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Inclusive Business for Sustainable Growth

In: Mandated Corporate Social Responsibility

Author

Listed:
  • Ajit Pattnaik

Abstract

Inclusive businessInclusive business is a businessBusiness that provides goods, servicesServices and livelihoodLivelihood on a commercially viable basis on the scale to people living in the base of the pyramid by integrating them in the businessBusiness value chain. It focuses on the poor as businessBusiness partners rather than just as potential producers or consumers. There is concentration of global wealth in the hands of a few and inclusive businesses may help in de-concentration and enable rational distribution of wealth among all. The mandated CSRMandated CSR in IndiaCSR in India is not necessarily promoting inclusive businessInclusive business . The relevant provisions in the Indian Companies Act 2013Companies Act 2013 do not explicitly mention inclusive businessInclusive business , but the spirit is towards inclusive developmentInclusive Development of the society by utilising the resources of the businessBusiness organisation. innovationInnovation is the key to inclusive businessInclusive business and it helps companies stay relevant. The corporates in India have huge opportunities to innovate and get into inclusive businessInclusive business in various fields crucial to the common man’s needs.

Suggested Citation

  • Ajit Pattnaik, 2020. "Inclusive Business for Sustainable Growth," CSR, Sustainability, Ethics & Governance, in: Nayan Mitra & René Schmidpeter (ed.), Mandated Corporate Social Responsibility, pages 161-173, Springer.
    • Handle: RePEc:spr:csrchp:978-3-030-24444-6_9
    DOI: 10.1007/978-3-030-24444-6_9
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