Lessons from Ancient Wisdom: Balancing Profits and Principles in Modern Business

Balancing Profits and Principles in Modern Business

In today’s world, businesses face a tough challenge: earning profits while acting responsibly. They need to protect the environment, treat workers and communities fairly, and run their companies with honesty. These duties fall under ESG—Environmental, Social, and Governance principles. Ignoring these responsibilities can harm a business’s reputation, cost them customers, and lose the trust of investors, making it clear that ethical practices are essential for long-term success.

But how can businesses balance profits with ethics? Ancient stories like the Epic of Gilgamesh and lessons from Dharma offer valuable insights. These timeless teachings show that true leadership isn’t just about power or wealth; it’s about doing what’s right for everyone. By applying this wisdom, businesses can tackle modern challenges, helping create a fairer and more sustainable world. This essay explores how ancient ideas can guide companies toward a better future.

The Story of Gilgamesh: A Lesson for Leaders

The Epic of Gilgamesh, written over 4,000 years ago, is one of the oldest stories in the world. It tells about King Gilgamesh, who ruled the city of Uruk. Although he was strong and powerful, he made his people work too hard and did not care about their well-being. To teach him a lesson, the gods sent Enkidu, a wild man, to challenge him. At first, they fought, but soon they became close friends.

Together, they learned that cooperation and trust are more powerful than selfishness. This ancient story reminds us that good leaders care about the people they lead. Just like Gilgamesh learned to change, today’s business leaders must listen to their workers, protect the environment, and make decisions that benefit everyone—not just themselves. It shows that real success comes from being fair, caring, and working together for the greater good.

Dharma: Living and Working with Purpose

The lessons from Gilgamesh align closely with the ancient Indian concept of Dharma, which means doing what is right and fair for the benefit of all. Just as Gilgamesh learned to balance his power with responsibility, Dharma teaches that true leadership requires purpose, fairness, and care for others. In business, following Dharma means acting responsibly, respecting workers, and thinking about the long-term impact on the planet.

Together, the wisdom of Gilgamesh and the principles of Dharma offer timeless guidance for leaders striving to create a better world. As broached in Managing by Dharma: Eternal Principles for Sustaining Profitability by Paresh Mishra and Suresh Kalagnanam (Palgrave, 2022), Dharma fits perfectly with the goals of ESG, which stands for Environmental, Social, and Governance principles. First, environmental responsibility: Dharma teaches us to live in harmony with nature. Businesses that reduce waste, use renewable energy, and protect natural resources embody this idea.

Second, social responsibility: Dharma emphasises fairness and kindness. Companies that treat workers well, pay fair wages, and support local communities reflect this principle in their actions. Finally, good governance: Dharma values honesty and fairness. Transparent decisions, ethical leadership, and being accountable to others represent this value. By practicing Dharma, businesses can achieve ESG goals while helping to create a better world for everyone.

Learning from Mistakes: Greed Can Be Dangerous

History shows that greed has caused many problems. For example, companies like Enron collapsed because their leaders focused only on making money and cheated people. The story of Gilgamesh also warns us about greed. Gilgamesh wanted to cut down all the cedar trees in a sacred forest to show his power, but this harmed the environment and upset the gods.

Today, businesses often face tough choices between doing what is right and what is easy. Unfortunately, some companies pretend to care about the environment or social issues to gain trust or attract customers, but their actions don’t match their promises.

This misleading behaviour is called greenwashing. For example, a company might advertise its products as eco-friendly while still polluting or wasting resources. Greenwashing is dishonest and harms trust. Dharma and stories like Gilgamesh remind us that real success comes from genuine, responsible actions, even if they are harder or cost more in the short term. True leadership is about integrity, not just appearancesTop of Form.

Building Better Businesses: The “Narrow Corridor”

Modern businesses can learn from both Dharma and the Epic of Gilgamesh. Paresh Mishra and Suresh Kalagnanam call this the “narrow corridor”—a place where businesses balance profits with principles. This idea is about balancing profits with principles, just as Dharma and the Epic of Gilgamesh teach us. To walk this path, businesses must adopt certain practices. First, be purposeful leaders: Leaders should prioritise the well-being of their workers, communities, and the environment alongside profits.

Second, work together: Companies should collaborate with governments, communities, and other organisations to address global challenges like climate change. Third, create ethical systems: Businesses should build systems that encourage honesty, fairness, and responsible actions, ensuring that doing the right thing is easier than taking shortcuts. By following these steps, businesses can achieve long-term success while making the world a better place. These lessons from ancient wisdom and modern strategies show how ethical leadership can lead to sustainable progress.

Economics and Stories: What We Can Learn

As Tomáš Sedláček explains in Economics of Good and Evil: The Quest for Economic Meaning from Gilgamesh to Wall Street (Oxford, 2012), economics is not just about numbers and profits—it is about morality and meaning.  He uses stories like the Epic of Gilgamesh to show how ancient wisdom teaches us the value of cooperation, fairness, and sustainability.

Sedláček also highlights how religious teachings, such as the story of Joseph in the Bible, have influenced economic thinking. In Joseph’s story, he wisely plans for seven years of abundance followed by seven years of famine, teaching the importance of preparing for the future. These ancient lessons are still relevant today, showing that businesses should not only focus on short-term gains but also think ahead and act responsibly. Sedláček reminds us that good economics is about balancing success with ethical principles, ensuring benefits for both people and the planet.

Why Balance Matters: A Lesson for Everyone

Balancing profits and principles is a valuable lesson not just for businesses but for all of us. Whether we are leaders, workers, or students, we can draw wisdom from stories like Gilgamesh and the concept of Dharma to make decisions that benefit everyone. These lessons teach us that fairness, care for others, and responsibility create stronger, more sustainable outcomes.

For businesses, this means valuing workers, protecting the environment, and acting honestly. Companies that prioritise these principles are more likely to build long-term success and trust. The message is clear: doing the right thing is not just morally good—it makes practical sense. Leaders who put people and the planet first create businesses that are not only profitable but also respected and admired by their employees, customers, and communities. This balance leads to real and lasting success.

Conclusion

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