Buddhist business, a Buddhism-based management system, has been discussed especially among Asian scholars of business and economics.  These scholars have studied various extensions of Buddhism to business conducts or top executives’ Buddhist beliefs in business.  While there are many studies, Buddhist business has not been established as an independent management system.  This is because we do not have a generally accepted model of Buddhist business which will show Buddhist philosophies and teachings in critical elements of business conducts such as human resources, capital, and goods/service.

Based on our literature reviews, we believe there have been sufficient data and information to develop the generally accepted model.  The model is also very important because it will be used for comparative studies, development of Buddhist business in various industries, and actual assessment of effectiveness of Buddhist business.

As a first step to develop the generally accepted model, we will develop a testable theoretical model of Buddhist business through intensive literature reviews.  Once we develop the testable model, we will test and polish it later with various case studies to develop the generally accepted model.

Our literature reviews started with Schumacher (1974) to find all principles, values, teachings, and characteristics of a Buddhist economics model.  Then, we moved on to Payutto (1994), Field (2007), Guruge (2007), Peeters (2016), and Proyukvong (2017) to find all principles, values, teachings, and characteristics of a Buddhist Business model.