"KAUTILYA'S ARTHSHASTRA": EVOLUTION OF SCIENCE OF MANAGEMENT IN ANCIENT INDIA

From the beginning of the civilization the art of management in administration level was co-exist, where it led to systematic arrangement of function performed by the individuals. In Modern time Management is an art of planning, organising, staffing, directing and controlling the activities of an organisation towards the achievement of predetermined goals of wealth and profit maximization. It is a combined efforts of all levels of Management to ensure the achievement of goals in an organisation. This phenomenon is being carry forwarded from the ancient time as well where “Kautilya Arthshastra” had depicted the principles which an administrator had to follow for best governance of the state. By applying those principles how a Rular can built long-term goals for good governance of the state or the empire. The existence, development and execution of management activities was found in the Historical literature of “Kautilya Arthshastra”. Therefore, well management was treated as an essence for the good governance of an empire. In ancient times the qualities of wisdom, intelligence Valor, bravery, knowledge and leadership was learnt in early age in essential manner.The ancient literature has influence on corporate governance, corporate administration and leadership as well. In ancient time theories were based on few basic principles of “Kautilya Arthshastra”. The principles and concepts are relevant in the modern time as well in corporate governance. Therefore, this research is required to find out, how this literature influenced and contributed in the development of modern management studies, strategic management, and corporate governance. An attempt is made to illustrate that what are the unexplored areas where “Kautilya Arthshastra” attributed in the field of Management to the other related segments to be explored. This research paper analysed the socio-economical, individual-behavioural, and institutional factors and factors, that highly contributed to modern management practices. The research paper also investigated the implementation that has been done so far in management and the progress accomplished in the corporate sector concerning Strategy formulation and execution. In the coming future, the requirement of good governance with strategic implementation will be highly essential. Therefore, the research study will contribute in the apprehension of strategic upright in the management of economic activities in the country as well.Keywords: Strategic Management, Corporate Governance, Ancient Literature, Kautilya Arthshastra, Leadership and Administration.