CORPORATE Versus SOCIETY
Companies create the resources to boost that permit social development and welfare. Theirlong-term survival is dependent on social trust. Therefore companies cannot look other way from the social expectations.
The basic objective of business is to develop, produce and supply goods and services to customers. This is requiredto be doneto allow companiesmake profit.TheConstitution allowsvoluntary spirit of people to regulate, govern and self discipline. The company is no different in its essence of existence,’that is to cater to the needs
of the society’.
It is an entity which generates profit to bring value to the nation. As companies facethe challengesof globalization, they are increasingly aware that corporate social responsibility(CSR) can havedirect economic value. A number of companies with good social and environmental records indicate that CSR activities can result in a better performance andgenerate more profits. Research has shown thatthe CSR programmes influenceconsumer purchasing decisions. Here the Society expects corporates to play their part as a living organism which can sense, perceive, feel and respond to the needs of the society in their limited geographies.
|Indiansociety wantscorporate India to contribute to the growth of the country by indulging in activities which are labour intensive and thus creating wealth for the masses. This can be done, andthere is an enormous scope for raisingprofitabilityby contributing tothe followingindustries :|
Companies may look into indulging inmultiplying crop yields ,generatinggrowth in demand for farm labour. Raising rural incomes consequent to higher productivitywithmultiplier effects, boostingdemand for farm and non-farm products and services. These willstimulaterapid growth of employment opportunities in other sectors.
This industry creates a wide range of job opportunities. The industry is stable, diverse, challenging and providea wide range of job categories like sales, supply chain, finance, marketing, operations, purchasing, human resources, product development, and general management. This industry can be a major driver in the growth of the country for next decade.
ACII-Mckinsey report saysin the past, India did not tap into its manufacturing exports potential to the fullest. Going forward’Made in India’ could become the next big manufacturing exports story. The global trend to manufacture and source products in low-cost countries is likely to gather strength over the next ten years, particularly in the skill-intensive industries where India has a significant competitive edge over other countries.
Business is the cornerstone of prosperity in every society.Companies createresources which boostssocial development and welfare. Therefore companies’ basic commercial operations andthe long-term survival of companies arepartly dependent on maintaining relationships of trust. Deterioration of such relationships will jeopardise the ongoing development of the company. Experience shows that companies with an international outlook, whichtakelong-term approach, are often able to maintaincustomer relationships and hencesuccessfully developtheir operations.
It is very much in the interests of any company to beahouse of good corporate citizens . Companies whichhaveclear identity andbusiness concept often find it easier to handle and integrate ethical and social values. Eventually theytakeenvironment into account. Having clear business objectives makes it easier to formulate and implement goals based on values and norms both within the company and among the general public.
Good profitability, environmental accountability and social responsibility areconnected tooneanother. These areessential for meetingexpectation of people. India has a great heritage of corporate like the Tatas, Birlas, Dalmias and others who have contributed tremendously to the betterment of society. We also see a new genre of corporates like Infosys, Wipro and HCL coming in a big way to work for the social development of the country.Indian corporates areon the way to redefine theprofit to the world which is driven by the intrinsic value and collective consciousness of well being than mere economic gains.