Till date we have been discussing Net profit and (Return on Investment) ROI. Why don’t we talk about “Shubh-Labh” (Goodness & benefit)? This implies that individual and corporate actions should be driven by the criterion of the overall benefit of the society. India ought to spread the relevance of Indian ethos, which laid down our milestones of success. Out of many ethos, ethical profits or “shubha labha” is one of the important notions and has been used by Indians from thousands of years. More research on this topic is invited.
“Shubh-Labh” (Goodness & benefit) is a notion to have profits after giving due to every stakeholder including employees. It can be best practiced by following the notion of "Trusteeship" given by Mahatma Gandhi.
But in the cut throat competition, businessmen follow the notion of maximum profit. There is great need to follow the notion “Shubh-Labh” (Goodness & benefit) means doing socially responsible business.
Dear Navita, I endorse the views of Prof. Subhash C. Kundu. While extending further, in my opinion, the symbol “Shubh-Labh” symbolizes the Indian tradition of "Spirituality and wholesome well-being of the society". It signifies that whatever could be be the business conditions, the profit earned should be through ethical business practices which should satisfy the monetary needs of not only the business house but also associated with the business directly or indirectly. The “Shubh-Labh” symbol also motivates the the owner to perform through ethical practices but irony of the fact is that now largely only symbol remains but practice is vanishing.
Thank you Sudev Naduvath, Subhash C. kundu and BK Punia for your relevant comments. Further I request to upload research papers/ articles/case studies or any other link to strengthen this theme.
'Shubh-labha' is certainly relevant in today's context and go well with overall objectives of business from 'Modern Thoughts of Management'.
'Shubh' may be linked with Sustainability and
'Labha' with Profitability.
Best Regards.
It also means those type of benefits (labh) which is good (shubh) for one and all. Indian system does not entertain to get benefits by harming/hurting others. Ancient times were of culture at the place of technology-driven money.
Meaning of Labha is earning through ethical practices (Shubha). It suggests a business owner to do the business in good (Shubh) ways and earn profit (Labha).
It also enumerate about social welfare. Therefore it is found to be significant in Indian Business System.
Well taking forth, it is perhaps the Indian business way of looking at CSR, Sustainable Competitive Advantage and Triple Bottom Line reporting.
To remain busy is business .The main end is to earn profit or gain by keeping in the mind that Honesty is the best policy even in the business.Earning is the financial gain & that is to be adored in the form of GODDESS LAXMI ,a symbol of prayer & puja in the business.
Custom or client accept their requirements from the businessman in a respectable mode by greeting each other by Uthering God name which become the symbolic effect mutually as SHUBHA
LABHA cannot be in the line with narrow margin of merely gain .It is a two way traffic .Gain for businessman & also for customer.It is a sign of his welfare to make him happy with his family & this is the symbol of LABHA .
This is my personal opinion .
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