Amongst various definitions of Management, one of them declares it as the activity of controlling something, or of using or dealing with something in a way that is effective. Management style refers to a distinctive manner or custom of behaving or conducting oneself. In the field of management, the challenge of any study is the absence of a single conclusive solution to a management problem. There exists a perennial need to identify robust & practical management styles that help in mastering the art of management. Theoretically, there could possibly be as many styles as the number of managers. It is evident that each style as enunciated by any one school of thought excludes some dimensions of management which are then captured in other styles by another school of thought. This paper aims at identifying, codifying, sequencing, and articulating various Management Styles based on Ancient Indian Wisdom. Using Qualitative Data Analysis methodology & applying the Grounded Theory Approach, based on both contemporary thought as well as the Guna (Nature) theory, given in the ancient Indian texts, this paper evolves six universal management styles, viz, Management by Self Transformation, Management by Good Counsel, Management by Time, Management by Luminous Unactivity, Management by Passionate Activity, and Management by Indolent Activity.