Business ethics and spirituality for corporate sustainability: a Buddhism perspective

November 23, 2021 Siddhant Goyal

Date of Publication: Feb 05, 2019

Author: Suparak Suriyankietkaew & Pornkasem Kantamara

Summary:

Globally, ethical concerns principally focus on the need for business ethics as well as an emphasis on spiritual leadership to enhance long-term effectiveness and corporate sustainability. This paper responds to a call for further studies of business ethics and spirituality in workplaces and advances the currently limited knowledge in the realm, in particular, from an Eastern Buddhism perspective. Using a case study research approach, this paper investigates how a modern company can ethically and spiritually lead and manage a successful, sustainable business. A Buddhist-based philosophy of -œSufficiency Economy,- as advocated by United Nations Development Programme was used as the research framework to examine the philosophy’s ethical and spiritual application. The findings suggest that, to achieve long-term corporate sustainability, a successful business enterprise should embrace good ethical and spiritual values via ethics/morality, knowledge, moderation, reasonableness, resilience, compassion and care for its stakeholders. Implications, limitations and future research are discussed.

Link to Full Reading:

https://www.tandfonline.com/doi/full/10.1080/14766086.2019.1574598