Rejuvenating the Concept of CSR through the Lens of Ancient Indian Wisdom

Abstract

Corporations function as legal entities within society and hold a social responsibility toward both business and the community. The accountability for the outcome of their operations is being recognized. Organizations now acknowledge that conducting business ethically is essential for long-term social and economic sustainability. This has underpinnings in ancient Indian philosophy, that emphasizes universal peace and well-being since long. The deep-rooted spiritual foundations reinforce the commitment to Corporate Social Responsibility, commonly known CSR and the preservation of our environment for future generations. This article seeks to examine the nature of CSR from a global perspective while tracing its origins in ancient Indian wisdom. It explores the integration of spiritual principles from Indian traditions into the modern framework of corporate responsibility. The primary objective is to gain insights from ancient teachings that establish a spiritual connection with CSR theories. Given this focus, the study adopts an exploratory approach to investigate the philosophical underpinnings of CSR through the lens of Indian heritage. This paper deals with Carroll’s philosophy of CSR which is the foundation of Indian framework of CSR and relate the ancient lessons related to social responsibility of business from all ancient wisdom and found that current CSR framework is nothing but rejuvenated form of our ancient thoughts. Based on the literature review, it was observed that many scholars have attempted to search the linkage of ancient Indian wisdom with management theories, models, & leadership style but rare studies written on CSR and its historical background. Consequently, this article addresses a gap in the existing literature and offers valuable insights into the subject. In summary, it can be inferred that ancient wisdom promotes an inside-out approach to Corporate Social Responsibility (CSR), which plays a vital role in fostering ethical conduct, effective governance, and transparency—key elements in fulfilling the ultimate objectives of CSR.