|
The pendulum swings alarmingly,
suggesting the need to understand the
secrets of the business organization to serve for the social purpose and benefit. And
the time has come to rediscover the definition of "stakeholder capitalism." Today, companies
are resorting to the corporate social
responsibility with an aim to take the best from society
and returning the best to it. This might not be true
for many companies but it can be capitalized to generate profits and also to meet the
social expectations of the people.
Individuals as consumers have grown very vigilant and they have an understanding of
an adulterated product and deficient services. The secret behind extending the corporate
social responsibility by many organizations is to have
an affective transformation of a consumer to a
loyal consumer. In the cutthroat competition and
fragile economic environment, organizations have to
sit on the shoulders of giants to see the future
ahead and to build a brand image and goodwill in
the society at large. At the same time, there is a common thread of development and potential
gain to the society as well and also the
individuals which are influenced by the same.
The landscape is too bleak and unless there is
a merger of the boundaries of social expectation
and business profits, there will be no guaranteed growth and development of the economy,
and hence society. The corporate social
responsibility is a way the organizations can give back to
society what they have earned from it and, at the
same time, adopting ethical measures in
operations, productions and management. Whether is
Jet Airways, Amul or IBM—all need to have the balance between the social demands,
expectations and future along with their business goals.
In this world of competition, "survival of
the fittest" reigns supreme. And today, there is
no business which will not think of expanding its gains, rather than just going for mere
survival. Any businessman or an entrepreneur has a
natural instinct to be an innovator, coordinator, risk
taker and speculator and somehow there is a sweet secret that in pursuit of a business goal,
companies end up fulfilling the needs and requirements
of their consumers. They also have an impact on
the developmental stages of the economy and have a potential to act as a driving force to the
economic system. |
