Ancient pearls of common sense

Ancient pearls of common sense

John Arnold, Director, Ernst & Young Consulting
Chairman, British Chamber of Commerce, Jakarta

In the dusty pages of ancient philosophical and religious
manuscripts can be seen the development of the Asian
entrepreneurial spirit. During this economic crisis, it is
important to recognize that the spirit of entrepreneurship has
been deeply embedded in Asian culture for many centuries. It is
that spirit which has enabled Asian peoples to survive in
difficult times and is the reason why entire civilizations have
developed in periods of prosperity.

This is also why Indonesia needs to foster and encourage the
entrepreneurial talents of its people to pull itself out of the
current economic slump.

VV Ranganathan, the national director of the Ernst & Young
Entrepreneur of the Year award program in India, shares below
"pearls of wisdom" that have been passed down the ages but which
remain relevant to today's successful entrepreneurs.

The ancient writings are repositories of powerful thoughts.
The impregnable powers of logic and analysis and the attention to
detail in some of these works have baffled scholars and have
turned some of the most successful entrepreneurs into serious
students.

The books on Vedanta, one of the six orthodox systems of Hindu
philosophy, and ancient Indian classics are indeed a treasure
house. They can educate us on the laws of life and living and can
help us gain knowledge about our intrinsic Self.

Mention must be made of at least one of the most significant,
whose teachings have universal application even today.

One teacher and philosopher, Kautilya, born in India sometime
between 300 B.C. and 150 A.D. helped Chandragupta, a boy of royal
line who was raised by a cowherd, become the King of Magadha, now
a part of Bihar state in northeastern India. Kautilya, better
known as Chanakya, gave the young lad an education befitting a
king. Together they fought another king and won the kingdom for
Chandragupta.

Kautilya, who practiced all the tactics that he preached, is
the author of a practical work titled Arthashaastra, which means
the science of politics and, in its widest sense, the art of
running a government. It is the first known treatise on
government and economy. The book's philosophy is that promotion
of the welfare of one's subjects leads to wealth, which in turn
helps enlarge the empire. Kautilya wrote, "The source of the
livelihood of men is wealth." So all you entrepreneurs and wealth
creators, lay your hands on this great work and draw inspiration!

His work deals with a host of topics -- adversity, calamity,
succession, self control, duty, security, conspiracy, service,
organizational structure, customers, planning, budgets, accounts,
audits, treasury, revenue, financial rules, penalties and
punishments, trade and transport, laws, foreign policy, and war.

In today's world of ingenuity, spontaneity and rush, the maxim
for entrepreneurs is to build the right team with the right
people and the right rewards. Many modern-day entrepreneurs will
remember this motto -- the difference between running a business
and ruining it is "i".

Consider Kautilya's words: "In the happiness of his subjects
lies the king's happiness; in their welfare his welfare. He shall
not consider as good only that which pleases him but treat as
beneficial to him whatever pleases his subjects".

This is a powerful thought that is just as relevant today.
Similar thoughts couched in different words adorn the corporate
corridors of today's businesses in the form of vision and mission
statements.

All entrepreneurs assume risks in the right proportions, for
without risks there are no rewards. Managing risks, not avoiding
them, is the art perfected by entrepreneurs. Hundreds of years
ago, Kautilya wrote, "In the interest of the prosperity of the
country, a king should be diligent in foreseeing the possibility
of calamities, try to avert them before they arise, overcome
those which happen, remove all obstacles to economic activity,
and prevent loss of revenue to the state."

Consider some other valuable quotes from his work that have
considerable depth:

"Just as it is impossible not to taste honey or poison that
one may find at the tip of one's tongue, so it is impossible for
one dealing with government funds not to taste, at least a little
bit, of the King's wealth."

"A single assassin can achieve, with weapons, fire or poison,
more than a fully mobilized army." How true this is today.

"Just as elephants are needed to catch elephants, so does one
need wealth to capture more wealth."

India's entrepreneurial prowess is as well established as our
ancient history. Present day entrepreneurs who are endowed with
talent and temperament enriched by an enviable culture can
channel the energy of youth into activities that can create more
wealth for their nations. As Kautilya said, "The root of wealth
is economic activity and lack of it brings material distress. In
the absence of fruitful activity, both current prosperity and
future growth are in danger of destruction".