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SPIRITUAL CAPITAL – A New Paradigm to improve Corporate Performance

Author

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  • Chakrabarty, MADHUMITA

Abstract

The word “Capital” is used in a wider sense. The Oxford English Dictionary defined capital as “that which confers wealth, profit, advantage or power” (Pandey, 2016). Spiritual Capital is the fourth element of capital in an organization. In a broader outlook, “Spiritual capital” is a new paradigm, which requires that we radically change our mind-set about the philosophical foundations and the practice of business. The study is an attempt to reveal the impact of spiritual capital on overall corporate performances. Spiritual capital is the set of values, ethical point of view and visions for change held by individuals, groups and institutions. It has been shaped not only by systems and practices of belief, but also by engagement with wider sets of relationships, and the sense of meaning and purpose derived from work-based and other activities.

Suggested Citation

  • Chakrabarty, MADHUMITA, 2023. "SPIRITUAL CAPITAL – A New Paradigm to improve Corporate Performance," MPRA Paper 118940, University Library of Munich, Germany.
    • Handle: RePEc:pra:mprapa:118940
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    More about this item

    Keywords

    Keywords: spiritual capital; organization; corporate performance; management; motivation; reputation.;
    All these keywords.

    JEL classification:

    • M00 - Business Administration and Business Economics; Marketing; Accounting; Personnel Economics - - General - - - General

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