Empathy As Cornerstone of Business

When we talk about building trust and for businesses to be responsible, the first thing is that we must conduct ourselves with the highest standard of integrity. Integrity is fundamental to everything. If there is a lack of integrity, there is a lack of character. But there are a few things which must be emphasised which perhaps are even more basic. In fact, they are so basic that we don't think about them as matters and we often give them a pass.

The East India Example

A bit of history: India was colonised by the East India Company before becoming a part of the British Empire. The company, operating like a modern businesses, maximised wealth with no regard for the people of India. Despite acting within the British government’s framework, it violated fundamental values of human dignity and decency. The issue was the company’s excessive power and influence, leading to actions driven solely by profit without humanity and empathy.

Why is this relevant today? Although none of our companies hold as much power as the East India Company, collectively, businesses wield significant influence. We must go beyond our established frameworks and ask fundamental questions about our responsibilities to society, workers, and the environment. While corporate social responsibility (CSR) is frequently discussed, it’s crucial to understand the vast scope of our responsibilities.

Connecting With The Realities

To address this, we must first think collectively and act together. Individual actions within our corporations are good, but collective efforts are essential. This involves continuous reassessment of expectations and responsibilities, demanding clarity, honesty, and firmness. Apart from operating ethically, businesses must adhere to ESG or sustainability frameworks. These frameworks are now critical to business operations and should guide CSR budgets to address fundamental needs rather than mere statutory compliance.

We must accept that responsible actions come at a cost, which we should willingly bear. This involves collectively setting expectations and committing to these matters. Most importantly, those who shape business directions must connect deeply with the realities of our country and the world. Understanding the struggles of the ordinary person is crucial to comprehending our responsibilities. This cannot be an intellectual exercise alone; it requires experiencing the hardships of everyday life, seeing the struggles of inequality, and recognising the lack of basic human necessities.

Leaving our comfortable environments and going into the field is essential. It teaches us about the real India and what truly needs to be done. Only by immersing ourselves in these experiences can we develop a genuine sense of the challenges faced by many and the responsibilities we hold in creating a sustainable future.