The Power of "Spiritual Capitalism"
Two successful social entrepreneurs demonstrate the impact of applying tech business leadership to solving the problems of the world's poor.
By M.R. Rangaswami, SandHill.com
Nov. 25, 2009
On a recent business trip to India, a fellow Silicon Valley business executive was impressed by the management philosophy of the companies we visited. "The founders stay long after the companies become successful... They bring in family members to take part Social causes and philanthropy are a key part of everyday business"
This socially-responsible management style which I call, "Spiritual Capitalism" is not unique to India. However the country's dramatic social challenges do tend to spur a significant amount of philanthropic action by its countrymen and women.
As we celebrate Thanksgiving, SandHill.com spoke with two of I.T.'s business leaders - and active philanthropists - Infosys Technologies co-founder Narayana Murthy and Sycamore Networks co-founder and chairman Desh Deshpande - about their success with the Akshaya Patra Foundation, a non-profit devoted to feeding and educating underprivileged children. The leaders explain the success of Akshaya Patra, how they became involved in their philanthropic efforts and how other technology executives can find a way to increase their practice of social capitalism.
Find the Right Cause
Passion drives successful individuals to become intensely involved with a philanthropic cause. Akshaya Patra became a labor of love for Desh Deshpande, the group's USA Board Chair, and Narayana Murthy, a key supporter of Akshaya Patra since its inception. By applying their considerable professional skills and passion for change, these tech industry leaders helped create a social organization that aims to feed 5 million poor school children by 2020.
The philanthropic community has applauded Akshaya Patra's work. Last week, the organization was honored with a 2009 Tech Award which recognizes technical solutions that benefit humanity and address the most critical issues facing our planet and its people. In fact, the commendation was accompanied by a $50,000 cash prize.
Akshaya Patra also received a $10,000 grant from the SHG Foundation for developing innovative ways to help underprivileged youth. (Click here to read more about my recent visit to Akshaya Patra's operations in India.)
In October, legendary Indian business leader Narayana Murthy delivered the keynote address at the organization's "One Million Mark Celebration" in the Silicon Valley. The event recognized the achievement of feeding 1 million schoolchildren each day.
Murthy explained the urgency of the Akshaya Patra's mission and the potential for spiritual capitalism to impact young lives.
Narayana Murthy: There is a section of the Indian population that does not have enough income to obtain basic education, health care, nutrition and shelter. This population plays an important role for the future of India if we hope to consolidate and build on the positive economic moves that have been made so far.
In order to ensure that this happens, we have to make sure that every child goes to school and gets a basic education. But nutrition is critical to the learning process: In order for children to absorb new information, their stomachs must be full.
Akshaya Patra began to offer hot meals at school as an incentive for less-fortunate children to attend. Now, Akshaya Patra feeds 1 million children in seven states of India. Feeding a million children has not happened anywhere else in the history of the world. Therefore, liberating the power of technology and ideas has been extremely important to achieving this level of assistance.
The results have been extremely positive. We have many case studies of how the children have grown taller, gained weight, and performed better in school and business - and many students have gone on to become experts in engineering, banking and other professional fields.
-
This socially-responsible management style which I call, "Spiritual Capitalism" is not unique to India. However the country's dramatic social challenges do tend to spur a significant amount of philanthropic action by its countrymen and women.
As we celebrate Thanksgiving, SandHill.com spoke with two of I.T.'s business leaders - and active philanthropists - Infosys Technologies co-founder Narayana Murthy and Sycamore Networks co-founder and chairman Desh Deshpande - about their success with the Akshaya Patra Foundation, a non-profit devoted to feeding and educating underprivileged children. The leaders explain the success of Akshaya Patra, how they became involved in their philanthropic efforts and how other technology executives can find a way to increase their practice of social capitalism.
Find the Right Cause
Passion drives successful individuals to become intensely involved with a philanthropic cause. Akshaya Patra became a labor of love for Desh Deshpande, the group's USA Board Chair, and Narayana Murthy, a key supporter of Akshaya Patra since its inception. By applying their considerable professional skills and passion for change, these tech industry leaders helped create a social organization that aims to feed 5 million poor school children by 2020.
The philanthropic community has applauded Akshaya Patra's work. Last week, the organization was honored with a 2009 Tech Award which recognizes technical solutions that benefit humanity and address the most critical issues facing our planet and its people. In fact, the commendation was accompanied by a $50,000 cash prize.
Akshaya Patra also received a $10,000 grant from the SHG Foundation for developing innovative ways to help underprivileged youth. (Click here to read more about my recent visit to Akshaya Patra's operations in India.)
In October, legendary Indian business leader Narayana Murthy delivered the keynote address at the organization's "One Million Mark Celebration" in the Silicon Valley. The event recognized the achievement of feeding 1 million schoolchildren each day.
Murthy explained the urgency of the Akshaya Patra's mission and the potential for spiritual capitalism to impact young lives.
Narayana Murthy: There is a section of the Indian population that does not have enough income to obtain basic education, health care, nutrition and shelter. This population plays an important role for the future of India if we hope to consolidate and build on the positive economic moves that have been made so far.
In order to ensure that this happens, we have to make sure that every child goes to school and gets a basic education. But nutrition is critical to the learning process: In order for children to absorb new information, their stomachs must be full.
Akshaya Patra began to offer hot meals at school as an incentive for less-fortunate children to attend. Now, Akshaya Patra feeds 1 million children in seven states of India. Feeding a million children has not happened anywhere else in the history of the world. Therefore, liberating the power of technology and ideas has been extremely important to achieving this level of assistance.
The results have been extremely positive. We have many case studies of how the children have grown taller, gained weight, and performed better in school and business - and many students have gone on to become experts in engineering, banking and other professional fields.
-
