Over the past several decades, the corporateworld has experienced a pronounced increasein focus on organizations’ ethical behaviorsand responsibilities towards their environments. This is evident in the shift infocus from shareholder value (i.e. Maximizing profit to stakeholder value,where companies are striving at balancing people, planet and profit. The new tendency is a consequence of the fact that progressively more power rely withs take hold ers, who demand transparency in organizational communication and expectcompanies to acknowledge their impact ontheir surroundings.
As a responsible corporate, SterliteTechnologies Limited (Sterlite) too is engaged in several CSR initiatives, expressed through various communication tools and NGOs. In line with this, Sterlite Tech Foundation – the CSR arm of Sterlite – hasbeen set up. This latest initiative focuses oncreating sustainable livelihoods for local communities, as well as those who belong tounder privileged section of the society. The concept of the project is to buildcommunities that are more skilled andcapable of sustaining themselves independently by capitalizing on the company’s expertise, knowledge and competencies, rather than merely providing continued financial support. It directly provides solutions to the critical community problem of unemployment, through a method, which is “development” orientedand lays the foundation for long-termsuccess of the society.