Ancient Indian Ethos are the basis for modern management practices, as they derive serval lessons from them. The applicability of these lessons are helping to solve todays corporate problems throughout the world. One of theMost revered Epic Ramayana, is considered as marvelous epic, first written literature in the Indian Context. Over the centuries, several authors have explored various dimensions of Ramayana ranging from philosophy, spirituality, politics, economics, sociology, culture, literature, language, poetry, technology, and others. However, we find few research work related to understand the relevance of Ramayana and Management. Hence authors have felt the need for understanding the applicability of great principles and lessons in developing management practices to lead effectively. In this conceptual research paper authors have made an effort to bring management insights from Ramayana. This research paper is developed based on qualitative analysis of earlier research papers, Indian epics and Indian ethos. The review of epic provides valuable insights in developing this article. Based on reviews authors have explored leadership style, motivation, ethical values, people management, team building, planning, strategies, decision making, moral values, governance, tactics, principle of control etc, from Ramayana, which provide important lessons for enhancing managerial effectiveness. The foundation for management and leadership is derived from our Indian ethos, spiritual values and culture. This research paper signifies the practical applicability of great epic “Ramayana” in understanding and developing management practices for the effectiveness.