India's economic slowdown is the result of 'profound fear and distrust' among people who act as agents of economic growth. The tearing of our social fabric of trust is the fountainhead of our current economic malaise. Here, it is somewhat pointless to try and fit an economic slowdown into neat boxes labelled ‘cyclical’ or ‘structural’. Both are likely to coexist at any point in time.
Thus, any verdict on a slowdown (or recovery) has to decide on whether it is predominantly structural (PS) or predominantly cyclical (PC). India has had a myriad of structural impediments over decades: poor infrastructure, distortions in the markets for land and labour, an inadequately skilled workforce, non-transparent governance etc. While thriving markets are critical for growth and prosperity, recent events demonstrate the importance of a strong and effective regulatory framework and proper supervision. Indeed, the crisis is the result of both market failures and policy failures. Companies have demonstrated a wide variety of experiences in regard to the financial crisis and its effects on corporate sustainability. While some firms experienced serious setbacks in achieving environmental and social goals which others firms claimed to have been ramping up sustainability efforts during the recession. However, most firms report that their corporate sustainability strategies have not been significantly affected by the recession. Instead these firms have maintained sustainability as an important part of company culture and values despite the financial crisis. Sustainable Management Practices involve the balanced use of resources in the production of goods and services but there exists a three-fold paradox between
Role of Sustainability Management Practices(SMP) in achieving high economic growth
Original, empirical, high quality research papers/working papers are invited from the scholars, researchers, practitioners, academicians, social workers and students for interactions at the conference. Sub-themes are only indicative; papers on other related areas may also be submitted. Authors of selected papers would be given an opportunity to present the papers on the day of the conference and publication.
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