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Purushartha Journal
Integrating Sustainability With Corporate Strategy To Enhance Organizational Performance

Vir Ved Ratna, Associate Professor, Jaipuria Institute of Management, Lucknow, India

The purpose of this study is to review and analyze the sustainability practices performed by the organizations so as to enhance their performance and retain their place in the competitive environment. The study will also critically examine the reasons behind the adoption of corporate sustainable practices by Indian organizations. Further, the scope and benefits of the integration of the traditional Indian values in the corporate sustainable strategies have been explored along with the contribution of the sustainable corporate practices in the betterment of the environment. To attain the stated objectives, the current literature in the said study domain has been critically appraised. The study reveals confounding results, where it is found that the fundamental factor that forced the corporates to integrate sustainable practices in their processes is the pressure from the government and the local community prevailing in the place where the organization is operational. This review offers valuable areas which can be further pursued by academicians in the present domain of research.

Keywords: Corporate strategy, Corporate sustainability, Indian traditional values, Economic aspect, Social aspect, Environmental aspect
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Spirituality at Workplace: A Report from Ground Zero

M.R. Das , Ph. D. Scholar, Department of Management Studies, IIT, Dhanbad, India
Pramod Pathak, Professor, Department of Management Studies, IIT Dhanbad, India
Mohit Ranjan Das, Course Coordinator, Udacity, Bengaluru

The construct called Spirituality at Workplace (SAW) has now gained adulthood as it was conceived in the last decade of 20th century. The awareness and practice of the concept among the working world is found severely lagging the speed of scholars' research, discourses and conferences.

The paper has three purposes:

(i) Examine reasons for this lag through empirical research.
(ii) Suggest the way forward so that construct is conceived in its true sense and start delivering the greater good for the society at large & beget sustainable success for the corporate world.
(iii) Examine whether SAW is a leadership Competency.

Three sets of questionnaires were administered to 104 Indian executives across the industry. The first was aimed at gauging the awareness about the construct. The second one targeted to probe whether Spirituality at Workplace (SAW) is in practice without realizing that they are already practicing it ! A simple definition of SAW distilled from the extensive literature review was provided in the third questionnaire and then attempted to assess acceptability of the construct and also whether it is a desirable leadership competency.

Comparison of the feedback from first and third questionnaire revealed that it is basically lack of awareness of correct definition of the construct among the corporate citizens which is responsible for the poor perceived value and misunderstanding of SAW. Many myths like relatedness with religion are also found responsible for camouflaging the publicity and virtue of the construct. It was also observed that spirituality has already made inroads into the world of modern work clandestinely. The way forward to propagate SAW is suggested on the basis of results of the survey, expert opinions and literature review. The paper also discusses how a “pyramid of purpose” can be juxtaposed against the pyramid of Maslow's need hierarchy to provide a clear sense of levels of purpose to the corporate citizens and thus leverage and spread SAW for sustainable success in business world.

Keywords: Spirituality at Workplace (SAW), Competency, Purpose, Leadership.

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Socio Technical Systems of a Company: The Dimensionality of Socio Technical Systems
Lakshmaiah Botla, Assistant Professor, Symbiosis Institute of Business Management, Symbiosis International (Deemed University), Bangalore, India
Harigopal Kondur, President, Institute of Advanced Management Education and Entrepreneurship, Hyderabad.

Socio technical systems (STS) are to be designed as agile work systems that respond to environmental challenges and at the same time institutionalize organizational core functions that enable to create and sustain value in an organization. STS should spread its wings to institutionalize these functions/dimensions and provide cohesiveness among them to become adaptable to the demands of organization and environment simultaneously. The four dimensions of STS uncovered based on 'Human Goals Based Theory of the Firm (HGBTF)' are knowledge management, competitiveness, corporate entrepreneurship and HRM Practices. The exploratory research suggests that companies should develop and deploy STS to institutionalize these four dimensions for continuous learning, enhanced value proposition, consistent innovation, and employee development. Hence, all the successful companies consider STS as an organizational goal for holistic development, sustainability, and transformational change of organization. This article is a revised and expanded version of a paper entitled 'Socio Technical Systems of a Company: The Dimensionality of Socio Technical Systems', presented at Fifteenth Global Conference on Flexible Systems Management, Symbiosis Institute of Technology (SIT), Pune, India, Oct 23-25, 2015

Keywords: Socio technical systems, knowledge management, competitiveness, corporate entrepreneurship, HRM practices, human goals based theory of the firm

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Determinants of Mutual Funds Investment Intentions: Big Five Personality Dimension
Sachit Paliwal, Assistant Professor, ADDOE, Amity University Noida, India
Shraddha Bhadauria , Assistant Professor, GLA University, Mathura, India
Subhash Pratap Singh, Assistant Professor, Rajiv Gandhi South Campus, Banaras Hindu University, India

Over the past several decades the behaviours of investors have been the focal point of many researchers to understand the psychological antecedents for investment decision. This paper attempts to examine the impact of specific personality traits on investment intentions to purchase mutual funds with specific focus on the Big Five personality taxonomy.


To scrutinize the specific personality predictors, this study employs the multiple regression using theory of planned behaviour (TPB).


The research indicated that individuals who are extraverted intend to engage in mutual fund investment, while those who are higher in neuroticism less intended to engage in this activity. In addition to this, Individuals who are higher on agreeableness are also intended to engage in mutual fund investment.

Managerial Implications:

The study will aid mutual fund providers to manage the portfolio of mutual fund according to investors' personality traits.

Scope for further research / Limitation:

Due to time constraints, the study is confined to Delhi-NCR only. The study can considered as a pilot study and could be further explored to more cities in India.

Keywords: Mutual Funds, Big Five Personality, Theory of Planned Behaviour, Investment Intention
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Analyzing the Association of Intrinsic Factors of Motivation and Academic Performance of Teachers
Anju Tripathi, Assistant Professor, Department of Management Studies, JSS Academy of Technical Education, Noida, UP, India
Abhinav Priyadarshi Tripathi, Associate Professor, Department of Management Studies, IMS, Ghaziabad, U.P., India

Objective: Given the importance of intrinsic motivation factors of teachers, the objective of this paper is to define how far these intrinsic factors are associated with academic performance. The purpose is to find out the significance of intrinsic factors of teachers in their performance outcomes and to examine “In any manner is it contributing towards fulfillment of the objective of quality education?

Design/Methodology/Approach: The paper has a two part structure. The first part establishes the research theme with the help of qualitative literature. The second part fulfills the research objectives by utilizing statistical tools: Chi square test and Somers' D test.

Findings: The findings of the research clearly indicate that intrinsic motivation factors of teachers have an association with their academic performance. As per the results, among the three selected intrinsic motivation factors, creativity and self-efficacy factors have stronger association with performance as compared to personal vision factor of motivation.
Research limitations: In this research work, it is assumed that the external work environment is same as respondents are selected from different institutes of the same university but within the university there is a possibility of micro level dissimilarities. Another limitation is the possibility of biased responses of respondents.

Implications: The results focus on the importance of intrinsic motivation and suggest that the educational institutions should develop supportive environment in which teachers can utilize their inner attributes and contribute in the growth of quality education.

Originality/value: The research paper helps to the teachers, students and academic institutions by providing them a better understanding of intrinsic factors of motivation and academic performance as well as its significance in the development of quality education.

Keywords: Performance, Intrinsic motivation, Quality education, Institutions, Teachers.

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Managing the Era of Multi-Cultural Leadership
M. Rahul, Assistant Professor, Mittal School of Business, Lovely Professional University, Phagwara, Punjab, India
R. Ganesan Associate Professor, P.G. & Research Department of Commerce, D.G.Vaishnav College, Chennai, India

Leaders in the global arena are the one who face the challenges never seen before, while coordinating work and managing relationship between team members coming from varied ethnic groups. Globalization has undoubtedly opened up endless growth opportunities for both, businesses and individuals, by collaborating with each other, but with certain inherent challenges. These challenges are the difference in the cultural background of the team members, which gets predominantly reflected in their behavior at workplace too.

The cultural differences exist primarily due to differences in shared values, which form the basis for difference in perception and practices of decision making by an individual (Hofstede, 1980).

Juana Bordas has rightly described that any business that fails to adapt their leadership style aligning with multi-cultural approach will find it difficult to thrive in a more colorful world. Leadership style has witnessed various facets of changing work environment that has demanded from leaders to modify their approach to adapt along and be effective and survive in the ever-changing environment of business (Bordas, 2007).

A cross-culture leader plays a significant role in knitting the diverse workforce into an efficient team; which requires a leader to very well understand the various dimensions of culture. This understanding of the leader enables him to learn about blending of leadership styles to address the challenges of such work environment.
This paper is an extended work on 'Leadership in Cross-Cultural Environment – A Comparison of Asian and Non-Asian Managers' (Rahul & Ganesan, 2015). The extended research study has identified that enhanced work experience of cross-culture leaders enables them in effective team management, than the rise in designation, as it results in creation of hierarchical distance between the leaders and subordinates.

Keywords: Cross-culture leadership, Leadership (Challenges and Approaches)

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Teachings of Bhagavad Gita for Marketing
Dinesh Kumar, Chief Manager (HRM), Bank of Baroda, Lucknow, India
Jyotirmaya Mahapatra, Professor & Dean, Sri Sri University, Cuttack, India
Manoranjan Bhuyan, Research Scholar, KIIT School of Management (KSOM), Bhubaneswar

Contrary to the Indian philosophy of “Vasudhaiv Kutumbkam”, western design of management is based upon the Darwin's principle of the survival of the fittest which promoted the philosophy of 'dog eats dog'. Bulkiness of the bottom line of the balance sheet became the yardstick of the success of an organization and ethics, values and lifelong emotional bonding with people are pushed to the peripheral level where customers became 'consumer' and workers a 'hirable and replaceable commodity' and management professionals as 'tools to improvise the bottom line' without realizing that profit is not the sole motto as the purpose of organization is to create values to the society and profit is just a byproduct.

Ethics and values are different from rules/regulations because it provides criteria for evaluating action based upon certain desirable norms but has no legal binding. The management is expected to follow the highest ethical standards as management is not just accountable to shareholders but also responsible towards stake holders and responsibility of management professionals from public work cannot be veiled behind the professionalism. Moreover, the great organization cannot be created without values and ethics. Only those organizations can survive till eternity that follow highest standard of ethics, moral values and create values for the society.

It is difficult to accept that an organization follows highest standard of ethics, values and emotions in its internal management but can afford to remain low in ethical standards with customers. Organizations have realized the importance of ethics in marketing for the benefits in long term. Adoptions of ethical practices in marketing create positive energy in the organization and generate interest of the customer in products/services, develop customer confidence in organization's brand and leads to loyalty.

Keywords: Self-Management, Renunciation, Value-orientation, Stakeholders-orientation, Processorientation, Karma-yogi

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Yoga as an Innovative Solution for Financial Growth of Companies
Ipseeta Satpathy Professor, School of Management, KIIT University, Bhubaneswar
B. Chandra Mohan Patnaik Associate Professor, School of Management, KIIT University, Bhubaneswar
Chandrabhanu Das Assistant Professor, School of Management, KIIT University, Bhubaneswar

The existence of Yoga dates back to more than ten thousand years around India and all nations. The Hindu Mythology considers the genesis of Yoga by incorporating Lord Shiva as Guru and Goddess Parvati as Shishya. Gradually with the development of civilization mankind assessed the benefits of this spiritual discipline and different leaders propagated the Yoga in different ways.
In this era of 21st century Baba Ramdev propagated the yoga sutras with simple and effective techniques. The Pranayam and Suryanamaskar are the popular routines practiced by many followers of Baba Ramdev. Today Yoga is practiced as a way of Living to prevent Lifestyle diseases, combat stress and rejuvenate self. Yoga has gained immense popularity over the years with July 21st being celebrated as International Yoga Day.
Corporate are also now introducing Yoga for employees as a means to relieve their stress and improve productivity. Long Hours of sitting, standing and excessive use of electronic gadgets puts pressure on bones, joints and responsible for Lifestyle diseases. Yoga is now increasingly used as a wellness solution replacing high cost antibiotic drugs. Employee well-being leads to Cost Savings in terms of personnel by reduced payment of Insurance and Medical Bills.
The paper studies the Impact of Yoga to Financial benefits in MSME Organizations in Odisha in light of three different perspectives of Internal Control, Inventory management and Cash Flow. The primary data was collected from a sample of 155 high profile finance executives working in the MSME sector. Ranking Table and Regression Analysis Methodology was used to derive meaningful conclusions. The research takes initiative to transform the effectiveness of Yoga into improved financial health for the Organization. The observation from the study interprets a positive impact of Yoga on good financial health of Organization.

Key words- Yoga, Financial Health, Stress, Productivity

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Jagadguru Adi Shankaracharya – A Source of Learning Leadership Traits and Skills for Sustainable Management Practices
Bhavesh A. Kinkhabwala Doctoral Student, B.K. School of Business Management, Gujarat University, India
Ravi Gor Associate Professor, Department of Mathematics, Gujarat University, India

During the 8th century when a chaotic situation prevailed in the society, the very subsistence of the Hindu religion, culture and traditions were in peril and more proximate to vanish. At that time a great logician, a profound stalwart named Shankar, who left the world at an early age of 32, with an accolade of “Bhagwadpad Jagadguru Adi Shankaracharya” and referred as Adi Shankara or Shankaracharya brought a radical transmutation in the society. This paper attempts to study and develop an insight from the life, events, teachings, lineage and practices of “Jagadguru Shankaracharya” and drawing out the leadership traits, style and skills for sustainable management practices which is the need of an hour.

Key words- Leadership, Spirituality, Management, Shankaracharya

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