Title: The Yagna Spirit - new age business dynamism

Authors: J. Chandrasekhar; Avinash Shivdas

Addresses: Amrita University, Amritapuri Campus, Clappana P.O., Kollam, Kerala State, 690525, India ' Amrita School of Business, Amrita University, Amritapuri Campus, Clappana P.O., Kollam, Kerala State, 690525, India

Abstract: New paradigms of doing business are evolving as the world is struggling with a financial crisis. It has become a compelling need for business enterprises to explore innovative solutions to overcome this crisis. The voluntary organisations are establishing social businesses as corporate entities and are embracing social responsibility projects. The distance between philanthropy and business is being substantially reduced. The emerging success stories of new age business entrepreneurship reveal the insights expressed in ancient Indian literature, which has struck deep roots in Indian ethos - the Yagna Spirit, which is becoming a new age business dynamism. 1) This paper discusses the concept of Yagna from the entrepreneurial perspective and makes an attempt to develop the core philosophy of Yagna Entrepreneurship; 2) It elucidates the traits of Yagna Entrepreneurs and traditional business practices influenced by the spirit of Yagna in the contemporary business context.

Keywords: entrepreneurship; Yagna; Yajna; corporate social responsibility; CSR; Indian management; Bhagavad Gita; new age business; management innovation; Indian ethos; bottom of pyramid; India.

DOI: 10.1504/IJBEM.2014.058248

International Journal of Business and Emerging Markets, 2014 Vol.6 No.1, pp.34 - 53

Received: 16 Nov 2012
Accepted: 22 Jun 2013
Published online: 16 Jun 2014 *

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