(d) Indian wisdom indicates that Productivity of human being is more important than plant capacity.
Q.7. Enlist the various applications of Indian ethos.
Ans. The applications of Indian ethos are as follows:
- Attitude of the Management: This refers to the attitude of top management towards Indian ethics and values. Top management must have belief in value-oriented holistic management of business. The management must fulfil expectations of all stakeholders.
(b) Self Management: The manager should first learn to manage and control himself. Manager cannot control and manage others Without exercising self management.
(c) Meditation : Meditation helps to solve many complex problems of management and organisation demanding higher consciousness A dynamic meditation is a process of transforming of lower Consciousness into higher consciousness. The Indian ethos emphasizes on the concepts like sacrificing individual desires in favour of social benefits, preferring long term benefits over short term gains etc.
Q.8. Describe wealth management.
Ans. In case of owner-managed undertakings, the objectives of the firm and the owner coincide. In case of a joint stock company, the ordinary shareholders are its owners. They are the residual
Claimants of its profits and assets in case of its dissolution. They are also responsible for its losses to the extent of their shareholding. The dominant objective of a joint stock company is, therefore, to maximize wealth of its ordinary shareholders. Thus, the supreme objective of financial management is to maximize the wealth of its owners.
Q.9. Explain the term work life.
Ans. Work life is a management style and its practice. It is a work as worship and the customer as god himself. Values are treasure house. Such Indian tradition and heritage, its culture and philosophy, ethers and values are a treasure house, where the richest and the rarest of glans are stored.
Q.1O. Explain Indian values for the workplace.
Ans. “Human Values and Ethics in the workplace” is a capacity-building initiative developed in a collaborative effort between the Global Dharma Centre (GDC) and UN-HABITAT, within the framework of the Human Values Water, Sanitation and Hygiene Education (HVWSHE) Initiative of the Water for African/Asian Cities Programmers. The purpose of the capacity-building is to improve leadership and performance in very aspect of the water and education supply and sanitation sectors and to help bring about a new ethic in water use and management.