The ancient Buddhist philosophy believes in the eightfold path to leading a lie, which helps to transform ourselves into understanding the world better. The teachings follow the non-linear way of inner exploration of oneself and the surroundings around you. These tenets also apply to business, and management schools worldwide found how effectively to teach future business leaders about navigating the path to success righteously.
Let’s look into why Buddhism has one of the best ideological relatability with the corporate world:
These interpretations from the Buddhist philosophy are solely from the perspective of being receptive to the learnings and their applications to the corporate sector. The views mentioned in the blog are only informational and do not have data backing.
Corporate Lessons from Buddhism
- Having the right intention
Lesson: When doing business, beginning with the right intentions, as per the Buddhist philosophy, will help. Thinking solely about profit and not about the customers will not be the right way for the business to continue. In the long run, this attitude will diminish the brand’s goodwill, and customers will not trust your product or service. Working with the right intention will build a loyal customer base.
- Taking the right action
Lesson: Understand the issues customers face and respond to them. Ensure you don’t neglect feedback from employees working for you and your customers. When you work on them, assuring them regularly during the process that resolution is being sought, you will find that you have built trust with your actions, which is part of the Buddhist philosophy that businesses can imbibe.
- Having mindfulness
Lesson: Focusing on the present and not being stressed about the future will help you make better business decisions. However, business houses work on predictions and forecasts to run business. That is the reason for applying the Buddhist philosophy and getting the leaders to use mindfulness to deal with current situations, which will determine the future.
- Putting right effort
Lesson: Every task needs the right amount of effort for it to succeed. When you start, you want the business to grow and succeed. The right amount of effort has to be put in to fulfill the goal you set out to complete, making it an integral part of Buddhist teachings that every management trainee and business head can take home.
- Having the right perspective (view)
Lesson: Businesses work on targets, profits and growth. A business leader’s visions for the company and building on the brand philosophy while keeping in mind the interest of his employees, customers etc., brings in perspective, making the business a legacy to uphold. The views that the leader holds have a definite impact on the business, and having the right view is what teaching from the Buddhist faith can help achieve.
- Knowing what to put out (right speech)
Lesson: Any kind of information coming from the business house or the person heading it should not hurt the sentiments of the people. Understanding the ethical standing when running a business is vital. What we speak and pass on can impact several lives. The core nature of information should be to benefit others, not harm anyone, which is what we can take from the tenets of Buddhism.
- Being ethically aware (right livelihood)
Lesson: Doing the right kind of business, not venturing into something that is endangering lives or unethical. Create a business aligning with your goals and serving people while improving their lives. In this case, picking the right livelihood or business you start is what philosophy suggests makes up for the intentions and the actions you will take further. All the other tenets actually apply here as well.
- Setting the right goals (right concentration)
Lesson: Aiming higher is not a bad idea, but harming someone or their interests along the way to achieve your goals may not be right. Setting goals that plan to make a difference to several people, making them become enablers to help achieve your goals. The right focus or concentration in the right direction is vital, as per the teachings of Buddhism.
Business success need not be through manipulations and misappropriation, but through rightful actions, intentions, and holding honesty and the best interests of people can achieve goals ethically. Hope you liked the Corporate Lessons from Buddhism blog post.