Relevance of Business Ethics of Jain Philosophy in Modern Corporate World

Followers of Jain philosophy practice five vows in their life per the choice (of limitations) of the practitioner. A layperson follows these vows patially, the vows are - (Non-violence), (Truthfulness), (Non-stealing), (Chastity), (Limited non-possessiveness). Absolute level of these vows is observed by saints and nuns in Jain sects. Limited level of these vows observed by a common household person is the focus of our study. If this micro system of a Jain laypersons life style is adopted by the mankind at macro level then the whole world may achieve the target of an economy of satisfied consumers through the path of managerial excellence. Some may object that (the concept of non- possessiveness) may stop the growth of businesses as it may bring the level of buying motivation down. While on the contrary non-possessiveness will make the economy produce useful products and services only. Modern business strategies are working towards consumerism which is giving birth to an unrest in the society.