Answer :
Consider Saxe's interpretation of the Indian legend. We can understand the message regarding both monetary and non-monetary advantages.
The benefits of strategic management are typically seen as both monetary and non-monetary advantages. A key duty of a board of directors is carried out via a strategic management process, which aids a business and its leadership in thinking about and making plans for the future. The organization's and its employees' direction is established by strategic management. Effective strategic management continuously prepares, monitors, and tests an organization's activities in contrast to static strategic plans, increasing operational effectiveness, market share, and profitability.
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Ancient Indian wisdom, as reflected in Saxe's poem, emphasizes the balance between wisdom and knowledge, ethical conduct, and the timing of actions in strategic management. Managers are encouraged to integrate these principles into modern business practices to achieve a harmonious and effective approach to decision-making and leadership.
The message or lesson that can be taken from Saxe's version of the Indian legend and applied to strategic management revolves around the importance of integrating wisdom with knowledge in leadership and decision-making processes. Reflective equilibrium suggests harmony between theory and practice, which implies that strategic management should continuously align strategic plans with actual organizational dynamics and situations on the ground. Moreover, insights from ancient Indian philosophies, such as the Sanatana Dharma, underscore the value of ethics and moral duties in management practices. The anecdotes from Indian epics and legends also illustrate principles like filial piety, sincerity, and the true nature of duty, all of which can enhance the moral foundation of strategic decision-making in modern businesses.
Applying Ancient Wisdom to Strategic Management
The teachings from the Indian legend and ancient texts can be distilled into strategic management principles. Learning from historical wisdom, managers can appreciate the significance of not just expanding their territorial dominance, akin to empire-building strategies, but also the importance of nurturing and effectively managing the resources within their present control. Wisdom from the texts urges strategic management to recognize the interconnectedness of actions and their consequences, as well as the importance of seizing the right timing for different actions, aligning with Kautilya's mandala theory. The lesson is clear: being strategic is not merely about being aggressive in expansion but also about being mindful of internal strengths, ethical considerations, and the larger ecosystem in which a business operates.
