Religious Ethics and Socially Responsible Behaviors of Small Firms
Applications of an eastern philosophy
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Exploration on moral or ethical managerial behavior has become imperative to generate discussion on solving social and economic problems of the society while encouraging business people to make profit from their businesses. This study explored the extent of fulfillment of responsibilities as prescribed by religious values in the consumptions, business practices and uses of wealth using Hindu's and Buddhist's principles of business ethics by small firm owners. The research began with review of literature on Hindu (Vedic) and Buddhist principles. A survey on 300 respondents found that owners of ...
Exploration on moral or ethical managerial behavior has become imperative to generate discussion on solving social and economic problems of the society while encouraging business people to make profit from their businesses. This study explored the extent of fulfillment of responsibilities as prescribed by religious values in the consumptions, business practices and uses of wealth using Hindu's and Buddhist's principles of business ethics by small firm owners. The research began with review of literature on Hindu (Vedic) and Buddhist principles. A survey on 300 respondents found that owners of small firms have positive attitude towards pursuing the religious principles of modest consumptions and religiously accepted business practices. However, they were found to be inclined to crave for wealth maximization especially when they grow larger through promoting materialistic values on customers. They use their wealth to nurture self and their family, but give fewer priorities in contributing to employee welfare and environment conservation. This research has managerial implications on promotion of business ethics and social responsibilities in Nepal.
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