Managing Money and Happiness Today- A Global Approach

United Nations Lovely Professional University (LPU) Dr. Ashok Kumar Mittal Narendra Modi FMCG COMPANY FMCG JOB Product Management Product Marketing Human Resources Linkedin Marketing and Ads Linkfluence BharatPe Indian Sites Hindustan Times The Hindu The Economist Outlook Publishing (India) Pvt. Ltd. ITC Limited Indian Farmer Land Hinglish? Aon 英国牛津大学 雀巢

Boston Consulting Group (BCG) , Bain & Company , McKinsey & Company , EY , PwC , Deloitte , KPMG , JPMorganChase , Morgan Stanley , Goldman Sachs , McCann Worldgroup , Unilever , ITC Limited , Marico Limited , Nestlé , Cadbury UK , Procter & Gamble , Barclays UK , Capita India , Allstate , Asian Paints , HSBC , Wells Fargo , American Express , Apple , Ogilvy , The Times Of India , BBC Studios , WPP , Rediffusion Y&R , Reckitt , Haleon , Lloyds Banking Group , Shell , Glencore , Kearney and Tesco

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Money is a human-made valuable item or system that acts as a medium for the payment of goods and services in return for perceived value. Since the inception of business, humans have exchanged physical items for others, as exemplified by the Barter System.

Today, we buy numerous commodities to fulfil our various desires, which include pleasures, needs, and wants. However, humans often fail to understand the root cause behind stressing over trivial matters despite being professionally affluent. Money may heal physical damage, such as illness or body disorders, but it cannot cure emotional or internal damage; it can only provide temporary pleasures. In my view, motivation is the strongest fuel driving successful humans on Earth.

Money cannot buy happiness. Professionally speaking, when we talk about the triple bottom line in our business—People, Planet, and Profit—it reflects the essence of happiness. In fact, this is the foundation for sustainable development, which is a major concern today. We cannot rely solely on money for the survival of any business; concern for people and the planet should also be prioritized.

As a normal human being, have you ever wondered why people in busy communities need psychiatrists today? Why do people demand work-life balance in organizations? Why do organizations conduct mass layoffs, leading to national concerns about unemployment? Despite India being a democratic country, it still faces significant political turmoil.

The problem lies in considering everything primarily in terms of monetary profit. GDP alone cannot be the biggest indicator of a nation's economy. Mass layoffs are not always the solution for organizations. Psychiatrists cannot cure everyone chasing materialistic goals and experiencing depression and anxiety upon failure. Instead of paying psychiatrists to treat these individuals, why don't we learn to manage money sustainably with the key principles of the triple bottom line?

In my opinion, management starts with individuals and extends to larger organizations. If individuals learn to manage money today, the world will be a better, happier, more stable, and ultimately successful place. We must consider moral values in the profit-seeking race today. We should try to give back to nature in return for what we take from it. A healthier environment is what we need, and this also involves dealing ethically with the people around us. Ethical values should not lose significance in the course of professionalism. Love, respect, and dignity should be instilled from individuals to nations because individuals create families, families create societies, and societies create nations. Our rich Indian culture has the best scope for leveraging these values. Let us create a better world!

Sustainable Development Goals are important for everyone today. The advancement of technology and globalization has taught us many things. I think GNH (Gross National Happiness)—a measure of economic and moral progress introduced in Bhutan—should be adopted by every nation. The "four pillars" of GNH are good governance, sustainable development, preservation and promotion of culture, and environmental conservation.