A new study shows that practitioners of Buddhism benefit as entrepreneurs.
- New research from National Cheng Kung University analyzed 331 entrepreneurs living in Taiwan and Thailand with a questionnaire about their religious beliefs and stress tolerance.
- The British Academy of Management notes that the research found entrepreneurial orientation was higher among Buddhists (74%) than non-Buddhists (71%).
- Practicing Buddhists were found to have a 4% higher level of stress tolerance than non-Buddhists, with higher religious commitment increasing entrepreneurial skills.
Why It’s Important
Buddhism is a religion and spiritual practice that teaches the importance of enlightenment, mindfulness, and peace, educating practitioners on the importance of self-improvement, self-discipline, and social responsibility. It teaches users to grapple with the impermanence of life and the inevitability of change.
In the stressful world of business and entrepreneurship, these skills are highly valuable and profitable, helping entrepreneurs maintain their mental well-being in the midst of extreme difficulty. The benefits of awareness and mindfulness similarly benefit entrepreneurs in their decision-making.
“Buddhism is generally described as a path to liberation through practicing moral virtues, toughening willpower, and sharpening wisdom. The Buddhist philosophy seeks to help the believer grasp the essence of objective reality and helps entrepreneurs to analyze and make decisions,” says Ph.D. candidate Huei-Ying Chen.
“Buddhist philosophy and values also allow entrepreneurs to cope with stress in environments associated with high uncertainty and pressure. Entrepreneurs who are innovative, proactive, and risk-taking are likely to achieve product creativity through enduring stress well.”
Backing Up A Bit
As we previously reported, ancient philosophies like Greek Stoicism have become popular in the Western business world as a solution to addressing similar issues with stress, meaning, and proper thinking.
Buddhism remains one of the most popular spiritual systems in East Asian countries, with more than 80% of the population of Thailand, Burma, and Cambodia practicing. 50% of the world’s Buddhist population lives in China, despite the country only being 18.2% adherent.