You are on page 1of 8

case study

S
anjeev Nanda, Akhilesh Nanda and Deshraj Deshraj spent the first few years after graduation on Wall
Patil were the core team of Prosperity Corp. Street in New York. After putting in long hours and several
and founders of the company. The Nandas gritty years as an associate and analyst at one of the best
were a father-son team who came from a financial firms in the city, he made a break and decided
computer engineering background. Sanjeev to go back to business school, after which he spent the
had spent many years in corporate India in the computer next several years doing investment banking and private
software space. As an early entrant into the software equity deals at several different premium banks in
industry, his expertise lay in the technical aspects of Manhattan, and soon rose to make partner at a Fortune
product development and refinement based on 100 financial bank.
customer specifications, needs and demands. His son After several lucrative years overseas, Akhilesh and
Akhilesh left for the United States soon after he graduated Deshraj decided to return to India, citing both familial
from engineering college. After doing an M.S in Computer and opportunistic reasons for their decision to lay roots
Engineering at a premier institute in Silicon Valley, in the country of their birth. Furthermore, motivated by
California, he decided to supplement his education with the immense potential and opportunity for growth in
an M.B.A from an ivy-league graduate school of business, their home town of Bangalore, they decide to start a
where he met Deshraj Patil. While Akhilesh primarily company in the computer software space, providing
focused on honing his technical and engineering skills customized software to clients. They invited Sanjeev to
during the early part of his career, he spent the remaining participate in the company as an equal partner due to
time occupying several management positions, and his ability to contribute capital to the start up, his
eventually rose as high as director of engineering at a network/goodwill in the industry and his strong technical
Fortune 500 company in America. On the other hand, background.

34 DECEMBER 2008
case study

corporate
karma By Ritu Biba Koppula

Eventually, after many years of hard work, the company


issued an initial public offering that was over-subscribed
them now? We're the brains, and we certainly don't need
any outsiders to help us and take all the credit for our
and recorded a phenomenal stock price increase as soon hard work. What do they mean by coming in here and
as it was listed. Prosperity Corp. was well on its way to telling us we need to make corporate social responsibility
being regarded in the big-leagues of best-in-class software the cornerstone of our vision, and one of the foundations
companies in Bangalore. of our business?
During a recent board meeting, an external HR consulting Akhilesh: Dad, I appreciate your viewpoint, but I think
firm, DoGood Inc. was invited to provide Prosperity Corp. DoGood has given us food for thought. The three of us
with ideas to improve its image in the community, might have been brains enough when we were an
especially since Prosperity Corp. had experienced emerging company, but now we're on the threshold of
unprecedented success, and was regarded as an integral entering the big leagues, and we need to leverage the
stock pick in every investor's stock portfolio, from advice of experts, especially, if we think they are sincere
knowledgeable stock consultant to savvy housewives in their advocacy, and have a good understanding of our
looking to make money in the market. vision for the future. They are helping us grow, and that
DoGood Inc. strongly recommended that Prosperity growth does not only mean one-dimensional financial
Corp. should make a break from operating like a growth.
traditional business - defined as one that is based and Deshraj: With due respect, Sanjeev Sir, I think DoGood
built around a profit centric working model that catered was trying to make a subtle distinction between doing an
to just that, nurturing the bottom line and maximizing act of charity versus creating an opportunity for
profits, without necessarily acting ethically or responsibly economic sustainability, where the former is a one-time
toward stakeholders, or making contributions for the do-good act (and cannot be truly defined as corporate
betterment of society. In the situation that ensues, the philanthropy) not necessarily sustainable, while the latter
three founders gathered together after having given demonstrates more potential for social responsibility i.e.
much thought to DoGood's proposal. being good stewards when faced with limited resources.
Sanjeev: Hello, Akhilesh and Deshraj, before we begin, I I would like to think of Prosperity Corp. as a philanthropic
just want you both to be aware that I was always against organization.
having so called "HR experts" come into our company, Sanjeev: Charity, philanthropy, these are all words. But if
and tell us what to do, under the guise of providing us you want to make a difference, I think we are perhaps
with advice as to how to run our operations. God knows better of doing charity. I know lots of organizations who
we've been able to successfully manage without their will gladly accept a check from us, and using my contacts
interference since we started in 2003, so why do we need in the press, I can even organize coverage of our

It appears that the gap between altruism and gain can only
be bridged if Prosperity Corp. is able to answer the question
of whether it's business is all about profit, or whether it can
transcend the balance sheet for greater good.
DECEMBER 2008 35
case study
generosity. That way we can get away with making a small sanitation, infrastructure), rather than rely on companies
donation, and in the eyes of our peers we will also emerge to intervene and do the job. My recommendation is to
as being considered "socially responsible". Moreover, our save the money and set it aside in a fixed-deposit that
auditors can include our socially responsible actions in will yield us a safe return on our investment in the short
the annual report, and our customers, stakeholders and term.
competitors will also give us high praise, especially when Deshraj: Let's not make a decision this moment, but use
they learn that our contribution was fully tax deductible. this time to brainstorm with each other. I am sure we will
Of course, we have to keep our purse-strings tight, and all make the right decision for the company, from a moral,
not make impulsive investments in any and every scheme financial and professional perspective. Having said that,
that comes up. in defense of socially responsible investments, and moral
Akhilesh: I think that is where we might need to change persuasions made by corporations, empirical studies
how we are looking at things… we need to be more have tried to show the linkage between corporate social
visionary. I am sure you will agree that Prosperity, though responsibility and financial performance (business
successful today, is in business for the long term. Our profits), and I think the results have been promising. Did
horizon is the next 50-100 years. My experience has been you know that PepsiCo President and CEO, Indra Nooyi
that when large corporations like us practice a socially also believes and advocates the mantra of "Performance
responsible doctrine, not only do they set an example with a Purpose". In a speech to the American Chamber
for peer companies, but they also enable suppliers and of Commerce and the India/Confederation of Indian
customers to become agents of change. In the case of Industry (2006), she explained that one of PepsiCo's most
market-movers, this change can have a significant global important responsibilities lay in delivering excellent
ripple effect. Did you know that American firm Walmart, financial performance at the same time that they
Inc. is regarded as one of the one-hundred largest improved the world. While acknowledging that managing
economic entities in the world, has an intimidating supply this was a "balancing act" of no small proportion, Nooyi
chain (because it only produced 8% of what it actually reasoned that the two could work in synergy with each
sells in stores), and a large global footprint. It is forced to other in such a way that "by doing good (for the world),
think like a country rather than a company - this is no business (could) also do well for itself".
small feat! Though Prosperity is not nearly as big as Akhilesh: Traditional corporations and new age
Walmart, my personal belief is that we must give back to businesses are recasting and formulating their business
society by influencing our stakeholders to become agents models to incorporate socially responsible doctrines
of change, thereby we can hope to leave a sustainable (based on the belief that customer satisfaction and social
inheritance for our children. interest are an integral part of achieving economic
Deshraj: Akhilesh, I think we are on the same page. To success, and that they are both equally important means
further add to what you believe in, I wanted to share to the end) into their business practices. It would be
with you all something I learnt recently about world- prudent for us to take a page from their book if we'd like
class companies. Most best-in-class companies believe to aspire to be considered cutting-edge, world-class,
in sharing their profits, and from the recent management global players in the domestic and international software
conferences I have attended, it seems to me that the industry.
value proposition of giving back to the community can Sanjeev: These things are all very well for big companies,
be vital to a company's financial success. In theory, they have the money and the resources, and have been
nurturing the economic interest and the social around for many years. We are a small shop. Making
conscience of the corporation are emerging as key risky investment can hurt us financially. Thinking of a
benchmarks in the measurement and determination of legacy is too far ahead for me. I'd like to see my share
corporate achievement. Practicing good corporate price go up, and cost go down, all in the near term. That
karma is a broad concept, and can mean creating a work is the way business has always been done. You may be
environment of mutual respect and trust, practicing a the new generation, but Noble prize-winning economist
green policy, investing in employee well-being, Milton Friedman's classic philosophy comes to mind.
encouraging diversity, ethical transparent reporting and Friedman's view of business for a profit-motive is not
good corporate governance. These things don't happen without support from those who even today contend
in a day, we must make long term investments and be that energy spent on divergent activities takes attention
sincere in our endeavors, which over time will reap away from the bottom line - increasing profits, creating
financial and non-financial gains. jobs and wealth, thus lending credence to the belief that
Sanjeev: Son, we have to keep our eye on the bottom- corporate social responsibility is only a side-act, not core
line, it is fine to have an open-pocket policy and spend to the main purpose of the business.
money on some unnecessary projects in the community, Akhilesh: True, Friedman has a point, but I think that its
who knows whether our funds actually make a difference application is limited in our current business
anyway. Besides, we pay our taxes honestly, so should environment. Today, a corporate entity is a live one, it
not the responsibility of social problems in our country has more obligations than to just make money. For
be addressed by the government? Politicians in power example, did you know that our HR head, Ram Prasad,
should effect legislation toward making the right recently talked to me about the emerging batch of MBA
investments in the country and solving social issues students from the best management school in Bangalore.
(health care, education, climate change, global warming, He said that prospective candidates considering choice

36 DECEMBER 2008
case study
job opportunities and seeking future employment in the consequences.
workplace, place a high premium value on company Akhilesh: Some of our competitors have recently come
philosophy and the code of ethics it practices in the area under negative criticism when they practiced corporate
of social responsibility. He thinks that we need to think social responsibility under a guise, often referred to as
about Prosperity's ability to stay competitive in the job 'green-washing' (defined as the failure to embed the
market, as well as our ability to hire and retain top talent. correct values and beliefs of social responsibility among
We cannot forever ride the wave of being the hottest new stakeholders). My understanding is that they delegated
start-up-gone-public company, to attract the best brains. matters of corporate social conscience to their public
Besides, statistics show that it is generally twice as relations experts who marketed a superficial stance to
expensive for us to hire a new employee, so perhaps we interested parties in the hope of creating a worthy
are better of keeping turnover in check and retaining our corporate image, and the illusion of corporate legitimacy.
existing employees. This will also prove financially Corporate Social Responsibility comes down to ethics,
beneficial in the long run. and I am sure we all agree, that above all we are an
Deshraj: Yes, and lets also not forget that our staffing ethical organization - perhaps that is one of the biggest
organization may be most instrumental in advancing our strengths of our partnership. If done right, investments
company's efforts in the area of corporate goodness of corporate social responsibility could yield several
because recruiters are most often the first point of benefits to our company, such as in motivating
contact for prospective candidates. And, if the candidates employees, strengthening our brand and in providing
happen to be Generation X/Y, then it becomes even more benefits to society. Corporate Social Responsibility pays
essential for recruiters to not only present the financial homage to the ideal that capitalism is virtuous.
success of the organization, but to also showcase the Sanjeev: But what will we tell our shareholders? That we
company's investments in social capital and demonstrate are squandering the company's money? I take moral
its track record of social performance via non-financial issue with the wasteful use of resources, and don't want
reports. Besides, the last thing we want to do is incur to incur their wrath. We need to be convinced ourselves,
negative press that may very well cause shareholders to before we can seek approval from our stakeholders.
disinvest in our stock, leading to a drop in our share There is more work to be done, we must seek outside
price, and not to mention several other negative financial council to help us after all.

ANALYSIS
Look beyond providence to secure future
Prabir Jha
Senior VP & Global Chief - HR & Corporate Communications, Dr. Reddy's Laboratories
Prabir Jha, an alumnus of St. Stephen's College, Delhi and XLRI Jamshedpur and has an
impeccable academic and professional record. After doing his Masters, Prabir was selected
for the prestigious Civil Services and as a bureaucrat handled the entire gamut of HR & IR
issues of the Indian Ordnance Factories. On his switch to the corporate world after almost 10
years in the government, he has worked for organizations like Thermax, Mahindra British
Telecom and now, Dr. Reddy's. He has handled all areas in HR, with special interest in
Change Management, OD interventions, Global HR Strategy, Employer Branding and Leadership
Capability Development. He is on the CII Panel for HR &IR for Andhra Pradesh and has been
a regular contributor of articles in reputed journals, apart from a faculty at prestigious B -
schools and training establishments.

T
he dilemma that Prosperity Corp is seized with entrepreneur, riding the wave, Akhilesh & Deshraj
is more complex than what it seems. The issue represent a more cosmopolitan world view. With a
is not whether corporate social responsibility premier education pedigree and blue chip career
is relevant or not. It is more of how the exposure, they are naturally inclined to take a larger view
leadership team identifies the philosophy of of the organization's future. The freedom of debate
its existence. This is even more complex for an among the three is a healthy one - that augurs well for
organization like Prosperity Corp that has tasted the corporation. The generation gap has not
phenomenal financial success. Revisiting a business circumscribed the quality of management debate.
philosophy that has ensured tremendous financial However, the views to CSR are quite bi-polar. One sees
performance is not easy. The challenge of managing the the agenda at best as a necessary devil, to be ritualistically
short-term expectations with long term sustainability is addressed with a 'small donation', drummed up for
not an issue that has an obvious response. The challenge public consumption. Otherwise, it is a drain of resources,
is not just an HR issue. It is more a philosophy that the a cost that does little for the shareholders and a debit
founding fathers must debate and agree upon. overall. At the other end of the continuum, is the view
At the heart of the problem is the divergent that 'growth does not only mean one-dimensional
background of the promoters of Prosperity Corp. While financial growth'.
Sanjeev Nanda has been the classical successful Very clearly, Sanjeev has a myopic perspective on the

DECEMBER 2008 37
case study
future of the organization. Short-term financial recognizing the larger context in which the firm operates.
performance is his principle driver. He does not come An organization may not grow; possibly even exist, if the
across as someone wanting to leave a legacy. He obviously fundamentals of the long term are not addressed.
has no intention of being an institution builder. As long Increasingly clients seek to work with more responsible
as the short term financial performance expectations partners, sensitive to various social parameters and
are met, he would see it as adequate. Obviously, there is environmental expectations. Not acknowledging these
an Icarus syndrome - what has bred past success will changing business imperatives may be disastrous for
continue to ensure future success - that is getting created. Prosperity Corp. It may be left in a world where business
Success has created both complacency and insularity, if relationships suddenly disappear. CSR, thus, is not just
not sheer arrogance. for an odd publicity requirement. Nor is it just a feel
Obviously, Akhilesh & Deshraj represent the New good for the auditors. It really is about fool-proofing the
World. Exposed to global best practices, they understand future business of Prosperity Corp.
that short-term financial performance does not In an era where there is a need for crafting a distinctive
guarantee an ever-flourishing company. They are open competitive edge, CSR may come handy in positioning
to external influences, accept the changing expectations Prosperity Corp as a more responsible organization,
of potential employees and clients and recognize the committed to the long term interests of the planet and
need for a more comprehensive business model. In its people. It could be vis-à-vis its peers an icon for
essence, they believe in the doctrine of Sustainability, change, attracting the best of business partners,
which looks at business more holistically. It is about what employees and investments. A strong and authentic
is otherwise known as the "3P Approach" - People, Planet commitment to CSR would naturally add to its brand
reputation across its multiple stakeholders, not only
A strong and authentic commitment adding to its shine but also insulating it to natural
downturns in business cycles. Prosperity Corp could start
to CSR would naturally add to its small, but start it must to at least not be left behind. But
done with true commitment, CSR could help create a
brand reputation across its multiple competitive advantage as the global empirical data clearly
indicate.
stakeholders, not only adding to its What the founders of Prosperity Corp need to do is
to critique their success and re-validate their business
shine but also insulating it to natural assumptions for the future. As the company has grown
downturns in business cycles. over the years, many things worked in its favour. But this
could be a critical inflection point in its evolution. It is
important to recalibrate the new competition, the new
and Profits. Ignoring any one is perilous with the long clientele, the new workforce that will take them ahead in
term success of Prosperity Corp. this new phase. It is very obvious that the organization
The company would do well to make this initial top must take a more balanced view of its new requirements.
management debate more widespread. Employees, as a There are trade off decisions to be made. But these will
key stakeholder, need to own the paradigm of a more ensure a new philosophical basis for the organizational
sustainable business model. The new age employees, evolution. At times, these issues appear counter-intuitive
including potential recruits, seek in this war for talent but these build a reinvigorated enterprise.
not just financial rewards. The company will need to The HR Head, Ram Prasad, has a huge opportunity
recognize the changing nature of employee value to catalyze the initial conversations on the new
proposition (EVP). In their journey from 'Good to Great', philosophy. In a family promoted firm it is always a
Prosperity Corp will need to realize that a financial reward challenge but a great HR leader must help facilitate this
is a fundamental, but not differentiating, pull for top huge change in organizational thinking. This may also be
talent. The modern day employee seeks to work in an the best time for him to do things which bring in a new
environment that helps meet her various expectations - culture. The organization has a solid track record of
social and environmental responsibility being one of financial performance. A more composite definition of
these. Integrity, transparency, trust are at the root the CSR, more in the spirit of Sustainability, will create a
manifestations of a genuine social conscience, both within stronger organization that will attract better talent, more
and beyond the organization. Not being cognizant of rewarding customers and a more appreciative society.
this could deprive the firm access to some of the best How well the founders agree to the new agenda, sell
minds, or impair its ability to retain them. I sum, it will their new vision and execute on that will determine if
slowly but definitely wilt its organizational capabilities. Prosperity Corp will soar newer heights. The battle of
Can there then be any business? the mind among the founders must go beyond
The other challenge is to interpret Corporate Social generation gap explanations. The right person must blink
Responsibility (CSR). A narrow definition would restrict first and then ensure no tactic dissidence, often a reason
it to pure philanthropy. However, a more comprehensive for subversion in organizations. Prosperity Corp needs
view is to interpret it as Sustainable Development. It will to look beyond providence to secure its future, without
care, not surprisingly, for returns to shareholders. assuming its past success is guaranteed.
However, it ensures a more sustainable organization by

38 DECEMBER 2008
case study
ANALYSIS
Redefine contribution to society
Pankaj Bhargava
Principal Consultant, People Builders
Pankaj Bhargava, Principal Consultant of People Builders, an HR Consulting firm, is an HR
professional, with over 18 years of corporate experience in HR, OD, strategic planning and
sales. He has offered consultancy to organizations like Voltas, CEAT, Kaya, Publicis, Bajaj
Auto etc. His areas of consulting include providing customized solutions in HR in the context
of the business need through HR systems, processes and strategic facilitation. He completed
his PGDM from IIM Kolkata (1991) and before that he completed his B. Tech. from IIT
Mumbai (1987). He worked in sales in HCL for about two years and joined Marico in 1991 as
Assistant Manager Personnel, where he grew to head the HR function as chief-human resources
in 2005. Pankaj's personal passion for HR spurred him to leave Marico and find a new
expression through his own firm People Builders, which he has set up in early 2007.

P
rosperity seems to be at the cross-roads of reaping the benefits.
taking the next big leap from where it has Each one is approaching the topic from their
reached over these years. Contribution to perspective without arriving at a common definition of
society can definitely lead to a long term what contribution to society will mean for them & how it
benefit to the organization. The key issue that will impact them in the short & long term.
they are facing is - what does contribution to society To arrive at a common point of view, they could
mean. consider the following four levels of contribution and
Sanjeev, who is the elder one and is perhaps at the decide where they would like to play.
end of his active work life, seems concerned that in
contributing to society, Prosperity may end up incurring Level 1: Giving honest employment
expenses that could impact its profitability & sustainability
over a period of time. On the other hand are Akhilesh &
opportunities that contribute to the
Deshraj who have been hearing and reading a lot about improvement of the economy.
how great organizations are contributing to society & This is the stage that entrepreneurs go through in the

DECEMBER 2008 39
case study
first few years of the business. This is a contribution that organization misses out in reaping the benefits of these
they need to acknowledge. While the purpose is to build practices. Such organizations fail to recognize the impact
their business and profitability for long term sustenance, that this has on the long term sustainability of the
in providing meaningful employment, they are organization. More so, organizations that on the face
contributing to the economic growth of the society. are very successful and growing at a rapid pace are likely
Ensuring that this does not get impacted and is sustained to be blind to this. Primarily because the opportunity
over a long term is an obligation that the organization cost or the hidden potential of far better results through
has towards the society. In that context, Sanjeev's concern such practices is not easily understood or visible to the
that in embarking on philanthropic objectives that deplete leaders of that organization.
the organization's ability for sustained profitability is valid. At this level, the driver for some organizations
Also, it is important that the three of them recognize becomes the need to prevent negative publicity and word
that they have been making this contribution to the of mouth in the media & society. Those who see the
society since they started up. power of this are likely to do this to gain some competitive
However, it is important to understand that the driver advantage in the talent market as well as the opportunity
of the actions here is largely for the entrepreneur to to get a favorable coverage in media that enhances their
realize his dream of building a business and indirectly status in the market & society. This however need not
contribute to the society. In this scenario, almost any necessarily mean a change in their strategy or the aspects
organization that provides honest employment is that they work on. Also, in this it will still be possible to
contributing to the society and is not differentiated to see the return on whatever little investments that they
that extent. need to make in a reasonably short time frame.

In Prosperity, Sanjeev is perhaps Level 3 - Contribution to long term economic/


community sustainability
operating from a concern that they This is the level that organizations choose when they
have still not reached the required want to become institutions that last beyond the founders
and would like to leave behind contributions that impact
milestones at level 1 itself that will the society and the economy for several years beyond
their lifetime. At this level, organizations take steps that
enable them to take on other are likely to repay dividends over a longer time frame.
However, these could also be linked to the long term
levels. He is also mixing it up with view of their business. For example, if a particular
organization realizes that for it to grow, there will be a
"charity" as a form of returns/ talent shortage over the next decade or so, they could
contribution to the society. choose to collaborate with other organizations in their
industry to set up institutions that produce the required
Level 2: Good corporate citizenship talent. Or they could do it on their own. Or there could
This is the stage where an organization can contribute to be a situation where some materials that they need for
the society in two ways. One is to ensure that they follow making their products is likely to diminish over a period
the laws of the land and contribute by way of taxes etc. of time unless it is invested in. In such scenarios, they
that indirectly contribute to the betterment of the society. could choose to invest in creating producers of that
Also ensuring good return to the various stakeholders material that enables good returns to them as well. In
(internal & external) is a form of contribution. Thus this way they are likely to create a system and relationships
enhancing shareholder wealth through good business that ensure the prosperity and long term sustainability
practices is a means of this contribution. of all stakeholders.
The second way is to adopt good governance practices This is a stage that definitely requires investment and
such as investing in employee well being, encouraging the returns are likely to be seen over a longer term period.
diversity, ethical reporting etc. (the types that Deshraj is At times, they may also turn out to be failed investments
talking about). These practices more often than not do that do not produce the desired result. To that extent the
not call for a major investment, but definitely enhance risk at this level is higher compared to the other two.
the standing of the organization in the talent market. Taking steps at this level requires a visionary thinking
Building a good working culture in the organization helps where the individuals want to build long term institutions
for the society.
the organization in retaining its people and enhancing
This is a stage that may lead to difference in the
their productivity. More importantly such practices also
strategies. The efforts in this stage are likely to provide a
contribute to molding the behavior of individuals. They
long term competitive advantage to the organization and
are likely to become better contributors at the work place
stature in the society.
and society. This is another form of contribution.
Very often many corporate organizations overlook
this aspect and suffer the price of low productivity as
Level 4 - Contribution to long term
well as at times price of negative publicity/ word of mouth environment sustainability
in the market place. Also in not recognizing this level, the This is a stage where the focus begins to encompass not

40 DECEMBER 2008
case study
just the human stakeholders in a foreseeable future but
also the environment that will impact the human
stakeholders in the distant future (perhaps over the next
few generations). In this stage the organization is likely
to adopt practices that ensure minimum harm to the
environment or replenish the environment for what the
organization takes from it.
If the task is to ensure minimum impact to the
environment, it may call for certain investments, the
returns of which are quite unlikely to be visible to those
who make the investments. Even the choice of
replenishing the environment is likely to lead to
investments and perhaps change in strategy that the
organization takes.
More often than not it needs a visionary leader who
sees beyond several generations to choose this level
proactively. Of course, once a situation reaches a
particular level, many may be forced to choose this
reactively for the mere survival of the organization. It is
also possible that when such steps are taken proactively,
the people at large (including all the stakeholders) may
not see its value. The task of the leader who chooses this
level will also then be to educate them.
There is also no hierarchy of levels. Organizations
may choose to exist at different levels at a given point in
time (especially level 1 & 2 where the returns for the
investments made are fairly certain & visible), though if
they have not done level 1 well, they would not have the
resources for adopting level 3 & 4.
In Prosperity, Sanjeev is perhaps operating from a
concern that they have still not reached the required
milestones at level 1 itself that will enable them to take
on other levels. He is also mixing it up with "charity" as a
form of returns/ contribution to the society. Deshraj &
Akhilesh seem to understand the existence of level 2. But
in the absence of a clear think through on what they
need to do, they are also confused about choosing the
right form of contribution to the society.
What they need to do is to understand the four levels,
see its relevance it the context of their business and then
make a choice of where they would like to operate in.
The choice will have consequences on financials as well
as the actions they need to take. It will also have
implications of the horizon with which they see the
business that they have built up - will it end with them,
go beyond their lifetime or go beyond several generations.
The path will be clear once they refine what
contribution to society will mean to them as individuals
and as an organization. HC

CORRIGENDUM
The article “HR manager, are you a bully” printed in our
November 2008 issue, was authored by Prof A G
Balasubramanian, Goa Institute of Management.

The error in omitting the author detail is regretted.

DECEMBER 2008 41

You might also like