Spiritual Capital and Business Sustainability: A Secular Perspective

Research on spiritualism has been gaining global acceptance increasingly. Many researchers are attempting to establish the significance of being spiritual and workplace spirituality in the corporate setup. Nevertheless, most modern business approaches are predominantly profit-driven, in addition, organisations are striving hard for developing a dedicated workforce keeping ethics and values as the center point of business practices. However, economic development and spirituality have a few conflicting ideologies, yet many studies claimed that economic sustainability is not possible without a spiritualistic approach to business management. This paper aimed at portraying an in-depth understanding of spirituality and its role in contemporary business management practices. Moreover, an effort was also made to project a secular and practical approach to the implementation of spiritual capital in the sustainable development of businesses by analysing the insights from different prior studies. This paper is not only useful to entrepreneurs, but also for employees and individual business owners to better understand the significance of a spiritual approach to business management for achieving long-term sustainability.