“The Joy of Giving: Dr. Jagdish Sheth’s Enduring Legacy of Knowledge, Gratitude, and Philanthropy”

“Giving back while you are alive is more enjoyable than after you are dead. It is the joy of transforming somebody else and unlocking their potential.” — Dr. Jagdish N. Sheth

The story begins, fittingly, over a cup of chai!

Visitors to the home of Dr. Jagdish Sheth and his wife, Madhu, are greeted with a warmth that mirrors the sunlight that often streams into their kitchen. Madhu’s gracious hospitality—refilling cups, offering food, ensuring no conversation begins without care—reflects the ethos the Sheths embody. Their philanthropy does not start with grand gestures; it grows organically from small, sincere acts of kindness that extend outward to uplift communities.

Dr. Sheth, Padma Bhushan awardee (2020), global scholar, and widely respected mentor, often describes giving not as an obligation but as a profound source of joy. “When you unlock someone else’s potential,” he has said, “you experience a happiness that no material success can match.”

A Scholar’s Journey

Long before he became one of the world’s most influential voices in marketing and consumer behavior, Dr. Sheth was a young refugee from Burma, growing up in modest circumstances in Madras. His path to academia began almost by accident. “When I came to the University of Pittsburgh for my MBA, I had a full fellowship. I barely had the money to come,” he recalled. “That was the first turning point. I realized I wanted to be an academic.”

It was there that he first encountered Abraham Maslow’s theory of motivation, a spark that ignited a lifelong curiosity. “I loved Maslow’s hierarchy of needs,” he said. “But I wanted to take it further. He spoke of how individuals grow, but I began to wonder, could institutions also go through these stages of growth?”

Dr. Sheth reimagined Maslow’s framework at the level of nations, religions, corporations, and even families. Survival and safety, he reasoned, defined the early stages of any organization. As those needs were met, institutions evolved toward belonging, independence, and finally self-actualization. “I saw that just as individuals strive for fulfillment, institutions also evolve in their purpose,” he said.

He shared how this line of thinking unexpectedly predicted the fall of communism. “I said governments must change too. A hungry tiger will accept a cage if you feed it, but once it is no longer hungry, it will break free. That became a behavioral way of understanding political change.”

That early paper caught Maslow’s attention. “He wrote to me saying it was the best thinking he had seen and pleaded with me to publish it,” Dr. Sheth remembered with a quiet smile.

The second defining moment came through his mentor, Professor John A. Howard, with whom he later co-authored The Theory of Buyer Behavior. “He became a father figure to me,” said Dr. Sheth. “When I questioned one of his conclusions in class, he was surprised. But that curiosity led him to invite me to work with him. That changed my life.  When he decided to go to Columbia University, he asked me to go with him.  In 1963, I joined Columbia University as a Research Assistant.”

At Columbia University, he spent hours in the library stacks, exploring disciplines far beyond marketing. “I read everything — anthropology, economics, psychology, and social sciences. That period broadened my mind. I learned that great scholars are both deep in one field and wide across many. I call that being a “deep generalist.”

His eyes softened when he spoke of Madhu. “Of course, the most defining moment was marrying Madhu,” he added. “I would not have grown the way I did without her support.”

Madhu Sheth, smiling beside him, quietly said, “Our life has always been about partnership — in work, in giving, in learning.”

The Philosophy of Gratitude

The spirit of gratitude runs through every aspect of Dr. Sheth’s work and life. “Giving back comes naturally when you realize your potential was unlocked by somebody else,” he said. “Many immigrants and refugees understand this. 

They

know what it means to be helped, so they want to help others. I have found that people who come from struggle are often the most generous.”

He spoke of the joy of giving while alive. “You can see the transformation you create in others. You can see a student, a community, a family grow because of your contribution. That is much more satisfying than leaving behind wealth after you are gone.”

This sense of joy, he explained, is not only emotional but deeply pragmatic. “Philanthropy is not charity; it is investment in human potential,” he said. “The return is social progress.”

The Indian Diaspora: A Global Force for Good

As one of the foremost observers of global communities, Dr. Sheth views the Indian diaspora as a powerful, under-tapped resource for positive change. “The Indian diaspora is the largest and most global in the world,” he said. “We are in every continent, adapting everywhere, and that is our strength.”

Today, more than 35 million people of Indian origin live abroad. In the United States alone, there are about 5.4 million. Indian-Americans have among the highest education levels and household incomes of any ethnic group, yet Dr. Sheth noted a paradox: “Despite success, our giving rate is lower than the American average. We need to close that giving gap.”

He believes the first obligation of any immigrant community is to give back to the society that nurtures it. “Become engaged citizens,” he urged. “Volunteer, serve, lead. When minorities contribute visibly and selflessly, they are not only accepted but admired.”

He highlighted the high rate of volunteerism among Indian-Americans — nearly twice the national average — and sees this as a foundation for building sustainable philanthropy. “Volunteering is the first step. Sustained giving comes when communities create systems that last beyond individuals.”

Building Sustainable Philanthropy

When asked about ensuring the long-term viability of community organizations such as IACA, Dr. Sheth offered three strategies.

“First, planned giving,” he said. “Encourage members to include the organization in their wills. It is how you build an endowment culture.”

“Second, create a Donor-Advised Fund. Let the principal grow and distribute only a portion of the earnings. It becomes a perpetual source of support, especially for scholarships.”

“And third, organize one-time, unique events for causes that matter. A community can unite around a single goal and make a lasting impact.”

He also emphasized collaboration. “No one organization can do it all. When cultural, professional, and faith-based groups cooperate, they create the infrastructure for sustained community good.”

The IACA Connection

As a distinguished member and long-time supporter of the India American Cultural Association (IACA), Dr. Sheth has exemplified this philosophy of community building. He and his wife’s generous donations to IACA have helped strengthen its cultural and educational initiatives, ensuring that the next generation of Indian-Americans stays connected to their roots while thriving in their adopted homeland.

Beyond financial support, Dr. Sheth has been a guiding presence — a mentor whose vision of “giving while living” has inspired others to serve and lead. His practical advice on sustainability, combined with his example of generosity, continues to influence IACA’s ongoing mission to serve as a bridge between cultures.

A Legacy of Ideas: The Rule of Three

Among Dr. Sheth’s many scholarly contributions, The Global Rule of Three stands out for its clarity and insight into how industries evolve. In this work, co-authored with Rajendra Sisodia, Dr. Sheth demonstrates how, in any mature industry, only three large full-line generalists and several smaller niche players can survive long term.  This is similar to a shopping mall where the anchor stores such as Macy’s, and Bloomingdales are full line generalists surrounded by many smaller specialty retailers, ie, Sephora, Victoria’s Secret, etc. 

“The pattern is universal,” he explained. “From airlines to automakers, from banks to technology, markets naturally consolidate into three dominant firms. Understanding this helps companies compete intelligently rather than destructively.”

The Rule of Three has since become a strategic framework used by business leaders and policymakers alike. It reflects Dr. Sheth’s lifelong fascination with patterns — not just in markets, but in human behavior, politics, and societies. It also mirrors the same balance he seeks in life: structure, competition, and cooperation coexisting in harmony.

A Legacy of Learning and Recognition

At 87, Dr. Sheth remains intellectually vibrant, still teaching, writing, and mentoring at Emory University’s Goizueta Business School. In 2020, he was honored with the Padma Bhushan, India’s third-highest civilian award, for his contributions to literature and education.

“I am truly humbled,” he said when we spoke of the honor. “A nation’s true competitive advantage is entrepreneurship. India is blessed with entrepreneurs. My role has been to help unlock that potential, through education, through ideas, through giving.”

His legacy stretches across continents, from shaping marketing theory to guiding governments and corporations. Yet, at heart, he remains a teacher. “The joy of seeing a student surpass you is greater than any professional achievement,” he said with quiet conviction.

He continues to nurture the next generation through the Sheth Foundation, supporting doctoral research and promoting scholarship in emerging markets. “The future belongs to those who combine business with social purpose,” he said. “That is what I call social business.”

The Human Connection

Throughout our conversation, I was struck by the ease with which intellect and humility coexist in him. As he reflected on his early days as a refugee student, borrowing money to reach Pittsburgh, and on his global recognition today, his tone remained one of gratitude rather than pride.

“The world gave me opportunities,” he said softly. “Now it is my turn to give back.”

Madhu Sheth added, “We have seen what education and kindness can do. For us, philanthropy is simply sharing what life has given us.”

That afternoon, as I finished yet another cup of chai, it was impossible not to feel inspired. The Sheths’ story reminds us that generosity is not measured by the size of one’s wealth but by the depth of one’s gratitude.

Looking Forward

As our conversation drew to a close, Dr. Sheth spoke of his hopes for future generations. “Start early,” he advised. “Engage with your community in middle school, in high school. Make giving a habit. When young people see the impact of their time and effort, they learn that they can shape the world.”

He envisions a world where knowledge and kindness are inseparable. “We must move from self-interest to shared interest,” he said. “That is how societies grow.”

The afternoon light shifted, and I realized that our conversation had stretched for hours, yet it felt timeless. In Dr. Sheth’s life, scholarship and service, intellect and empathy, tradition and innovation all coexist seamlessly.

His journey, from a refugee child to a global thought leader, from a curious student to a revered mentor, embodies what he calls “the joy of giving.” And in that joy lies the truest measure of success.

About Dr. Jagdish N. Sheth

Dr. Jagdish N. Sheth is the Charles H. Kellstadt Professor of Business at the Goizueta Business School, Emory University. He is globally known for his contributions to consumer behavior, relationship marketing, competitive strategy, and geopolitical analysis.

With over sixty years of teaching and research experience, he has served at the University of Southern California, the University of Illinois at Urbana-Champaign, Columbia University, MIT, and Emory University.

He received the Padma Bhushan in 2020 for literature and education, one of India’s highest civilian honors. Dr. Sheth is a Fellow of the Academy of International Business (AIB), the Association of Consumer Research (ACR), the American Psychological Association (APA), the American Marketing Association (AMA), and the Academy of Marketing Science (AMS).

He has advised leading corporations including Whirlpool, Motorola, Texas Instruments, Wipro, and the Aditya Birla Group, and has served on the boards of several companies. His Rule of Three framework has guided investment bankers and policymakers in understanding industry consolidation.

Dr. Sheth has authored or co-authored more than 300 papers and several influential books, including The Global Rule of Three, The Howard-Sheth Theory of Buyer Behavior, Firms of Endearment, Breakout Strategies for Emerging Markets, and The Accidental Scholar, his autobiography.

He founded the Center for Telecommunications Management at the University of Southern California and the India, China, and America (ICA) Institute, which studies trilateral relations in trade, security, and investment. With his wife, Madhu, he established the Sheth Family Foundation and the Madhuri and Jagdish Sheth Foundation to support education, research, and community causes across the United States and India.