General Management @ Knowledge Zone



What is the Business of Business?

- by Saurabh Goswami & Malini Pande *

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If we were to modify the balanced scorecard as follows: -

Figure 4

The Corporate Societal Initiative addresses issues such as identifying long-term impacts of corporate behavior and identifying ways and means of improving relationship with the primary stakeholders with a view to secure the long-term financial sustainability of the organization.

The following table outlines some examples of specific corporate societal initiative objectives and measures: -

Objective Specific Measure
Employee Satisfaction Satisfaction Indices; Attrition Rate
Community Responsibility Grants to local community development projects
Strategic Intent No. of board meetings focusing on corporate societal initiatives; no. of full time managers working on societal initiatives
Environmental No. of projects undertaken to mitigate adverse effects of the production process, etc.

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* Contributed by: -
Saurabh Goswami & Malini Pande,
II Year Students,
IIM Kozhikode.