Buddhism and Sustainability in the Contemporary Business World

Bangkok : Sustainability in the business world is essential for ensuring long-term economic viability while fostering social responsibility and minimizing environmental impact. The Academy for Global Business Advancement (AGBA), in collaboration with the Indian Institute of Management (IIM) Rohtak, successfully addressed these critical matters at the 20th World Conference, held in Bangkok, Thailand, from July 8 to 10, 2024. Academics resolved that Indian thought leadership in promoting the Buddhist way of life in promoting sustainability is the need of the hour. Sustainability is the most talked about topic for management researchers today. Academicians resolute that professors, scholars, and researchers must encourage sustainability in every sphere of business management. Given the rising catastrophes in the world on account of climate change and environmental degradation, it is important that business schools, in particular, and universities, in general, must encourage sustainable thoughts and practices to percolate into the student’s curriculum and student’s way of life.

Aligning with this focus, IIM Rohtak organized a panel discussion on “Buddhism and Sustainability: Examining India’s Role.” The panel, moderated by Professor Dheeraj Sharma, began with a discussion on the global catastrophe caused by neglecting sustainability, which has led to increased carbon footprints. Professor Sharma emphasized the urgent need for sustainable practices and highlighted the vital role of Buddhist values in fostering sustainable development. Dr. Ashwani Kumar highlighted Buddhism’s role in promoting sustainable practices and happiness. Further, Prof. Viput Ongaskul noted the changing nature of consumption patterns and the need for adaptable sustainability strategies. To this, Dr. Koustab Ghosh emphasized India’s historical significance as the epicenter of Buddhism and its global influence in exploring sustainability and development. Prof. Zafar U. Ahmed stressed on the urgency of adopting sustainable practices for future generations. Insights on Buddhism’s history and the importance of respecting all religions in pursuing global sustainability were provided by Dr. Ponchai Palawadhammo Pinyapong. The panelists unanimously called for prioritizing the Buddhist approach to foster a harmonious and sustainable world. Professor Sharma concluded by highlighting the right to repair and nonviolence, aligning sustainable practices with respect to all other living beings in the ecosystem.Bottom of Form

The event also featured various eminent speakers. Kyle S. Wells, Professor at Utah Tech University, USA, expressed his enthusiasm for the event and its objectives, appreciating the participation of representatives from 32 countries and nearly 500 research papers. Dana Lascu, Professor, University of Richmond, USA, also shared her enthusiasm for the event. The keynote address for the conference on “Business and Entrepreneurship Development in a
Globalized and Digitalized Era” was delivered by Professor Dheeraj Sharma, Director, IIM Rohtak. He emphasized on the concept of intellectual tourism and the economic growth of Asia, particularly India, in the post-COVID era. “Post-COVID, we have witnessed substantial economic success in India,” he remarked, inviting scholars worldwide to collaborate on research with Indian institutions. Professor Sharma also reiterated the importance of digitization in the digital era. Professor Sharma also highlighted the darker aspects of the digital era, including its impact on individuals’ attention spans and their ability to maintain prolonged concentration, which could challenge work ethic and skill development.

Other notable presenters at the conference included Kyle S. Wells, Former Dean of Utah Tech University (USA); Dana-Nicoleta Lascu, Professor at the University of Richmond (USA); Viput Ongaskul, Former Dean of the National Institute of Development Administration (Thailand); Gary L. Frankwick from the University of Texas (USA); and Abdul Razak Bin Ibrahim from the University of Melaka (Malaysia). The speakers addressed the significance of technology in overcoming academic challenges, the value of collaborative research, and the promotion of trade and communication. The event concluded with an award ceremony where the contributions of academicians and scholars from diverse research backgrounds were acknowledged. Several Faculty members and doctoral scholars from IIM Rohtak were also appreciated and awarded for their scholarly contribution.