Governance by Consciousness

Corporate Governance has become one of the buzz-words in corporate and management circles. The corporate world as a whole is in the process of acquiring a moral conscience. The new and emerging concepts in management like corporate governance, business ethics and corporate social responsibility are some of the expressions through which this emerging ethical instinct in the corporate world is trying to express or embody itself in the corporate life. However effective implementation of an ethical ideal or concept requires two factors: creating an ethical consciousness and promoting ethical conduct and behaviour. But for the outer conduct and behaviour to be authentic, sincere and effective, it has to be a spontaneous expression of a corresponding inner state of consciousness. This article examines the concept and practice of corporate governance in an integral, holistic and consciousness perspective. By the word "integral" we mean both the inner and outer dimensions of the phenomenon under study. By the word "holistic" we mean what is now called as "systemic" perspective which views corporate governance as a subset and in the context of the larger corporate environment. By the word "consciousness-perspective" we mean an emphasis on the inner change of consciousness, but without ignoring the need for its outer expression in the collective life.