Exploring the role of business in society

Abstract

Of late the idea that business is a ‘force for the good of society’ has come under scrutiny. The conventional view that as long as businesses act legally and ethically, they need not concern themselves with larger social goals is now being challenged the world over. Businesses are more conscious of the environment and sustainability, or of possible adverse impacts on society and consumers. In India, liberalisation in the 1990s led to Indian business becoming globally competitive. However, impressive growth rates have been accompanied by a growing gap between the rich and the poor. This has brought into sharp focus the role of business in society and the crucial question; to whom does the wealth created belong? Scholarly and practitioner perspectives on the subject are followed by a round table discussion with a panel of entrepreneurs from the corporate sector and leaders of civil society debating on several contentious issues.