ENABLING SOCIAL AND BUSINESS RESPONSIBILITY
IN OUR GLOBALISED WORLD

AIM OF THE CONFERENCE

In our rapidly evolving and intricately interconnected global landscape, businesses’ role is not just limited to making profits. Corporations are now recognized as influential powerhouses and they hold the power to transform economies, societies, cultures, and ecosystems. Given their ever expanding influence in the society there is a compelling need for businesses to operate with an elevated sense of ethics and responsibility.

This imperative arises from the convergence of economic, environmental, social, and technological forces, thrusting into the spotlight an urgent demand for businesses to wholeheartedly embrace ethical principles and shoulder responsibility for their impact on various stakeholders.

In an era characterised by the exponential advancement of technology, the boundaries between the local and global, and between corporate and societal realms, are rapidly fading. Businesses no longer exist in isolation; they are integral facets of a larger, interconnected ecosystem encompassing employees, customers, communities, and the environment. Consequently, the repercussions of their actions ripple far beyond immediate financial gains. The public, regulatory bodies, investors, employees, and all stakeholders now seek ethical and responsible conduct as non-negotiable prerequisites in business operations.

The ramifications of unethical practices and disregard for acting responsibly is multi-fold. Instances of environmental degradation, the exploitation of labour, corporate misconduct, and the violation of human rights have sparked public outrage and eroded trust in businesses. For example, the global financial crisis of 2008 laid bare the catastrophic consequences of unchecked corporate behaviour worldwide. These incidents serve as stark reminders for businesses to navigate their course with unwavering integrity, complete transparency, and unswerving commitment for the welfare of all stakeholders.

Furthermore, the imperative for ethical business conduct is inherently entwined with the concept of sustainable development. As businesses grapple with the challenges of climate change, resource scarcity, and social inequality, their ability to contribute constructively to these issues becomes pivotal. Responsible practices that meticulously consider environmental impact promote social equity and ensure economic viability emerge as essential prerequisites for businesses to thrive long-term and safeguard the planet for future generations.

XLRI's first International Conference on Enabling Social and Business Responsibility will serve as the crucible for an in-depth exploration of the role played by ethics and responsibility in the contemporary business milieu. Subsequent discussions will traverse diverse dimensions, ranging from the cultivation of responsible leadership and the pursuit of sustainable development to the ethical implications of emerging technologies and the pressing need for conscious capitalism. The path ahead beckons us to collectively commit to fostering a business environment wherein ethical considerations and responsibilities are not merely optional add-ons. Still, they are deeply ingrained core values that fundamentally shape the modus operandi of businesses, fuel innovation, and bolster their contributions to the well-being of society as a whole and to all stakeholders alike.