Abstract

This article analyzes the past, the present, and the future of business institution in society in terms of its management approaches by using the framework of human evolution, and discovers a trend that explains three paradigms in business management that have been witnessed so far. Extending the trend, it projects another two paradigm shifts to take place in future, and establishes that the business management practice is going to evolve further where it will turn from its present status of ‘result-oriented management’to ‘process-oriented management’ in terms of its focus, or in other words, it will evolve from ‘professional management’ to ‘ethical management’ in terms of its underlying philosophy. As a result, the business enterprise will evolve from its present form of economic organization to a humane organization, and further up to a divine organization. Expressed the other way round, the business institution that had kicked off as an industrial organization has got transformed to a human organization by now; however, in the future, it will further evolve to its final level of a divine organization.