SOCIAL ECONOMY: THE NEW ECONOMY OF NEW ERA

(facts and figures: business outlook; September 2009)
After having a knowledge feeding session in telecom symposium last to last week, I actually inclined towards reading something which not only update me but also move my innerself.
Mrinal is again “ONTRACK” ... Thanks to all those intellectuals who have enriched me with their knowledge these days...
I recently came across the September outlook business issue on 50 social entrepreneurs, and how they are making India better. And it turned around my whole perception of looking at business. Till now I was unaware of this fact that business is not all about “Money Making”, It’s also about Ethics and responsibilities too.
Mr. M.Anand , Editor, Business outlook rightly questioned, “what is going to be out next new economy?” Extending his words I want to say that the rise of internet spawned new entrepreneurial fervour towards the end of the last decade. Even the head of development Banking at a private sector, had the same opinion that social economy is the forthcoming economy, and the social entrepreneur will make a far greater impact on India than the ones we have seen so far.
This very time, I truly understand that how rapidly people are transforming into society-oriented from last decade community-oriented genre, its another story that they are still self-oriented.
But an another unconventional path is opened...who works to maximise shareholder value, a social entrepreneur’s primary aim is to create value for society at large, especially for the disadvantaged section. This drive to create shareholder value is incidental, often even non-existent. And the very fact is that these social enterprises are not at all loss-making ventures...they are actually contributing to nation’s revenue.
They have been excellent business people with superb business sense and often make profits. The bouquet consists of flowering personalities like SALONI MALHOTRA, who is generating jobs in TN through her regional BPO.
ANITA &KALYAN PAUL are empowering rural communities.
PRASHANT LINGAM & ARUNA KAPPAGANTULA are receiving India’s business Industry.
STAN THEKARKARA is helping rural producers sell their products to urban consumers and get better returns.
RAJENDRA JOSHI has made life better for Gujarat’s urban poor.
GITA RAM & NEELAM CHIBBER is talking rural artisan places.
UMADEVI SWAMINATHAN gets farmers better prices for their produce.
PREMAGOPALAN is empowering women through her retailing initiative.
ISHITA KHANNA is helping spiti’s villagers build a sustainable livelihood.
ADARSH KUMAR plans to organise poor producers into profitable firms.
ARBIND SINGH has championed the cause of marginalised.
KAUSHALENDRA is connecting vegetable farmers and vendors.
And every one comes out ahead.
SOLOMON JP is linking workers in the informal sector with customers.
WILLIAM BISSEL has organised Fab India‘s worker into companies, and many more.
Ergo with the trend going we can predict or certainly social economy is going to be the face of new economy.
Cheers!!
finally something really good is about to come.
-mrinal

Business Ethics: necessity or luxury

During a Gd session recently happened in my college for the placement assistance team, On the very first day i came across a quite a general topic but it was difficult for me to react, with appropriate words at that time, so now as i have studied a bit about "business ethics", I would like to share my own perception about the whole topic.
Business ethics where they stand in present scenario.After the collapse of wall street last year, an old age debate of business fraternity about being ethical has been rekindled.
Truth is that without ethics,business is not even legitimate.The collapse of firms like lehman brothers and bear sterns has threatened those who are unaware of the menace created by eroding basics of a capitalist economy and being excessively greedy,as the mad rush for revenue and profit generation is no9w reaching its most logical downward trend,the time has come to revisit some of the basic concepts of being ethical in business.
We have had enough of an era when the companies were openly flouting the legal and financial norms to benefit there stake holders.
But business ethics where they stand in last year's disaster rather than a necessity they had became a commodity.
The whole edifice of the new generation of the economy is based on trust , so we can say that the importance of ethical value has also increased with the time.
But the very thing is transparency and clarity in corporate behavior, which is only able to attract both customers and investors.
-mrinal