Forum: HRD Forum
Speaker: Ms Namita Purohit, Founder of ‘Build Worthy’,
The Entrepreneurship Forum of VIA organized a talk by Ms Namita Purohit on the topic “More Profit when the Focus is Beyond Profit” at VIA.
Through various scenarios, real life examples and personal stories Ms Namita Purohit talked about how a purely profiteering mentality can actually lead to lower profits as one tends to lose the big picture. Customer Focus, Environment and creating shared value suffer in the process.
She quoted many studies from elite publications like Harvard Business Review and books like “Built to Last” that tracked the growth of various organizations over the 1900s and concluded how those companies that have a focus beyond profit tend to offer over 6 times more in shareholder value than those who focus only on profits.
A broader purpose which encourages inclusive growth, takes care of the environment, encourages competition and other businesses to grow along with them tend to have higher employee productivity and retention as the employees see how their work contributes beyond the bottom line of the company.
Ms. Namita emphasized through metrics as to how when wealth generation is based on ethics and the timeless values from the Indian ethos , such wealth generation is sustainable and such companies last over generations. She referred to how according to the Indian ethos wealth generation will grow dramatically when such wealth generation does not harm the environment and does not take away the livelihood of another. Very importantly she also referred to the concept of Loka Sangraha from the Gita which details how wealth generation must lead to the growth of society as a whole. Thus social Responsibility which was an inherent value in all economic and entrepreneurial activities in the past has now been lost and has to be encouraged or rather forced through Corporate Social Responsibility.
She gave a well rounded view to the entire subject by referring to various papers and studies and also principles from the Indian Ethos and Bhagavad Gita.
Namita Purohit is the Founder of BuildWorthy. Net training and she has personally trained over 5000 people in the science of knowing themselves and aligning their work and life according to their nature. She has trained at various elite institutions and runs regular training programs as well in Mumbai. She is an ex- Microsoft Employee from USA and was won a Gold Star Employee Award during her stint at Microsoft. She believes in the all round development of people including the social, spiritual and economical paradigm in their growth.
At the outset, Mr Girdhari Mantri , Chairman VIA CSR Forum in his opening remarks stated how important it is for the present day companies to adopt ethical business practices and not focus entirely on making profits. According to him the ethical practices are imperative for a sound business growth and in turn economic development of the country, the reason why the government has made CSR activities mandatory for all Companies.
The speaker was accorded a warm welcome by Mr Mantri and the program was conducted by Ms Anita Rao, who also proposed a vote of thanks.
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