IRJMST Vol 5 Issue 12 [Year 2014] ISSN 2250 – 1959 (0nline) 2348 – 9367 (Print) International Research Journal of Management Science & Technology http://www.irjmst.com Page 198 AN ANALYTICAL STUDY OF APPLICATION OF RAMAYANA IN BUSINESS MANAGEMENT Suresh Kumar Agarwal 1,a Dr. Amit K. Srivastav 2,b Department of Management 1,2 OPJS University, Churu (Rajasthan) Email Id: - a skagarwal5599@gmail.com , b srivastavdramit@gmail.com ABSTRACT Indian management thought based on Indian Ethos will not only help Indian organizations to become effective and globally competitive but has much to offer to the world in general. The present scenario indicates that unless the Indian management practices are blended with the Indian cultural ethos adequately, the corporate India may not be able to cope with the management challenges in the globalised milieu. There are many lessons to be learnt from our own traditions and the vast knowledge in the ancient “Dharmshastras” can enable us to adapt and Indianize the western techniques to our way of living. As a matter of fact, there exists a need to explore the Indian epics, scriptures and the literature for the managerial philosophy and thought. 1. INTRODUCTION India can justifiably boast of a long history of culture, tradition and values. Scriptures of the Indian origin are a treasure trove of nuggets of the wisdom. These continue to be relevant in the recent context and also find ready application in this field of business management and administration. Sticking to some core values which are steeped in the righteousness eventually leads to success. The main protagonist, Rama, is depicted in Ramayana as an epitome of the virtue. He is known as an ideal king, an ideal son and a pragmatic person. He sets high ethical standards in the warfare and invariably sides with dharma, or righteousness. Rama wages a war on Lanka with very limited resources, and the backed by an army which is pretty out- of-the-box or unconventional [1]. That is an army which is highly motivated, and expecting minimal facilities. Goes on to show the superiority of the motivation levels over the availability of the physical resources. A CEO who is out to increase his market share needs the back up of the highly motivated sales staff which if motivated well – will go all out to win the hearts and wallets of the company’s customers. Leadership in business should be applied from the Ramayana. With the doable exception of his handling of Sita upon her return from the Lanka [2], Rama conducts himself in an exemplary manner throughout