social responsibility.

Sonum Khajuria is an Assistant Professor in the School of Management at Atlas Skilltech University, Mumbai. She has over 3 years of teaching experience across the diverse cultures of Bangalore, Kashmir, Haryana, and Mumbai in the areas of Indian philosophy, English literature and business communication. She has published seven papers in reputed national and international journals and holds a rich research experience of 5 years on the topic: Exploring ‘meaning’ in select Mystic Poetry through Dhvani Siddhanta. Her areas of expertise include Indian poetics, poetry, mysticism, business English, and philosophy.

Lakshmi R.B. is an Assistant Professor at Christ University in Bangalore, known for her expertise in various areas. Her commitment to academic excellence is evident in her contribution to curriculum crafting. Dr Lakshmi organizes industry exchange programs, facilitates final placements, and orchestrates student internships. She is a lifelong learner, engaging in various national and international faculty development programs and publishing in UGC Care, Scopus-indexed, and ABDC journals. Her engagement transcends borders, coordinating international webinars, contacting students at premier institutes, and moderating panel discussions. As a recognized expert, she has served as a resource person for several faculty development programs and a national-level webinar on “Design thinking.” Her multifaceted contributions to academia have earned her the prestigious AVLG Women's Achievers Award, further solidifying her position as a trailblazer in Business and Management education.

Ritika Mahajan is a faculty member at the Department of Management Studies at MNIT Jaipur. She holds a PhD from IIT Roorkee as a UGC-sponsored fellow. Previously, she worked at TERI SAS and coordinated the MBA (Sustainability Management) program. She has been a Visiting Trainer at the Indian Institute of Coal Management and the Rajasthan Police Academy. She has taught as a Visiting Faculty at Shiv Nadar University, IIIT Lucknow, and the University of Delhi. She has completed GRI-certified training on sustainability reporting (2021) standards and delivered over 50 sessions in international and national programs.

Sarthak Mishra is a Research Scholar in Organizational Behavior and Human Resource Management at Sri Sri University, Cuttack, Odisha, India. His area of research is related to green human resource management. He has published three papers in reputed journals under Web of Science, UGC Care Listed, and Scopus-indexed category. In addition, one of his papers has been published as conference proceedings and another as a book chapter. He has also presented papers in various international and national conferences.

Smarty P. Mukundan is an Associate Professor at the School of Management Studies, Cochin University of Science and Technology, Kerala, India. She has over two decades experience as an academician, trainer, and HR consultant. She has authored numerous research publications in the fields of HR and OB, sustainability, and gender studies. These publications have been featured in both national and international journals, by prestigious publishers such as Emerald, Taylor & Francis, etc. She has coauthored a book called Data Analysis for Business Decisions using Excel, Bharti Publishers, India. Dr Smarty worked with the State Bank Institute of Leadership (SBIL) in Kolkata, which is an apex training institute for leadership of the State Bank of India. During her tenure there, she successfully trained over 2,500+ top-level management executives from both the public sector banking industry and the BFSI sector on various topics such as emotional intelligence, resonant leadership, crucial communications, and negotiations.

Nagarjuna G. is an Assistant Professor in the Department of Tourism Management, School of Business and Management, Bannerghatta Campus, Christ (Deemed to be University). His research interests include sustainable tourism, cultural and heritage tourism, education, and wildlife tourism. His doctoral research was on Sustainable Tourism Management: Issues and Challenges of Eco and Wildlife Resorts in Karnataka.

Sathish Pachiyappan is currently serving as an Assistant Professor at CHRIST (Deemed to be University), Bannerghatta Road Campus, Bengaluru. He has done his doctoral degree from VIT (Deemed to be University), Vellore. He has completed MBA from Anna University and BCom from SRM University, Chennai. Currently, as a part of his research work, he had published articles in peer-reviewed journals which includes Scopus-indexed journals, Web of Science indexed journals, Australian Business Deans Council (ABDC) listed journals, and EBSCO host journals. Also, he published book chapters in Elsevier, Emerald, Springer, and IGI global. He went as a resource person for various FDP, Guest Lecture, Session Chair for conference and workshop to various reputed colleges. He is well versed in handling Python, STATCRAFT, E-Views (Econometrics), SPSS for financial data analysis in research area. He is a gold medalist and earned first rank in BCom at SRM University, Chennai, and also earned class topper in MBA and 39th rank holder in Anna University.

Roopa Patavardhan is currently working as an Assistant Professor of Economics at the School of Social Sciences at Christ University (Bangalore, India). She is a passionate Teacher interested in exploring innovative methods for economics teaching. Dr Patavardhan holds a PhD in Economics from the University of Mysore and boasts a robust academic background with several merit scholarships since school. With experience as a Lecturer and an Assistant Professor at diverse institutions, her expertise lies in development economics, with a focus on labor, gender, and health economics. Driven by a passion for research, she has presented at numerous national and international conferences, with some of the works published in peer-reviewed journals, including her latest on the Brand Bengaluru, Populism, abortion laws, and female labor force participation. Beyond research, Dr Patavardhan is a dedicated educator, employing thought experiments and class engagement strategies. She also delivers insightful guest lectures, covering topics from gender segmentation in employment to exploring career opportunities in economics.

Shubhangi Rajawat is a Research Scholar pursuing her PhD at the Department of Management Studies, Malaviya National Institute of Technology Jaipur. Her research interests lie in corporate sustainability, sustainability reporting, and banking.

Gowri Shankar Ramachandran is an esteemed faculty member at the School of Business and Management at Christ University in Bangalore. He holds an MCom, MBA, and PhD and is an Assistant Professor in the Department of Business and Management. Dr Shankar's contributions to the institution and his field of expertise are significant, and he plays a crucial role in shaping future leaders in business and management. He has authored several articles and book chapters in Scopus-indexed journals. In addition to his impressive educational credentials and professional accomplishments, Dr Gowri Shankar Ramachandran is known for his passion as a Professor. He is deeply committed to helping his students learn and grow, and he takes great pride in seeing them succeed in and out of the classroom.

Namita Rath is an Associate Professor in Organizational Behavior and Human Resource Management at Sri Sri University, Cuttack, India. She did her PhD in Personnel Management Industrial Relations from Utkal University. She has teaching experience of over 17 years in business schools with Bachelor’s and Master's programs. She has published 26 papers in Scopus-indexed, UGC listed, and different peer-reviewed indexed journals and 11 book chapters along with three books to her credit. She presented papers in different national and international conferences. Her research interests include organizational behavior, industrial relations, and talent management. She is currently guiding three doctoral candidates.

Dr Janani Ravinagarajan is an Assistant Professor at Shiv Nadar University, Chennai. She holds a PhD in Finance from VIT, Chennai, with research focusing on arbitrage opportunities in algorithmic trading and other modes. With over 13 years of combined academic and corporate experience, she specializes in teaching Financial Accounting, Portfolio Management, and Risk Management. Dr Janani has published in Scopus and ABDC-indexed journals and is a recipient of the Raman Research Award. She also brings 6 years of corporate experience in securitization, portfolio management, and real estate underwriting.

Surya Rashmi Rawat is a distinguished academician and researcher affiliated to HPKV Business School, Central University of Himachal Pradesh, Dharamshala. With a Master's degree in International Business and a PhD in Green Marketing, her expertise lies in understanding consumer behavior toward various facets of contemporary fields in marketing. Her areas of interest include organizational behavior and Indian knowledge system including values and ethics. Prof Rawat has undertaken significant research projects funded by prestigious institutions like the EURASIA, Erasmus + program of the European Union, and the Indian Council of Social Science Research. Her dedication to academia extends to mentoring PhD and MPhil students, guiding them in their research endeavors. Prof Rawat's prolific publication record in reputable journals underscores her commitment to advancing knowledge in her field.

Nuzhat Fatima Rizvi is currently working in the Department of Humanities, in Symbiosis Law School, Nagpur. She has done her PhD in English from RTM Nagpur University. Her research interests include postcolonial literature, diaspora, migration, and culture studies.

Aditi Sharma is an esteemed academic and researcher who specializes in management, leadership, and organizational behavior. She currently serves as an Assistant Professor at HPKV Business School, School of Commerce and Management Studies, Central University of Himachal Pradesh. She holds a PhD in Management from Panjab University, Chandigarh, and an MBA from Himachal Pradesh University, Shimla. With over a decade of teaching experience, she has contributed significantly to the development of future business leaders. Dr Sharma's research interests are diverse and relevant, encompassing topics such as workplace behavior in healthcare and organizational culture and leadership dynamics.

Ruchi Sharma, PhD in Management from Himachal Pradesh University Shimla, serves as an Assistant Professor at HPKV Business School, SCMS, Central University of Himachal Pradesh. Formerly at the National Institute of Technology, Hamirpur, her expertise spans consumer behavior and general management. She has published many research articles in marketing in various national and international journals and presented research papers in the field of consumer behavior in national and international conferences. Dr Sharma's dedication to understanding consumer behavior dynamics underscores her role as a respected academic and researcher, contributing significantly to the field while imparting valuable knowledge to students.

Mylavaram Chandra Shekar is an Associate Professor at the Institute of Public Enterprises Hyderabad. He writes frequently for The Journal of Management Accountants and Forbes India. As an academic and thought leader, he writes essays for Business Line and The Financial Express. Due to his accounting, corporate finance, and financial modeling expertise, Shekar's teaching and research on Indian start-ups and corporate finance are innovative. His impressive resume includes work at NIIT University and the Indian School of Business, Hyderabad. As a trainee academic associate at IIM Ahmadabad, he was groomed to teach and research in management.

Amit Shrivastava is a Professor of Accounting and Finance at the Jaipuria Institute of Management, Indore. He is a Visiting faculty member at IIM Kozhikode, IIM Indore, IIPH Gandhinagar, TISS Mumbai, and the Masters' Union. Previously, he was an Associate Professor at the Adani Institute of Infrastructure Management and an Assistant Professor of Finance at the SBM-NMIMS University, Mumbai campus. Amit was also an Academic Associate in Accounting and Finance at IIM Ahmedabad. He has conducted management development programs for senior executives at various renowned organizations, including TCS, IOCL, NOVARTIS India, HOWE India, Ahmedabad Municipal Corporation, Sardar Sarovar Narmada Nigam Ltd., and several ADANI group companies.

Rushina Singhi is an Associate Professor at School of Mathematics, Applied Statistics and Analytics, Narsee Monjee Institute of Management Studies. She has more than 19 years of experience in teaching, research, and corporate training. Her areas of research are business analytics, operation management, operation research, healthcare management, spirituality, and management.

K. Sreshta Rebecca is a banking professional in the Mortgage industry, working as an Assistant Manager with HDFC Bank Limited, India. She has pursued a Master in Business Administration (MBA) in Banking, Insurance, and Financial Service and a Bachelor of Engineering (BE) with a specialization in computer science and engineering. She is interested in writing for journals and business newspapers, with one notable contribution to Sustainable Accounting Practices published by Taylor and Francis.

Anubha Srivastava is a proven academician, researcher, and corporate leader who is working as an Associate Professor (Accounting and Finance) at Christ University Bangalore, India. In the past, she has worked as a Visiting Faculty (Accounting) at Universitas Diponegoro (International Division) and UNESS University Semarang, Indonesia. During the last 13+ years, she performed a key role in academic and training institutions in Indonesia, India, and Africa. Her research areas are value relevance, IFRS, capital market, banking, corporate finance, option pricing, etc.

Binoy Thomas, currently serving as an Assistant Professor and Research Coordinator at Sahrdaya Institute of Management Studies, Thrissur Kerala, brings a wealth of academic experience, with nine years of teaching and three years of research experience. Holding a doctoral degree from VIT Vellore, his research primarily focuses on developmental economics and behavioral finance. His dedication to research is underscored by his publications in peer-reviewed reputable journals, comprising five Scopus-indexed and two ABDC-listed publications. He actively fosters a global perspective among students through participation in various academic conferences, seminars, and workshops nationally and internationally. Moreover, he enhances his expertise through participation in various FDPs and workshops and serves as a resource person for academic activities. His academic journey is distinguished by achievements including recognition as the University Topper and Gold Medalist in Bachelor Degree, and receiving a Research Award from VIT Vellore for outstanding publications and scholarly contributions.

The book brings together a collection of chapters that provide insights from Indian ethos, applicable to present-day management issues and challenges. The book will help the readers in making effective decisions, driven by values and ethics. In a world where ethical management and leadership are increasingly advocated in practice and academia, this book emerges at an opportune time to fill a significant gap. The topic of Indian ethos and values in management is being given a lot of thrust by NEP 2020 and bodies like AICTE and UGC. It is a new topic, and there are not many books on this theme. With the rise of India as a global economic and power house, many of the lessons emerging from this book can be drawn upon in many other contexts, particularly developing economies.

The book draws from the wisdom available in ancient Indian scriptures and philosophies, which can act as guides for students and future managers in decision-making. Specifically, these insights will enable them in exercising discretion and managing teams in a VUCA and BANI world. The book also provides insights in aligning modern-day management education with more holistic and eastern perspectives, thus making it suitable for Indian context. The book will aid character building of students and practicing managers, helping them resolve dilemmas that they can encounter in day-to-day lives.

While the subject of Indian Ethos in Management has been introduced in several B-schools, there is a dearth of books on the subject that can be referred by students. This new book will bring together key aspect in a single volume, thus addressing ethics issues holistically. The book is a collection of chapters which are directly related to the subject and can be used by teachers, students, and scholars alike. Some of the key features of the book are focus on management lessons from the Indian scriptures, Indian philosophies and approaches to ethical dilemmas, a holistic approach to the integration of business ethics and management.

This new book is relevant to many different disciplines including management, international business, sociology, cultural studies, and education, to name a few. The contents directly cover topics from course outlines of many B schools, bringing together in a single book key perspectives in Indian ethical management. Our publication can act as a reference book for courses on Indian Ethos and Business Ethics running in B schools in India and abroad.

The fluid structure of the book makes it an easy read. The introduction contextualizes Indian Ethos and Business Ethics. This is followed by a series of chapters that focus on the Historical and Cultural Context of Indian Ethos and Business Ethics and its application to various social domains including business ethics, leadership, marketing and advertising, human resource management in Indian companies, sustainability, and cross-cultural business communication. These applications are also discussed in relation with the growing influence of globalization.

As we evaluate the reception of this first edition and prepare for future editions, feedback from our valued readership is welcome. We wish you a pleasant journey into this novel and provocative text.

The Editors