Abstract:

How often do we see businesses of modern world really following the principles of stakeholder theory in true letter and spirit, safeguarding the interests of large number of stakeholders not just their customers and also treating society at large as their stakeholder? Are businesses and management practices truly consistent with social contract of organizations with society? The prevalence of business with societal well-being concept is rare despite the fact that world at large is the advocate of societal well-being. The case of Akhuwat Pakistan presents various insights for modern business practitioners; small business models that have question marks with respect to their sustainability in early years can do wonders at later stages and become success case studies if business objectives are linked with social development and entrepreneurial capacity building. Akhuwat is the example where corporate social responsibility and thrust for poverty alleviation is not just a marketing tool to remain alive in popularity contest but the mechanism and inspiration to serve and love humanity. This case study is narrative in its methodology and focuses on key success factors of the organization under study. The rational and social lens application reveals that exploration of best management practices is pertinent for businesses today to replicate them by adopting universalistic management perspective for ultimate success and exaltation.

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