Business Government and Society- India

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BUSINESS, GOVERNMENT & STUDIES – HANDOUT SUMMARIES

On 1 August 2009

Contributors:
Saurabh Verma
Amartya Singh
Sadanand Subray Kamat
Ashis Nayak
Jagadeesh R
Om Prakash H
Mayank
Rohit Jaiswal
Bhawna Jain
Alok Jain
Humbad Abhishek Nirmal
D Dineshkumar
Shikha Rawat
Rangineni Srikanth
Hemant Agarwal
Ravi M V
R Umesh
Ram Sevak
Sandeep S Nair
A V Naga Chaitanya
Chayan Mukhopadhyay
Anuprakash
Kapil Makhija
Rajeev Kumar

[pic]

Contents
Introduction4
Overview4
A New Era for Business4
How to Manage government and Influence Politics5
The Corporation6
The Social Responsibility of Business is to Increase its Profits6 The Corporation’s Rise to Dominance7
The Biggest Contract10
Merck Case A12
Role of Government12
The Public Sector in a Mixed Economy12
Excerpts from Capitalism and Freedom14
Parkinson’s Law15
Regulation15
The End15
The Looting of America’s Coffers17
Unintended Consequences17
CUTS18
Interest Groups19
The Logic19
Sharing the Spoils; group equity, development and democracy21 Social Movements in Crisis22
Social Capital26
The Prosperous Community26
The Market and the Polis27
Introduction in ethnic conflicts and civic life29
Media30
News Media & Nonmarket Issues30
A Propaganda Model36
Media and Governance39
Caste matters in the Indian media42
Sense Making by the Public42
Equity, Symbols, Numbers, Rights42
Environment46
Environmentalism: Ideology, Action, and Movements46
The Truth about the Environment46
A Global Marshall Plan47
Green and Competitive: Ending the Stalemate47
Business Strategies for Climate Change48

Not clear:

Interest Groups, page-20

Social Movements in Crisis, page 23

Start with: Social Capital page-27

Introduction

This document is a compilation of the BGS Summaries painstakingly put together by a handful of students of the PGP 2009-2011 Section E. Hope this is enlightening to one and all.

Overview

A New Era for Business

Scott C. Beardsley, Sheila Bonini, Lenny Mendonca and Jerry Oppenheim “A New Era for Business” Stanford Social Innovation Review, Summer 2007

Saurabh Verma (0911343)

The article is consultants from McKinsey who talk about how the future of companies is intricately tied to the socio-political issues of the times. These days, the issues are far more in number - and social lobbyists far too strong – for companies to ignore them. The solution is to adopt a strategic long-term approach, and engage with NGO’s, Govt. etc. for two reasons:

• These issues can affect their reputations if the companies are seen as culpable

• Companies may capitalize on the issues as business opportunities

Companies have a social contract (Hobbes, Locke, and Rousseau) as a set of laws, regulations and obligations that guide corporate behaviour. These vary from industry to industry, region to region.

• It can be formal, like regulations/ laws (what Enron faced),

• Or informal, like labour standards, healthy food (related to obesity etc.), environment

These are complex – eg. A bank is expected not to lend to companies that are harmful to nation, but also grant equal access to all.

The 5 R’s:

Risk: Predict and handle new risks that result from changing societal expectations. (If you react late to an issue, it might hurt your reputation. Eg: ‘green’, ‘climate change etc.)

Renewal: Approach societal expectations as opportunities for growth (new products, processes, markets). (Eg: Hybrid cars)

Regulation: Shape policy agendas to reflect society’s and company’s interests.

Relationship: Identify stakeholders to build relationships. (NGO, Govt.)

Reputation: Foster public trust, not just with PR, but with action. (One wrong step can cause great harm. Promote consumer concerns, and demonstrate your progress on them)

How to tackle these issues:

Prioritize Issues: (Public concern and...
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