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The Ayni Principle: An Indigenous theory of value creation

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Abstract

In this chapter, I posit the question, ‘How can we adopt the Sumaq Kawsay3 approach, in particular the Ayni principle, as Indigenous people have done in the past?’ Subsequently, I explore Ayni as a guiding principle for companies that seek to create value. I argue that the Ayni concept was not simply an act of business transaction between families, but more importantly an Indigenous theory of value creation that embodies the Andean world views with regard to business ethics and human well-being for the benefit of all stakeholders. Subsequently, Indigenous stakeholder principles form the basis of my proposed ‘Corporate Indigenous Theory’ since they have led the Andean peoples to the attainment of what I describe as an Indigenous theory of value creation. The same Indigenous principles can be extended to the management of business in today’s society.
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The theoretical challenge posed by this paper is to find a conceptualisation of value for entrepreneurship theory grounded in Indigenous knowledge from a Māori perspective capable of guiding entrepreneurs operating for sustainability and wellbeing. We review Western and Māori theories of value, values, and valuation. We argue that Indigenous concepts of value centre on collective wellbeing as opposed to self-interest, and have spiritual and material elements. The paper proposes a tentative Māori theory of value we call manahau, which combines mana (power, authority, and dignity) and hau (vitality of people , places, and objects). We define manahau as an axiological agent Māori entrepreneurs employ to synergistically negotiate cultural and commercial imperatives to achieve multi-dimensional wellbeing, human potential, and relational balance. We discuss research which illustrates manifestations of manahau in the Māori cultural ethics of utu (reciprocity) in Māori entrepreneurship and tauutuutu (reciprocity and balance) in Māori agribusiness. We argue that an Indigenous Māori theory of value has implications for entrepreneurship theory and practice.
Article
Management thinking today, based in neoliberalism, gears economies, businesses, and whole societies toward constant material growth and achievement of wealth, defined as monetary or financial wealth. In terms of management learning, the dominance of the managerialist/capitalist ideology reinforces existing dominance structures that have long suppressed the voice—and values—of Indigenous peoples. Drawing from work by Indigenous scholars, we focus on the Indigenous wisdom which has the potential to offer a very different form of economy and different sets of managerial values that orient businesses and other institutions towards fostering relationship, responsibility, reciprocity and redistribution for shared wellbeing. Perspectives from Indigenous wisdom can push focus away from today’s neoliberalism and “(hu)man”-dominating-nature mindsets, evident in Western cultures, towards more holistically integrated approaches. In the aftermath of the Covid-19 pandemic, we argue for a pivot towards recognizing, collaborating with, integrating, and renewing management and business school mindsets by incorporating Indigenous wisdom to build a world in which all—including non-human beings—can flourish.
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