PEDAGOGY
by market capitalisation or shareholder returns, but also by the trust a company earns, the communities it strengthens and the legacy it leaves behind. Human values to the fore Across cultures and civilisations, many of the world’s great traditions of wisdom have arrived at remarkably similar ideas about leadership. The Bible reminds us that “to whom much is given, much will be required”, emphasising that leadership is a responsibility rather than a privilege. The Quran describes human beings as khalifah , or trustees of the Earth, highlighting accountability for how power and resources are used. Buddhism teaches that before leading others, one must first learn to master one’s own mind. Despite emerging from different cultures and historical periods, these traditions state that leadership is not merely about influence or authority; it is about character, so it’s time therefore for business education to rediscover the wisdom that has guided responsible leadership for centuries. As business schools prepare the next generation of leaders, the challenge is no longer simply to produce graduates who can manage complexity, leverage AI, or drive innovation. These capabilities will always matter, but the defining leaders of the future will also need the wisdom to exercise power responsibly, the humility to listen before acting and the courage to choose what is right over what is merely profitable. In a world increasingly shaped by algorithms, it is timeless human values that will determine whether progress truly serves society. Those business schools that make the greatest impact may not be those that produce the smartest managers, but the ones that nurture the wisest leaders. Such leaders will understand that true success is measured not only by what they achieve, but also by the lives they enrich and the trust they inspire along the way. Himanshu Rai is the director of the Indian Institute of Management (IIM) Indore. He is also the author of Negotiation and the Hindi spiritual book, Pravah , as well as co-author of Organisational Behaviour and Brand India . Rai has empowered more than 100,000 professionals across a career that spans consultancies with the World Bank, the Government of India and other leading organisations
something as simple as dedicating a few minutes to reflection before discussing a complex case could encourage students to respond thoughtfully rather than react instinctively. These are not spiritual rituals, but leadership practices that cultivate judgment, humility and self-awareness.
IIM INDORE
Mindfulness in management At IIM Indore, we embrace this broader
understanding of leadership and blend it with spirituality across all our flagship courses. While maintaining academic rigour in management education, we have also sought to create experiences that encourage students to develop empathy, resilience and a sense of purpose. Our mindfulness initiatives, such as yoga sessions and nature walks, invite students to pause, reflect and become more aware of their thoughts and actions before making decisions. In addition, the Rural Engagement Programme enables students to step outside the classroom and work closely with communities, gaining first-hand insight into the realities faced by people whose voices are often absent from business discussions. Even our Integrated Programme in Management, which admits students immediately after school, reflects our belief that leadership education should not begin with business alone. By combining management with disciplines such as psychology, sociology, economics, literature and philosophy, the programme encourages students to understand both organisations and the people who make them. These experiences help our students understand the human context in which those problems exist. Another idea that deserves renewed attention is Mahatma Gandhi’s principle of trusteeship. Gandhi believed that wealth, knowledge and power should not be seen as possessions to be accumulated, but as resources held in trust for the benefit of society. Decades later, this philosophy feels more relevant than ever. Around the world, businesses are being judged not only by what they produce, but also by how they treat employees, use natural resources, embrace emerging technologies and contribute to society. Stakeholders today expect organisations to look beyond quarterly profits and consider their long-term impact on people and the planet. Trusteeship offers a powerful shift in perspective. It encourages leaders to understand that success is no longer measured solely
Business Impact • ISSUE 5 • 2026
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