Integration of Human Values in Stakeholder Engagement for CSR – Illustrations from Indian Public Enterprises

Abstract

Several public sector undertakings in India and across the world have taken up corporate social responsibility (CSR) initiatives in education to promote social welfare. The effectiveness of these initiatives depends on the level of stakeholder engagement in them. Integration of human values ensures that stakeholder engagement becomes holistic leading to co-created value for the benefit of all involved. This paper discusses a holistic values-based framework of stakeholder engagement inspired by the philosophy of Bhagawan Sri Sathya Sai Baba. Illustrations from the CSR initiatives of public sector undertakings in India have been provided to stress the benefits of integration of human values in stakeholder engagement.