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Ramayana has considered as a wonderful epic and the first written literature in the Indian context. Over the centuries, several authors have explored various aspects of Ramayana ranging from spirituality, politics, sociology, culture, literature, language, poetry, technology and many more. Ramayana is equipped with several lessons concerned with managers' effectiveness. Therefore, this effort aims to fill the gap in the literature by exploring the relevance of Ramayana for development of modern managers by employing, a qualitative methodology, this paper have explored devotion towards elders, towards work, work ethics, leadership values, motivation, dharmic management, principles of self control and being keen, decision making, humanism which provide meaningful lessons for enhancing managerial effectiveness. The managerial impact of Ramayana seems to be unlimited and undiminished.