Straight from the heart

Cause related marketing seems to be the new way which the corporate world is depending on, to make profits. They have realised that sustenance of their business in the coming days is going to depend a lot on the way they identify themselves with the society and the community as a whole. Consumers today are demanding greater accountability and responsibility from corporations. No wonder this form of marketing is making it as the most exciting area, for in the end it not only benefits the business but also the society. This is an area which is not new to Indian business houses. Long before Bill Gates, Microsoft’s Chairman committed millions of dollars for various social causes, Jamshetji Tata and his family have been following the principle of “give back to the people what you have earned from them.” Back then charity was a headache – something that the government was supposed to do. Yet the Tatas worked tirelessly towards the upliftment of the community.

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Source : IIPM Editorial, 2008

An Initiative of IIPM, Malay Chaudhuri and Arindam Chaudhuri (Renowned Management Guru and Economist)