Human Development & the Corporate Sector: The Anonymous Benefactor

Abstract

The interdependence between the corporate world and the society is evidently visible in the economic, social, ecological and inclusive development of the region where a corporate has evolved. This evolution of the private business houses has laid the foundations of sustainable relationships with the community at large. But yet given the resources, reach and impact of this sector, its imprecise relation with the human development of the population can be referred to as that of the ‘Anonymous Benefactor’. There are numerous examples of corporates adopting villages, running hospitals and training centres, conducting awareness workshops, bringing about a positive change at the community level, providing employment to masses. It’s time to acknowledge the role of the corporate sector as a change agent in social development and welcome such developmental activities through the creation of win-win partnerships. Human development is also at the core of the government’s development agenda, it is for the government to establish incentives and encourage industry to come up with new developmental models that address issues like manpower shortages, infrastructural deficiencies in hitherto remote areas and civil society concerns relating to costs and quality of services. Uttar Pradesh not only has a large spread of industry but is also the source of captive workforce. This must be seen as an endowment for reaching out to the masses, thus instead of imposing financial contributions on corporates its capacity, reach and expertise should be leveraged through effective partnerships. There is a need for mechanisms that can streamline the public funds in the social sector through partnerships that align the multi-dimensional impact and social behaviour of the corporates, and together endorse a constructive role in the pursuit of the goals of human development. In order to push the development agenda in a mission mode, it is recommended that realistic and operational models of engagement between the Government and the corporate sector are jointly explored and addressed. The era of globalization where India transformed itself to ‘India Inc’, also saw a multi-faceted development in the presence and impact of corporates. Today, the role of corporates doesn’t only involve provision of goods and services but has grown to become the source of livelihood, empowerment and community development. This research paper focuses on how the private business houses have established deep rooted relations with the community and how this may be seen as a potential partner for using the public funds in an effective way.