A Comparative Study of Ancient Arthshashtra and Modern Management Concepts: Gap Analysis and Optimal Best Practices

Abstract

Most of the knowledge has been borrowed from the ancient Indian Knowledge Systems (IKS). The Bhagwat-Gita, Mahabharata and Arthshastra by Kautilya and all were very prominent. Even concepts of management and administration have been inculcated in sync with the principles and ideas. While talking about management, we cannot leave out the doctrine of Arthashastra. An intelligent text on the principles of economics and administration, Arthashastra was written in the 4th Century BC by a political philosopher named Kautilya. It consists of 15 Chapters, 380 Shlokas and 4968 Sutras it was the First ever ancient book, which contained the Principles of Management. As a minister and adviser to Chandragupt Maurya, Kautilya knew the concepts of management. Kautilya in the Arth-Shastra talks about virtues of leadership, honesty, hard work, and what an ideal leader should do, so that, the state is governed smoothly. He wanted to establish a machinery and operateit so that through it the King preserves integrity and solidity to maintain Power. Today’s modern management concepts and principles are also built on similar ideas There is a need for an efficient management system concept that improves the efficiency of companies in terms of time and cost resulting in achieving the goals of the organisation. Though the environment and Tachnology today is quite different and very advanced as compared to the ancient era, the Basics need not be ignored as the old theories have proven to be successful. In this Research paper, a comparative study is being done on Management concepts of Arthshastra and Modern Principles of Management. An attempt is being made to find the Gaps in current implementation in the corporate sector by making a comparative analysis of the two management concepts. Both Theories are correct in their own way and only gaps in implementation today have been explored with spme analysis and way forward. How/What improvements or Optimal solution are possible to enhance efficiency of corporate organisations have been covered at a high level.