In this novel world the art of Management has become an intrinsic part of our lives, be it at home, in the office or factory and also in the Government. In the Great Epics of India, Ramayana and Mahabharata, war ends not with commemoration of triumph but with imparting of wisdom. Lessons from Ramayana are a part of teaching leadership, management and corporate social responsibility at many prestigious management institutions.  Leaders of today can learn about the art of leadership from stories written thousands of years ago, things no management course can teach them. The objective is to understand and conceptualise the differences between the Idealistic and Practical approach followed by the greatest minds of Ancient mythology from the exemplary cases of Ramayana and Mahabharata. The author advocates, that there is no better or favourable way of managing and leading people in an organisation. Every leader performs and makes appropriate strategies according to the situations that arise and deals with challenges considering the resources at hand. The purpose of this paper is to help leaders to reflect on how to make difficult decisions by developing practical wisdom based on Indian traditions. Author highlighted the strategic approach and its importance in today’s corporate world of their leaders of Hindu mythology through related cases or incidences of Indian Epics.The researcher stresses on the need of assimilating both the approaches in order to get fruitful output. The paper explains both the approaches through descriptive research method in order to make the readers understand the relevance and usefulness of different leadership styles.

KEYWORDS: Idealism, Strategic Management, leadership Styles, Corporate Social Responsibility.