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The world is in chaos. Stress, anarchy, social evils, unrest, war, strife and a struggle for existence are continually on the rise. Lord Krishna in Bhagavad Gita Verse 3.31 says that yadyadacaratisreshthatadtadevatarojanah, sayatpramanamkurutelokas tad anuvartate(whatever action a great man performs, common men follow. And whatever standards he sets by exemplary acts, all the world pursues) (Prabhupada2003). According to Trichy and Cohen (2002), 'in a competitive environment, organizations need leaders who can determine the direction; who can redirect the organizational energies and decide what needs to be done.' Are our current world leaders are exhibiting the right principles on which to lead one's life and setting the right examples? Ancient scriptures such as the Ramayana and the Mahabharata (which includes the Bhagavad Gita), amongst other wisdom, contain Life Management principles based on which mankind can lead happy, successful and fulfilling lives. If leaders make a thorough study of these principles, explain them in society and follow the principles, the world would be a much better place. This paper strives to dive deep into our ancient scriptures and explore the principles of life management which act as a solid foundation for long term development and prosperity. The extant literatures have explored the principles such as human capital development, stress management and copying strategy, and management principles from Bhagavad Gita (Chandekar, 2012;Verma and Singh 2014;Satpathy 2008).This study intends to have an in-depth study of Bhagavad Gita to clearly bring out the Life Management principles useful for our day to day life. The paper utilizes the methodology of Hermeneutics to scrutinize several editions (authors) of the Bhagavad Gita including Bhagavad Gita As It Is interpreted by Prabhupada (2003) to arrive at the principles. Following are some principles drawn from the Bhagavad Gita: o Stress is inevitable in this world, but suffering is an option. Those who are spiritually strong develop the quality of absorbing pain without being disturbed. o Ati sarvatra vivarjitah. Excess of anything is bad. The Gita says in Verse 6.17 that one can mitigate all miseries by performing Yoga and by being regulated in one's habits of eating, sleeping, recreation and work. o The Art of Working is to work with knowledge and detachment as one's duty towards the Supreme. Verse 2.47 describes the art of working in this world. o Instead of focusing on too many projects at a time, better to focus on few.