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Corporate Social Responsibility in India – An eyewash or an eye opener?

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  CSR or Corporate Social Responsibility is an often used, but misused term, in corporate parlance. Almost everyone in the corporate world knows of the term. But what does it entail and how does an organisation go about it? Scratch below the surface, and more often than not, most people would only know the full form of the abbreviation and little else. Does their organisation practise CSR? What are the various CSR initiatives the organisation undertakes? Is it the collective responsibility of the organisation as a whole or just restricted to the CSR Committees? The questions are many, but the answers are usually very few. Why? Is it because Indian organisations practise CSR simply because it’s a mandatory requirement? Or is it because they truly understand the spirit of CSR and are desirous of giving back a small portion of their profits to the society, they got everything from? Let’s look for some answers…   What is CSR? Corporate social responsibility (CSR) is a self-regula

Doughnutonomics! Satisfy your appetite for a better brand!

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  It's time for us to savour the goodness of 21st Century economics. It unleashes the power of playing within limits and achieving our goals. With a six-stringed guitar, you can entertain the world and within the boundaries of a well-defined tennis court, Serena Williams can beat any opponent in the world. Boundaries make us excel and that is at the core of Doughnutonomics. Doughnitonomics sets 11 goals that humanity has to achieve and never fall short of. These are the basic needs of the people like food, water, shelter, energy, political voice etc. But in reality, as Kate Raworth puts it, we are falling short in many of these parameters already. She calls this the 'Social Foundation'. If we think of the economy as a doughnut, these goals fall in the middle hole of the doughnut and people need to be taken out of this hole into the circular area above of the doughnut.  The upper boundary of the doughnut is what she calls the 'Environmental Ceiling'. We have already

Aligning Purpose in creating a Sustainable Organisation

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  The pandemic has set up new challenges to business leadership. Clubbed with the technological advancements leadership is transforming.   In the new normal it is imperative that business leaders should rethink on their strategy for sure success. Fundamentals of leadership such as vision and strategy would continue to be the guiding force for organisational growth, but in the era of the technological advancements of AI, IoT, Robotics, one should not forget that these would be enablers and the real aspect of leadership is in creating a humane organisation by putting people first. Inclusive leadership, understanding the differences of opinion and aligning each individual goals and propose with that of the organization’s purpose becomes the key factor. In the age of great resignations, the core values of the organisation need to be communicated effectively and inculcated into the organization through customised immersion techniques. The first step in creating sustainable organisatio

The Tragedy of Vision.

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  Shortsightedness has always been a challenge for many business leaders. The  'Tragedy of the Commons'  in economics explains how individuals neglect the well-being of society in pursuit of their gain. It leads to over-consumption, untimely depletion of shared resources. Mark Carney, Governor of the Bank of England, coined a similar concept or an extension of the above-said idea through the  'Tragedy of Horizon'.  He says the current generation is least bothered about fixing a future problem. Again, the allusion is towards  'myopia'  that keeps human beings from doing their bit to fight climate change. But the farsighted understand and anticipate broader global impacts on property, migration, political stability, food and water security etc. In a world of uncertainty that the pandemic has left behind, most of us are groping in the dark for the right approach to take us ahead in these most challenging times. The millennials and Gen Z customers are increasingly b

Storytelling; the Science of Sympathetic Synchrony.

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  Does it resonate well with the audience? Is it in sync with the marketing cohort we are looking for? We often ask these questions with or without a deeper knowledge of the facts. While the whole world is after these trending marketing jargons, let's take a few minutes to get deeper into its science. Vibratory physics informs us that everything is a vibration. Even stationary objects are vibrating. To put a little poetry into it, the 'Theory of Strings' says that there are invisible strings creating music inside every atom. If everything is a vibration, then everything can be influenced sympathetically by bringing it to synchrony through harmonic relationships that already exist in this universe. A grain of sand is better cohered through synchronous vibratory relationship when it becomes part of a single piece of stone or a heap of sand. Since the potential for harmonic relationship already exists in the universe, everything gets into what is technically called 'Sponta

Helping Students to continue education

Due to the pandemic and the closure of physical schooling, the education of more than 247 million children enrolled in elementary & secondary schools was impacted. Schools have resorted to online classes to help the students, but the children from the lower strata of the society were dropping out of schools, due to financial strain on families and having no access to the internet & digital devices. A responsible intervention was the need of the hour. Muthoot FinCorp true to its higher purpose of transforming the lives of the common man decided to come out with a helping hand to ensure the children continue their education. They launched an interest-free loan named RestartIndia Vidyadhan Gold Loan to help parents buy digital aids for their children. The service was available across India and customers welcomed it wholeheartedly with a total disbursement of over Rs. 50 Crores to more than 50,000 customers within the first month of launch. Organic BPS was fortunate enough to b

The Purpose is different from Mission.

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  The Purpose is different from Mission. A mission can be summed up as ‘we make X products for Y consumers.’ Walt Disney, for example, could have said, ‘we make cartoons for kids.’ That describes what the company does. But that doesn’t explain the core reason why Disney exists. A purpose, by contrast, put forward an enduring vision that will last for hundreds of years, based on values that never become outdated. For example, Disney’s Purpose is ‘to use our imagination to bring happiness to millions.’ If Purpose and Profit come into conflict, visionary companies put Purpose first. As a result, the companies that stand the test of time are the ones that focus less on short-term profits and more on a long-term Purpose.  Companies need to create profits to sustain themselves, but profit is not their reason for existence. ‘Profit is like oxygen, food, water and blood for the body’, Jim Collins says. “They are not the point of life, but without them, there is no life.’