Corporate Social Responsibility: a philosophical approach from an ancient Indian perspective

In this paper, an attempt has been made to explore the philosophy of Corporate social responsibility (CSR) from an ancient Indian perspective. A review of literature in CSR shows that there are thousands of articles which have been written by several academics on this subject from numerous perspectives, but limited articles written about CSR from the philosophical, historical and from the ancient perspectives. As a result, this article not only fills the gap in the literature, but also provides insights on CSR philosophy from the ancient Indian perspective. In the Indian context, the origin of CSR can be traced from the Vedic literatures such as the Valmiki Ramayana, the Mahabharata (includes the Bhagavad-Gita) and the Puranas. These literatures were written more than 5,000 years ago in Sanskrit language. However, in this paper the authors will explore CSR philosophy from Kautilya's Arthasastra, which was also written in Sanskrit in the 4th century BC. This paper is based on hermeneutics, a qualitative research methodology which involves study, understanding and interpretation of ancient or classical text. By using the above methodology, the authors reveal some ancient lessons on CSR, which can provide guidance to corporate leaders today. In a nutshell, the Kautilya's Arthasastra provides an inside-out approach to CSR, which is development of the individual leader's self conscience, contrary to the western approach that takes an outside-in perspective. The leaders and the role they play in corporations are crucial in ensuring transparency, good conduct and governance towards the ultimate aim of achieving CSR.