A Philosophical Study on the Relevance of Kautilya’s Arthaśāstra in Contemporary Organizational Management

Abstract

Kautilya has been credited as the author of the Arthaśāstra which is a treatise in political economy. The term ‘Artha’ cannot be merely translated as wealth because it includes the material wellbeing of the individuals. Dharma (moral behavior), Artha (wealth), Kāma (worldly pleasures) and Moksha (salvation) are considered to be the objectives of human life in the Indian society. Performing dharma means performing one’s duty to the best of their ability for the benefit of their spiritual wellbeing and of the whole world. This is a contemporary relevant concept in the field of management which is ‘doing duty to the best of the employee’s ability in order to achieve organizational goals. This study mainly focuses on the recruitment process, disciplinary standards, financial management (sources of revenue, budget, accounts, audit.), code of conduct, duties and obligations, law of contract, labour, bonded labour and slavery, rights of employees and the rights of employers that can be seen in the Arthaśāstra and a comparative analysis of the role of a ruler and the role of a manager will be performed. The research problem of this study is whether there are management implications can be used in modern organizational management. The objectives of the study are to identify the organizational management implications that are discussed in the Arthaśāstra and to apply them in the contemporary business world for its betterment.