Organizations need a culture of truth and transparency to remove cobwebs hiding the truth. Such culture and systems can exist only by the commitment of the leadership to truth. The truth needs to be accepted and practiced. This indeed requires courage and conviction. The worst economic recessions worldwide in the last few decades has forced us to take a fresh look at both the current management programs and prevailing business practices. That brings us to the core of this problem – a total lack of conscience or moral bankruptcy. There is an urgent and dire need to address these issues to create a morally healthy business environment for sustainable individual, social and economic growth.
The relentless pursuit of egoistic gratification has led to the current situation of corporate greed and lack of trust amongst people. People are the strength of the organizations and the leader who integrates this understanding creates an environment where people can use their full potential, feel appreciated and grow in the process. This requires an outside – in approach. The need is to create virtue based organizational processes to bring transparency and accountability in order to create good governance practices. The virtue based governance practices is likely to build enlightened corporate citizenship behavior enabling the organizations to realize welfare and good of all human beings, planet and earth.
Integrating Spirituality and Organizational Leadership Foundation (India) and ISOL Global Foundation (USA) is an interfaith research based management education initiative. The edifice of ISOL Foundation (India & USA) is built on the synthesis of sectarian beliefs. This harmony of religion is the spirit of the Foundation. Nine Research Groups (represented in the logo of ISOL Foundation) are created to draw insights from different wisdom traditions across various faith groups and integrate it with the leadership styles for creating non-violent, non-exploitative and sustainable organizations.
THE CHICAGO DECLARATION
THE 5th ISOL INTERNATIONAL CONFERENCE ON SPIRITUALITY FOR GLOBAL ECONOMIC DEVELOPMENT
SEPTEMBER 11, 2015
The representatives from the Governmental and Non Governmental Organizations meeting in Chicago from September 11-13, 2015 pursuant to global economic and sustainable development adopt this DECLARATION, to be known as “The Chicago Declaration” which contains the aspirations and commitments of the Indian and American regions:
THE CHICAGO DECLARATION OF ISOL GLOBAL FOUNDATION is made for
Emphasizing the significance of bringing the spiritual traditions of the east and the west at one platform to commemorate the legacy of the spiritual economist Swami Vivekananda on the 122nd anniversary of his Chicago lecture,
Raising awareness of Indian Culture and Philosophy in the United States of America,
Discussing the role of spirituality in global economic and sustainable development,
Bringing together corporate leaders, academicians and representatives from Governmental organizations and non-governmental organizations, spiritual organizations from the USA, Europe, Australia, Africa, the Middle East, Asia and farther,
Exploring the nature, determination and implications of the spiritual dimensions of global economic development,
Enriching the University of Chicago’s renowned program for the study of the Indian subcontinent and further research of India’s history and culture bringing Indian and University officials together,
Continuing the initiative of ISOL (Integrating Spirituality and Organizational Leadership) Foundation which started in 2007 with the focus to emphasize the role of spiritual values in enriching enterprises for creating sustainable, non-violent and non-exploitative organizations,
Reaffirming the need to reinforce the ethical and moral values for a healthy business environment that is sustainable for individual, societal and economic growth,
Authoritating balance between modern business theories and the age-old time tested moral and spiritual and ethical values,
Integrating religious institutions of multiple faiths into integrated development and applications of spirituality and ethics to develop consensus on Human Consciousness in Management systems,
Emphasizing the necessity to rationalize the Spiritual grounds for an enterprise to sustain development,
Calling for increased representation of the developed nations in the Centre for global economic development grounded on moral ethics and
Welcome the National and International institutions for genuine and constructive global economic development.
The Ambassador of India to the USA would be the Honorary Chairperson of the ISOL Chair of Eastern Philosophy of ISOL Global Foundation thereby strengthening the Indo-US cultural ties.
ISOL Global Foundation would hold an annual symposium on 4th July which is Swami Vivekananda’s nirvana day and also the American Independence Day focusing on implementation of moral and ethical values in day to day life. Sponsored Research Fellowship on Swami Vivekananda will be announced in the future if someone wishes to sponsor scholars doing research on Swami Vivekananda and Indian Philosophy and Culture. ISOL Global Foundation will provide free accommodation to the sponsored research fellows.
Promote Sacred Management Practices
We aim to create a shared perspective to conduct rigorous business practices with spiritual values at the core to bring transparency and accountability by inculcating moral and ethical attitudes into a valuable leadership style. The ISOL Chicago Declaration is the first step in this direction.
Spirituality for Global Economic Development
We strive to promote peace and harmony for global economic development. We are an interfaith research based management education initiative which draws insights from various wisdom traditions across different faith groups and integrates them with modern management practices to promote love, compassion and truth at work in order to create cohesion and harmony amongst people and our planet.
Enrich Enterprises through Spiritual Values
ISOL initiatives are based on the pluralism of sectarian beliefs with spirituality at its core. It believes in harmony and is rooted in fellowship of different faith traditions to realize its motto “Serve humanity for prosperity.”
Spiritually Based Businesses Outperform Others Globally
Sunita Singh Sengupta, Ph.D.
The insights that I gathered from the experiences of 30 years of my professional life as a researcher, teacher, trainer and consultant are suggested here:
- Organizations are not able to involve the whole individual to achieve its potential to the fullest and the transactional leadership style is not effective enough to engage the individual’s mind at work.
- The prevalence of increasing exploitative and violent behaviour at work place happens because of the absence of purpose driven powerful and principled managerial practice and organizational strategy.
- The strategies we employ have not given us the desired results. The relentless pursuit of egoistic gratification has led to the current situation of corporate greed and lack of trust amongst people. The clarion call is to create a morally healthy sustainable environment for social, economical and individual growth.
- Sustainable development requires strategies that advance the system by which we live on the planet and hence there is a need to incorporate the holistic development of person and society.
- Organizations need to develop strength based practices and therefore it should promote leadership that nurtures the spirit of each stakeholder in order to create harmony at workplace and society. The need of the hour is to promote compassion, love and truth at workplace so that non-violent, non-exploitative and sustainable organizations are created.
- Modern strategic doctrine mostly fails to include, the person and his aspirations and aims, in the strategic framework. People (employee and investors) are the strength of the organizations and the leader who integrates this understanding creates an environment where people can use their full potential, feel appreciated and grow in the process.
- Organizations need to create enabling environment to develop winning minds.
- There is a need to develop a rhythm between thought, feelings and actions – at both individual and organizational levels – for prosperity and harmony at workplace and society.
Integrating Spirituality and Organizational Leadership Global Foundation (ISOL Global Foundation) is registered as a Non-Profit Public Benefit Corporation under IOWA Non – Profit Corporation Act effective from July 31, 2015.
ISOL Global Foundation is the international headquarters of ISOL Foundation (India) which is registered as a Charitable Non – Profit Organization on September 3, 2009 vide Registration No. 3717 under Indian Trusts Act, Section 60.