Prof Naresh Singh
Executive Dean, Jindal School of Government & Public Policy, O P Jindal Global University
Dr Singh Is Professor and Executive Dean, Jindal School of Government and Public Policy; Director of the Centre for Complexity Economics, Applied Spirituality and Public Policy (CEASP), Co-Director of the Centre for Legal Empowerment of the Poor and Senior Fellow at the Jindal India Institute. He has a transdisciplinary PhD in Environmental Sciences, with more than three decades of public policy experience in senior positions in the United Nations and the Federal Government of Canada.
Prof Naresh Singh at the Defining Responsibility Framework, an India 2047 - Centre of Excellence Workshop
Prof Naresh Singh
Executive Dean, Jindal School of Government & Public Policy, O P Jindal Global University
Key Points
- Suggesting a paradigm shift in the purpose of corporations, moving away from the traditional profit-centric model towards one where making the world a better place is central, with profitability as a by-product.
- This aligns with the growing emphasis on corporate social responsibility (CSR) and environmental, social, and governance (ESG) initiatives.
- This idea reflects a broader trend in business toward recognising corporations' interconnectedness with society and the environment.
- By prioritising purpose alongside profit, companies can contribute positively to society while still fulfilling their financial responsibilities to shareholders.
- This approach acknowledges that businesses have a role to play in addressing societal challenges and promoting sustainable development.
Recommendations
Re-articulate the Purpose of the Corporation
- Consider reframing the purpose of corporations from solely profit-driven to also include making the world a better place, while still making a profit.
- This shift emphasises a broader societal impact beyond financial gains.
Purpose-driven Business
- Advocate for businesses to prioritise purpose alongside profit, aiming to contribute to societal well-being while still generating revenue.
Focus on Purpose
- Encourage a shift towards prioritising purpose over mere output. This involves aligning business goals with societal benefits, which may require a transition over time.
Collaborative Vision Articulation
- Work together to articulate a vision that integrates social responsibility and environmental sustainability into the core purpose of corporations.
- This collaboration can involve stakeholders across various sectors to ensure a holistic approach.
