Industry leaders unveil CSR plans at CII-CCI summit on Conscious Capitalism
Thursday, March 11, 2010
Industry leaders unveil CSR plans at CII-CCI summit on Conscious Capitalism

New Delhi: The State Bank of India’s Chairman Mr O P Bhatt on bank’s HRD initiative on conscious capitalism said, “After a successful nationwide programme ‘Parivartan’ in which all 2 lakh employees of SBI were involved, employees had demanded repetition of such a programme at the organization. And as a part of which our unique programme of ‘Citizen SBI’ was launched. It has completed first phase and next three phases will be over in about two years.”

Mr Bhatt said this while delivering a keynote address, at the Conscious Capitalism summit organized by Confederation of Indian Industry (CII) and Conscious Capitalism Institute (CCI) in city today, on Large Scale Business Transformation: The ‘Citizen SBI’ Initiative.

He talked about the bank’s initiative which is a part of its Corporate Social Responsibility and aims to enhance employees’ self-awareness not only towards their work but in overall behavior and personality with inner sense.

The Information Technology (IT) sector in India has always focused on high quality delivery and hence could maintain the growth rate, said Mr S Gopalakrishnan, CEO & Managing Director of Infosys Technologies at the summit.

Mr Gopalakrishnan (Kris) while speaking on ‘Conscious Leaders – Conscious Business: Firms of Endearment in India’ at the summit said that after global economic downturn, the company is looking more at improving its manpower skills and would double the investment in training. “We have already increased the levels of training in last 12 months. That is what we have been doing since the global economic downturn. However, we have retained the growth of 30% to 35% with margins higher than the industry standards,” Mr Gopalakrishnan said.

This is because Infosys is a conscious business. He also added that the IT industry has changed the socio-economic environment as there are 2 million people employed in IT and they come from background in which about 40% of employees’ parents are not even Class 10 passed. “The total number of employed in IT and other industries in the periphery of IT is about 20 million,” he said.

Dr Shubhro Sen, Co-founder and Executive Director of the Conscious Capitalism Institute said that the institute is bringing unique innovations to leadership development in India. “We are developing the first ever conscious business management simulation game to help students and leaders to understand the implications and nuances of conscious business decisions in a compressed time frame.” This will greatly help leaders to see the differences in outcomes between “businesses as usual” versus businesses that practice conscious capitalism. In addition, ideas of conscious capitalism are deeply Indian and can be brought to other countries as they are contemporary and successful and can be found in traditional wisdom.”

Dr Raj Sisodia, Chairman of the Conscious Capitalism Institute and Professor at Bentley University said, “Effective practice of conscious capitalism is becoming essential as in a survey conducted in the US, there were hardly 2% people who said that they believed that the CEOs in general are ‘Very Trustworthy’. There is a need of building trust among entrepreneurs and society for sustainable development.”

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