The idea of ethical corporate governance is based on the equity principle, which aims to strike a balance between the interests of the business, its stakeholders, lenders, suppliers, government, and shareholders, and the community at large. In order to ensure ...
Buddhism is a non-theistic religion (no belief in a creator god), also considered as a philosophy and a moral discipline, which originated in India in the 6th and 5th centuries BCE. It was founded by the sage Siddhartha Gautama (the Buddha). Renowned for their wisdom, intelligence, and patience, theRead more
Buddhism is a non-theistic religion (no belief in a creator god), also considered as a philosophy and a moral discipline, which originated in India in the 6th and 5th centuries BCE. It was founded by the sage Siddhartha Gautama (the Buddha). Renowned for their wisdom, intelligence, and patience, the elephant is considered as a vital part of the Buddhist faith, as given below:
- Buddha as an elephant in earlier lives: It is believed that before being reincarnated in human form, Buddha lived as an elephant, and thus elephants are considered as sacred in Buddhism.
- Buddha as white elephant: After a white elephant appeared in the dream of Queen Maya, she believed that her pregnancy and birth to Siddhartha were because of the same white elephant.
- The Lotus Sutra: It is a sacred scripture of Buddhism which describes the elephant as “meditating” and “utterly composed.” It relates Buddhist values to the elephant’s physical attributes as follows:
- Dhamma is in his belly.
- The tusks represent “equanimity.”
- The large head represents “careful consideration.”
- The tail represents “solitude.”
- Representing meditation: Because elephants are so wise, many Buddhists believe elephant symbols can evoke “a clear state of mind” pursued through meditation.
This importance given to elephants in Buddhist faith explains their prominence in Buddhist sculpture as highlighted below:
- Bodhisattvas on elephants: In Buddhist sculpture, bodhisattvas are often represented as sitting on an elephant, which symbolises “knowledge brings power.”
- As part of the lion capital: An elephant along with a bull, a horse, and a lion have been decorated on a round abacus, altering four Dharmachakras or wheels of law on the monolithic lion capital found at Sarnath.
- Rock-cut elephant at Dhauli: It is the earliest Buddhist sculpture of Odisha, constructed by Ashoka. The sculpture looked like “the fore half of an elephant” emerging from hill-rock.
- Taming of Nalagiri’s sculpture at Amaravati: It is a masterly representation of a scene showing the subjugation or taming of Nalagiri, a mad elephant let loose on the Buddha in the streets of Rajagriha.
- Elephants crowning the pillars: In Karle caves, Dampati and the Mithuna figures are shown as the pairs riding the magnificent elephants crowning the pillars.
In this way, various scriptures describe Buddha as the epitome of an elephant-calm, poised, and alert. Though earlier Buddhist art represented him through various symbols, Mahayana Buddhism started portraying Buddha in human form.
See less
Ethical corporate governance refers to processes and policies deployed by a company or organisation to deal with the day-to-day businesses, ensure a balance between profit making and service delivery without venturing into unethical practices. It is based on the principle of balance of equity, whichRead more
Ethical corporate governance refers to processes and policies deployed by a company or organisation to deal with the day-to-day businesses, ensure a balance between profit making and service delivery without venturing into unethical practices.
It is based on the principle of balance of equity, which recognizes that an organization’s responsibility extends beyond maximizing value for the shareholders. It considers the interests and rights of all stakeholders including the community as large and aims to ensure their fair treatment and consideration in decision-making processes.
In this context, following values play a central role in ensuring ethical corporate governance:
India has witnessed multiple corporate scams like Harshad Mehta Scandal, Satyam scam, and Sahara Scam. They highlight the need for stronger regulatory oversight, improved corporate governance, and increased accountability to detect and prevent such fraudulent activities.
See less