In the words of Dr. Jamshed J Irani, Director,Tata Sons at the 27 th Annual Meeting for a session on Corporate Social Responsibility at the US India British Council:-
The primary aim of the industry should not only be to make money. The aim should be to serve customers and other stake holders and the result will surely enable the process of wealth creation.
Part of the wealth thus created should be benefit the community and the nation.
In the creation of wealth restrain must be taken not only to protect the environment but also enhance it, so that this world, which as they will be borrowed by our children get a better place to live in.
Leadership in business is thus living by these ideals and leading by example.
In today’s world the only constant is change. Leaders must therefore, anticipate change, drive it, make it acceptable to all stakeholders and turn threats into opportunities through their vision and actions.
All this brings wellness to an individual and to the future. The idea of the industry is hence not only creation of wealth but also bridge the gaps between have’s and have nots.
“ We see corporate responsibility as a catalyst for growth and innovation” said Nike CEO Mark Parker. “It is an integral part of how we can use the power of our brand, the energy and passion of our people, and the scale of our business to create meaningful change.”
Flow diagram depicting various strategies by NIKE on CSR
Nike not only moves CSR to the centre of its business strategy but it is also making a difference to its supply chain where 800,000 workers work in contract factories. That is the area where it can make the greatest difference.