Jainism

Introduction: Jainism is a syncretistic religion, which contains many elements similar to Hinduism and Buddhism. The world's almost 4 million Jains are almost entirely located in India. Jainism is one of the world's oldest religions. Jain believes that • First, we must have RIGHT FAITH; we must believe in truth. • Second, we must have the RIGHT KNOWLEDGE; we must study to understand what life is all about. • Third, we must follow RIGHT CONDUCT, the conduct which our faith and knowledge show us to be correct. Jainism is particularly concerned with ethics, with matters of right and wrong, with morality in its widest sense. There are four great ethical principles. Most important is non violence, towards all living creatures, truthfulness, not taking the property of others, and not seeking to accumulate excessive possessions. Jainism has a long association with finance and commerce and many were well placed to play a leading role in the economic development of modern India. There was an influx to the big commercial and manufacturing centers of Bombay and Calcutta in the nineteenth century. Development was not without its traumas: when Jain businessmen first became involved in the cotton industry in Ahmedabad they were criticized by co-religionists fearful of the harm to tiny living beings implicit in the operation of the great new machines. The reputation of Jain businessmen for honesty and fair dealing, together with a simple way of life, stood them in good stead and many prospered exceedingly.

• What is the secret of the business? The main secret of the business is the attitude of the owners. In other Words the owner’s mind is completely inclined into the business. They Cannot think anything beyond profits and business. Every time they think of business in the way of expanding and diversifying to some extent. The People don’t hesitate in taking risk. • What is unique in family business management? The businesses in the community are mostly family first businesses. Here the owner gives first importance to the family. Even though they continuously think of profit maximization they will give first priority to the family and the members of family in the business. Key positions of the business are normally held by the family members hence other people don’t hold much power in the business. The eldest member here holds all the power and authority and nobody questions them. Traditional methods are followed and lots of rigid practices are also seen in the business. • Why these communities are successful in their business with respect of values, traditions and cultures? Mostly the businesses in Jain community are based on non-violence. In other words the businesses try to follow non-violence in the business also. Due to all this the community also believes in giving it back to the society of all the advantage it receives from the society. The community respects education hence majority of people being educated help in the businesses and also in the upliftment of the community as the whole. We believe in following the ethics and hence we try to make appoint that everybody is treated fairly and justly. We respect our elders and Take their word as the final word. One unique peculiarity is that we can’t sit anywhere and start our business; we need proper surroundings for setting our business. This clearly states that we are quite egoistic in nature.

EXAMPLES OF JAIN BUSINESSMAN Kishor Biyani-CEO of Future Group Known by its Pantaloons and Big Bajar brands, Future Group is one of India’s leading business houses with business in retail; capital and investment advisory services; consumer finance; insurance; brand development; retail media and logistics. Gautam Adani-Chairman of Adani Group A dynamic and enterprising Gautam Adani has over 20 years of experience in manufacturing and trading. Sudhir Mehta- Chairman of Torrent Group After graduating with a bachelor’s degree in 1974, he took the plunge into business. His gusty nature and conviction has led to Torrent Pharma’s success in the exports markets.

JAI JINENDRA

Assignment of Family Business Management

“JAIN COMMUNITY”