Business Model for CSR: Insights from Indian Philosophical Thoughts

By : Mrunmayee Rath

Page No: 219-231

Abstract
New paradigms of doing business with an eye on social responsibility are evolving as the world is facing a host of problems, such as ecological imbalance, destruction of environment, corruption in corporate and global financial crisis. It is seen that the corporate have utterly failed concerning ethics, responsibility and sustainable business practices. Commencing from the ‘Stakeholder’ concept the Corporate Social Responsibility (CSR) models have moved a long way, but still fail to meaningfully address the problem. Thus, it has become a compelling need for the business in particular, and the society in general, to urgently come up with an innovative approach towards this. The Indian philosophy is the oldest living tradition with an ethical doctrine derived from its metaphysics giving it the capacity to provide solution to various ills of life. In this paper an attempt has been made to propose a holistic model of business which is ethical, responsible and sustaining based on the insights gleaned from the rich Indian philosophical thoughts.

Author :
Mrunmayee Rath : Lecturer, Department of Philosophy, Sri Satya Sai College for Women, Bhubaneswar.