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Responsible Business Practices For A Sustainable Society
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For a corporate entity to survive in India it needs to ensure its own economic growth, provide developmental tools for the society and become a sustainable business unit. There are many top performing businesses in the Indian IT sector, industrial division and other corporates that operate on the responsible business module. They follow the Corporate Social Responsibility (CSR) module and perform outside the normal model of sustainability. Such companies perform for the betterment of the society and engage in community service activities, which aren’t mandatory as per the laws of the nation.
These activities are not necessarily performed for their economic viability or to bring monetary success for the company. They are called as CSR activities, which are favorable for the welfare of the society and to promote ecological sustainability. Along with social welfare and ecological sustainability, they work with an intention of becoming the leader in sustainability. It adds to the USP of their business and also gives them an opportunity to give back to the society they function in.
Functions of Business Responsibility
The CSR concept was originally created to measure a company’s role or involvement towards the overall social and economical progress of the society. A responsible business works with an intention of achieving various common goals in the Indian society that are aimed towards the following
• Work with an intention to promote equality, diversity and human rights
• Utilizing and manufacturing resources that are safe to maintain an environmental balance and promote a sustainable lifestyle.
• Focusing on the protection and restoration of environmental stability
• Providing value to the patrons and to avoid from engaging in any sham or fraudulent marketing practices
• Transparency, morals and responsibility towards the products that are introduced in the market.
These principles of CSR activities are responsible to make a business successful, responsible and dependable for a sustainable society. For these initiatives to be implemented, effective leadership is extremely important. An effective leader will help to build an efficient society, which will bring about a substantial change in the existing norms on which the society works. For this to happen, it is essential for organizations to develop and create a sustainable lifestyle within the society. One of the most efficient tools for an organization to learn and develop is having a competent leader in sustainability.
Role of Leadership in a Sustainable Business
Rather than the age old and traditional leadership practices, individual initiatives and approaches empower an innovative approach towards development. Leadership qualities like cognitive thinking, diversity management, organizational skills, adaptability and talent management are extremely important. If a leader has all the required qualities, it becomes easier for him/her to implement specific changes that promote a sustainable pattern of living in the society.
The industrial and corporate sectors are prime mediums to introduce and promote sustainability in the society. Hence it is important for them to have a successful and effective leadership that can guide the society and the country towards a sustainable lifestyle.
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