CORPORATE SOCIAL RESPONSIBILITY

Corporate Social Responsibility is a management concept whereby companies integrate social and environmental concerns in their business operations and interactions with their stakeholders. CSR is generally understood as being the way through which a company achieves a balance of economic, environmental and social imperatives (Triple-Bottom-Line- Approach), while at the same time addressing the expectations of shareholders and stakeholders. In this sense it is important to draw a distinction between CSR, which can be a strategic business management concept, and charity, sponsorships or philanthropy. Even though the latter can also make a valuable contribution to poverty reduction, will directly enhance the reputation of a company and strengthen its brand, the concept of CSR clearly goes beyond that. Promoting the uptake of CSR amongst SMEs requires approaches that fit the respective needs and capacities of these businesses, and do not adversely affect their economic viability. UNIDO based its CSR programme on the Triple Bottom Line (TBL) Approach, which has proven to be a successful tool for SMEs in the developing countries to assist them in meeting social and environmental standards without compromising their competitiveness. The TBL approach is used as a framework for measuring and reporting corporate performance against economic, social and environmental performance. It is an attempt to align private enterprises to the goal of sustainable global development by providing them with a more comprehensive set of working objectives than just profit alone. The perspective taken is that for an organization to be sustainable, it must be financially secure, minimize (or ideally eliminate) its negative environmental impacts and act in conformity with societal expectations. Key CSR issues: environmental management, eco-efficiency, responsible sourcing, stakeholder engagement, labor standards and working conditions, employee and community relations, social equity, gender balance, human rights, good governance, and anti-corruption measures.

A properly implemented CSR concept can bring along a variety of competitive advantages, such as enhanced access to capital and markets, increased sales and profits, operational cost savings, improved productivity and quality, efficient human resource base, improved brand image and reputation, enhanced customer loyalty, better decision making and risk management processes. The World Business Council for sustainable Development in its publication Making Good Business Sense by Lord Holmen and Richard Watts used the following definition Corporate Social Responsibility (CSR) is the continuing commitment by business to behave ethically and contribute to economic development while improving the quality of life of the workforce and their families as well as local community and society at large.(www. http://www.wbcsd.org) Many reputed companies across the world incorporate corporate policies that integrate responsibilities towards the business environment to express their commitment for CSR. CSR at some of leadership companies in India are: TATA Steel the flagship of TATA Group has received a number of awards in recognition of its CSR efforts. The most recent testimony to Tata Steel's contribution is The Energy & Resources Institute (TERI) Award conferred on it in recognition of corporate leadership for good corporate citizenship and sustainable initiatives. Indian Oil, a central government PSU corporate social responsibility (CSR) has been the cornerstone of success right from inception in the year 1964. In ICICI Bank Ltd, largest private sector bank in India, CSR efforts have been and remain integral to its core mission of delivering value to its stakeholders and to the sustainable growth and development of Indias economy. Aditya Birla Group Corporate social responsibility is an integral part of the Aditya Birla Group's value systems. Reliance Industries Limited Group (RIL) has three main CSR activities in community welfare, education and healthcare.

The Corporate Social Responsibility Hierarchy

CSR is considered as operating a business in a manner that meets or exceeds the ethical, legal commercial and public expectations that society has from a particular business. CSR is seen by leadership companies as more than a collection of discrete practices or occasional gestures or initiatives motivated by marketing, public relations or other business benefits. Prof Archie Carroll of University of Georgia was the first academician to present conceptual framework for CSR Hierarchy in his book The Pyramid of Corporate Social Responsibility: Toward the Moral Management of Organizational Stakeholders, Business Horizons, JulyAugust, 1991, . This useful typology is not rigid, however; issues can and do evolve over Economic responsibilities refer to production of goods and services which are of value to society, so that the firm can get acceptable return on its owners investment as well as pay repay its creditors.

Legal responsibilities refer to carry out business within legal framework drawn up by the Government. For example, in the Indian context, automatic retrenchment of workforce at the whims of the management is not allowed. Ethical responsibilities of a company refer to generally held beliefs about behavior in society, e.g. a company should work with its employees and community if it is planning for layoffs, though it may not be required by the company to do so. Discretionary responsibilities are purely voluntary obligations on the part of a company .It can be contribution to philanthropy or provision of crche or construction of sanitary facilities, etc. Both ethical and discretionary responsibilities are considered as social responsibilities. The difference between Ethical and Discretionary responsibilities is that people expect company to fulfill their ethical responsibilities but a few people expect to fulfill their discretionary responsibilities.

Thinking Strategy and Social Responsibility

The combination of socially responsible endeavors a company elects to pursue defines its social responsibility strategy. Some companies are integrating social responsibility objectives into their Missions Performance targets Strategies. The combination of socially responsible endeavors a company elects to pursue defines its social responsibility strategy. Some companies are integrating social responsibility objectives into their Missions Performance targets Strategies.

Mainstreaming CSR
Develop Companys mission One which reflects corporate ambition consistent to changing paradigm, Mission supported by Vision, Giving clear futuristic direction, laying road map for sustainable growth.

Vision:
Vision statements of genuine strategic intent should keep the focus on Wealth Creation for multiple Stakeholders, including the members of its organization (employees),its direct beneficiaries(owners),its economic partners(customers and suppliers) & the larger community in which the organization operates(society broadly defined). A vision identifies what a company is striving for. A vision that ignores the larger role a firm plays in society is likely to be neither noble nor sustainable

Mission:
Mission identifies what the organization is going to do in order to attain its vision. An automobile company may have a vision providing the best personal transportation vehicles to a broad section of society and a mission of making affordable, fuel efficient cars. The mission must balance both the methods and results to be considered socially responsible.

Strategy
A firms strategy explains how the organization intends to achieve its vision and mission. It defines the organizations response to its competitive environment in order to achieve sustainable advantage. The Ansoffs matrix indicates 4 strategies market penetration, market development, product development and diversification. The company diversifying is business in related or unrelated industries .

Importance of Corporate Social Responsibility

Good Things Do Happen to Good People! By: Dianne Taylor

Many business owners and managers see corporate social responsibility (CSR) as something thats nice to do but not really connected to growing the business and profits. Just the other day I had an experience that shows how wrong this is. I took part in a training exercise where half the class pretended to be employers. The other half of the class pretended to be potential employees. We (the employers) had to find a way to attract the employees to come and work for us. Sounds simple? Well I thought so. I was an employer offering flexible working hours, a great salary and career development. Yet my new recruits were undecided. But then I spoke about our corporate social responsibility program and they were suddenly a whole lot more enthusiastic. I signed them up. So it was only a game. But it is a great example of how corporate social responsibility (CSR) can make all the difference to your competitive position. Initiatives such as pro bono work, philanthropy, support for community-building initiatives and environmental awareness can add significant value to your company, and if the program is well designed the benefits far outweigh the costs.

Competitive Advantages of CSR

Being socially responsible creates goodwill and a positive image for your brand. Trust and a good reputation are some of your companys most valuable assets. In fact, without these, you wouldnt even have a business. You can nurture these important assets by being socially responsible.

It is however, crucial that you devise the right socially responsible program for your business. When used properly, it will open up a myriad of new relationships and opportunities. Not only will your success grow, but so will your companys culture. It will become a culture which you, your staff and the wider community genuinely believe in.

1. Corporate Social Responsibility attracts and retains staff:

Socially responsible companies report increased employee commitment, performance and job satisfaction. It is in us all to want to do good (and perhaps be recognized for it). Our lives become meaningful when we realize our work has made a positive difference in some way. It makes all our striving worth it. In fact, a 2003 Stanford University study found MBA graduates would sacrifice an average $US13700 cut in their salary to work for a socially responsible company. By attracting, retaining and engaging staff, doing well for others reduces your recruitment costs and improves work productivity. Its just plain good all round! 2. Customers are attracted to socially responsible companies: Branding the business as socially responsible differentiates you from your competitors. The Body Shop and Westpac are companies who have used this to their advantage. Developing innovative products that are environmentally or socially responsible adds value and gives people a good reason to buy from you. 3. Corporate Social Responsibility attracts investors: Investors and financiers are attracted to companies who are socially responsible. These decisionmakers know this reflects good management and a positive reputation. Dont underestimate this influence; it can be just as important as your companys financial performance. In fact, it may be the deciding factor in choosing to support your company. 4. Corporate Social Responsibility encourages professional (and personal) growth: Staff can develop their leadership and project management skills through a well-designed corporate social responsibility program. This may be as simple as team building exercises, encouraging your employees to form relationships with people they would not normally meet (like disadvantaged groups). 5. Corporate Social Responsibility helps to cut your business costs: Environmental initiatives such as recycling and conserving energy increase in-house efficiency and cut costs. Introducing a corporate social responsibility program gives you a good reason to examine and improve on your spending!

Corporate social responsibility commitments should be in line with the values of your company, customers and staff. Most importantly, they must be based on a genuine

concern for people and the community. You do not want the program to back-fire; making you seem hypocritical. A poor strategy will cause people to become cynical and distrustful of your company. But all in all, corporate social responsibility makes financial sense, adds meaning to your work and makes everyone feel good.

Relation between CSR and Business

The first Corporate Social responsibility of a business is to make enough profit to cover the cost for future. If this social responsibility is not made, no other social responsibility can be met. said Prof Peter Drucker , the famous Management thinker of his time. The managements have to manage their respective companies efficiently with focus on business process management (BPM) so that it would provide benefits to all stakeholders in the environment by generating surplus incomes & making profit. Business Processes are generally identified in terms of beginning and end points, interfaces and organization units including customer unit. A business process model is a representation of companys operation or a specific part of operation. CSR is about how companies manage business in the society to produce an overall positive impact on the society at large.

Companies need to answer two aspects of their operations: The Quality of their management-both in terms of people and processes. The nature of and quantity of their overall positive impact on environment and local communities as well as their employees in the various area

Outside stakeholders are taking an increasing interest in the activity of company. Most look to outer circle-what the company has actually done, good or bad, in terms of its products & services, in terms of its impact on environment and on local communities, or how it treats & develop its workforce.

INDIAN TOBBACO COMPANY

Sustainability is the key to gain competitive advantage- Chairman YC Deveshwar, ITC. ITC Limited or ITC is an Indian public conglomerate company headquartered in Kolkata, West Bengal, India. Its diversified business includes four segments: -Fast Moving Consumer Goods (FMCG) - Hotels -Paperboards -Paper & Packaging -Agriculture Business ITC's annual turnover stood at $7 billion and market capitalization of over $34 billion. The company has its registered office in Kolkata. It started off as the Imperial Tobacco Company of India and was rechristened to India Tobacco Company in 1970, I.T.C. Limited in 1974.

CSR Policy of ITC

Inspired by the overarching vision of making a contribution to the national goals of sustainable development and inclusive growth, ITC has innovatively crafted unique business models that synergies long-term shareholder value creation with enhancing societal capital. This commitment is reflected when ITC measures accomplishments not only in terms of financial performance but also by the transformation ITC has consciously engendered to augment the social capital of the nation. in ITC's 'Triple Bottom Line' approach of contributing to the economic, environmental and social capital of the country. Envisioning a larger societal purpose has always been a hallmark of ITC. The company sees no conflict between the twin goals of shareholder value enhancement and societal value creation. The challenge lies in fashioning a corporate strategy that enables realization of these goals in a mutually reinforcing and synergistic manner.

As a corporate citizen with enduring relationships in rural India, ITC has a history of collaboration with communities and government institutions to enhance farm productivity and the rural resource base. ITC's commitments in agricultural R&D and knowledge sharing have spanned vital aspects of competitiveness - efficient farm practices, soil and water management. ITC is committed to a national agenda of raising agricultural productivity and making the rural economy more socially inclusive. ITC believes that the urgency and scale of these tasks make market linked solutions and innovations more effective and sustainable than capital intensive approaches On 24th Aug. 2010 ITC has completed 100 inspiring years which has been marked by an over arching vision to serve a larger national purpose and agendaIn its 100th year ITC is present in range of business sectors such as FMCG, Paper, Paperboards & Packaging, Hotels, and Agri-business .In FMCG space this includes segments such as Cigarettes, Branded Foods ,Personal care products, lifestyle apparels and Accessories ,Education and stationery products, Incense sticks and safety matches. Today ITC Limited (BSE: 500875) is a public conglomerate company headquartered in Kolkata, India. Its turnover is Rs.26, 259 crores, pre tax profits Rs.6015 crores and a market capitalization exceeds Rs. 100,000 crores. The vision and mission statements of ITC are:-: Vision- Sustain ITCs position as one of the Indias most valuable corporation through world class performance, creating growing value for the Indian economy & Companys stakeholders. Mission- To enhance the wealth generating capability of the enterprise in a globalizing environment, delivering superior and sustainable stakeholder value. ITCs core Values are embedded in its philosophy of trusteeship & the related belief that enterprises exist to serve society and that shareholder value creation is a reward for such larger societal value creation.

HIST0RICAL BACKGROUND
It started off as the Imperial Tobacco Company in 1910, and shares ancestry with Imperial Tobacco of the United Kingdom, It was rechristened to Indian Tobacco Company in 1970 and then to I.T.C. Limited in 1974. ITC has been a leader in the cigarette industry for decades. After Indian Independence the Government policies have put this industry in a disadvantageous position due to raising of excise duties in many national budgets. ITC have therefore been diversifying into areas other than tobacco. In 1975, ITC entered the hotel industry and had been planning to invest in properties at the premium end of the market. The sustainable competitive advantage of ITC has been achieved through strong positioning in all areas of wide ranging business which is at the heart of its competitive strategy. ITCs backward integration strategy. In 1979 ITC promoted Badrachalam Paperboards- a core sector, ecology conscious enterprise in a backward area, as ITCs backward integration strategy. Today ITC has emerged as acknowledged market leader in the Paperboards segment, through its competitiveness and sustainability.

CSR activities by ITC

Mr. Y C Deveshwar took over as chairman in 1996 and he brought focus on corporate governance as an integral part of CSR activities. ITC has done many CSR activities which helped ITC to build strong reputation in market. CSR activities of ITC are as follows:

1. ITC begins GREEN JOURNEY: ITCs green journey began with farm forestry benefiting poor tribal area in 1998. This was followed by social development initiatives with water shade and agricultural development, livestock productivity and womans economic empowerment, primary education health and sanitation. 2. ITCs e-Choupal path breaking initiative (2000):

In the Agri Business segment it is engaged in innovatively leveraging digital technology to transform rural lives and landscapes. ITC believes that the inter-dependence between its agro-based businesses and the farm sector constitutes a sustainable platform to enlarge its contribution to the Indian rural sector.ITC's rural development initiatives embrace several critical areas: Web-enablement of the Indian farmer to help him access relevant knowledge and services to enhance farm productivity The endemic constraints that shackle the Indian Agriculture sector are well known - fragmented farms, weak infrastructure, numerous intermediaries, excessive dependence on the monsoon, and variations between different agro-climatic zones, among many others. These pose their own challenges to improving productivity of land and quality of crops. The unfortunate result is inconsistent quality and uncompetitive prices, making it difficult for the farmer to sell his produce in the world market. ITC's trail-blazing answer to these problems is the e-Choupal initiative; the single-largest information technology-based initiative.ITC's diversified business portfolio has enabled the Company to create and nurture numerous farmer partnerships in many value chains.Enriching thefarmer with knowledge elevating him to a new order of empowerment. E-Choupal delivers real-time information and customized knowledge to improve the farmer's decision-making ability, thereby better aligning farm output to market demands; securing better

quality, productivity and improved price discovery. The model helps aggregate demand in the nature of a virtual producers' co-operative, in the process facilitating access to higher quality farm inputs at lower costs for the farmer. The e-Choupal initiative also creates a direct marketing channel, eliminating wasteful intermediation and multiple handling, thus reducing transaction costs and making logistics efficient. Despite first green revolution Indian agriculture sector has not been able to achieve the world level productivity. Cardinal reasons behind this are highly fragmented nature of Indian farming with close to 33% of arable land held in units of less than 2 hectares per owner. It doesnt let farmers enjoy the economies of scale in operations and modern farming equipment So there is a need to look for interventions that can help the farmers realize higher level of income. The e-Choupal project is already benefiting over 4 million farmers and 6500 eChoupals have been installed. Over the next decade, the e-Choupal network will cover over 100,000 villages, representing 1/6th of rural India, and create more than 10 million e-farmers.

Primary education for the rural poor to enhance employability: ITC provides poor children the greatest asset that they can aspire to: education for a brighter future. Nobel Laureate Amartya Sen. has pointed out that the opportunities promised by marketbased reforms are critically circumscribed in a nation where large numbers cannot read or write or count. ITC's education support programmers are aimed at overcoming the lack of opportunities available to the poor.

Social and farm forestry: ITC's a forestation mission goes beyond regenerating wastelands and forests. It enhances farm incomes and generates sustainable employment. ITC's a forestation project is driven by the realization that India's poor forest cover - a meager 11% of the geographical area of the country against a desirable 33% - has serious implications for the rural poor. Forests and common property resources constitute as much as 20% or more of the total income source of such households. ITC has effectively leveraged its need for wood fiber to provide significant opportunities to economically backward wasteland owners. The main plank of ITC's forestry

projects is the building of grassroots capacities to initiate a virtuous cycle of sustainable development. At the heart of this comprehensive greening project is ITC's state-of-art research centre, consistently striving for productivity improvement of several tree species in order to give attractive land-use alternatives to traditional farmers and wasteland owners.

These competitive strategic initiatives will, on one hand, make procurement of industrial timber exclusively from sustainable sources a reality within 10 years and on the other hand, benefit 1.2 million people through incremental employment. Additionally, it helps forest conservation by reducing pressure on public forests. Integrated watershed development to reverse land degradation and provide critical irrigation ITC has initiated a comprehensive watershed development programmed which is critical to soil-water retention and the reversal of land degradation. ITC's watershed development seeks to achieve two critical objectives: water conservation and soil enrichment. It constitutes water user groups and trains them to plan and build water harvesting structures like contour bunds, check dams, percolation tanks and farm ponds. Trained farmers use their knowledge of the terrain to identify locations for building water structures and develop the related micro plans. ITC contributes 75% of the cost, the balance 25% being mobilized by the user groups. The rich silt excavated from percolation tanks is used to enhance soil fertility. User groups raise regular contributions from the farmers to meet the maintenance cost of these water harvesting structures. So far ITC's Soil and Moisture Conservation Programmed covers 26,704 hectares of rain fed agricultural land and generates employment during the lean season. Womens Empowerment: ITC's initiative provide sustainable economic opportunities to poor women in rural areas by assisting them to form self help groups that enable them to build small savings and finance self employment and micro-enterprise. The programme has demonstrated that extra incomes in the hands of women lead to positive changes in human development since it is largely invested in children's education, health and nutrition. The total turnover of women managed micro enterprises was Rs. 61.14 lakhs, the bulk of which was accounted by the sale of raw agarbattis and chikankar garments. ITC believes that economic empowerment of women transforms them into powerful agents of social change. The need of the hour is to diversify rural livelihoods. Towards this end, ITC has forged an empowering partnership with rural women the most effective development workers. ITCs

intervention leverages micro-credit and skills training to generate alternate employment opportunities. Increased income in the hands of rural women means better nutrition, health care and education for their children.

SYNTHESIS-COMPETITIVE STRATEGIC OPTION ITC has been a leader in the cigarette industry for decades (1910-1975).ITC had been following the strategies of marketing penetration, marketing development and product development with great success and making profit consistently and satisfying stakeholders (mainly shareholder). After Indian Independence the Government policies have put tobacco industry in a disadvantageous position due to continuous raising of excise duties in national budgets. The company changed its name to Indian tobacco company from Imperial Tobacco Company as ITC was perceived as foreign company by people of India. Indianization of capital started in 1970 in the right earnest. They further changed name to ITC Ltd in 1974.In 1979, ITC promoted Badrachalam Paperboards a core sector, ecology conscious enterprise in backward area.ITC had to initiate efforts for unrelated diversification strategies in area other than tobacco such as hotels, FMCG, Agri-business segment etc. New Paradigm of Competitiveness: Agro-Forestry and Natural Resources. ITCs core Values are embedded in its philosophy of trusteeship & the related belief that enterprises exist to serve society and that shareholder value creation is a reward for such larger societal value creation. ITC s green journey began with farm forestry benefiting poor tribals in 1998. This was followed by social development initiatives with water shade and agricultural development, livestock productivity and womans economic empowerment, primary education health and sanitation. In 2000, ITC launched the revolutionary path breaking e-Choupal initiative started in Madhya Pradesh bringing Information Technology to farmers and providing them efficient access to markets and inputs. Today more than 4 million farmers benefit from ITCs e-Choupal. Along with social development initiatives launched with watershed a agricultural development and womens empowerment. According to Mohanbir Sawhney, McCormick Tribune Professor of Technology, Kellogg School of Management, USA. A quiet digital revolution is reshaping the lives of farmers in remote Indian villages. In these villages; farmers grow soybeans, wheat and coffee in small plots of land, as they have for thousands of years.

But farmers in these villages are conducting e-business through an initiative called e-Choupal, created by ITC, one of India's largest consumer product and agribusiness companies."ITC's integrated watershed development initiative is a key intervention to reverse such moisture stress in some of the more acutely affected, drought-prone districts of the country. Currently, 1531 small and large water harvesting structures built by ITC provide critical irrigation to over 14,000 hectares of land in Andhra Pradesh, Karnataka, Madhya Pradesh, Tamil Nadu and Rajasthan.

ITC Tops CSR Category in Nielsen Corporate Reputation Survey

ITC Limited was ranked number 1 for the second consecutive year in the CSR category in the recently published Nielsen Corporate Image Monitor 2012-13. ITCs top position in the ratings in the category - "Most active in CSR" is an acknowledgement of the scale and impact of its sustainability initiatives which have created large scale livelihoods and augmented natural resources. ITC's businesses and value chains have created sustainable livelihoods for 5 million people, many of whom belong to the poorest sections of society. The company's performance on augmenting scarce natural resources as well as combating climate change has been globally recognized. ITC is the only company in the world to be Carbon Positive - for 7 years in a row, Water Positive for 10 years consecutively and Solid Waste Recycling Positive for 5 years now. All its luxury hotels are LEED Platinum Certified. Renewable energy constitutes nearly 40% of its total energy consumption. As part of its 360 degree interventions in rural agricultural communities, ITC has constantly endeavoured to strengthen and broad-base livelihood options through both farm and off farm activities. ITCs e-Choupal, the worlds largest rural digital infrastructure, has today empowered over 4 million farmers. ITCs integrated Watershed Development Programme provides soil and moisture conservation to farmers in water stressed areas and helps promote sustainable agriculture, apart from contributing to ITCs water positive status. This programme covers over 1,00,000 hectares of water stressed areas in rural India. ITCs Social and Farm Forestry Programme, which helps rural wasteland owners to convert their land into pulpwood plantations, has greened over 1,40,000 hectares while creating livelihood opportunities for poor tribals and marginal farmers. The plantations have also sequestered over 4,380 KT of CO2 and played a major role in maintaining ITCs carbon positive status over the past 7 years. ITCs business linked sustainability initiatives together with its social investment programmes have had a transformational impact on rural India. ITCs Livestock Development Programme has provided animal husbandry services to over 8,00,000 milch animals, thereby providing additional income avenues for farmers. ITCs Womens Empowerment Programme has created sustainable livelihoods for over 40,000 rural women, while ITCs Primary Education Programme has benefitted over 3,00,000 children.

Recognition Via Corporate Social Responsibility ITC is the first Indian company and second in the world to win the prestigious Development Gateway Award in 2005 which recognizes ITCs e-Chaupal as the most exemplary contribution to the field of Information and Communication Technologies (ICT) for development priorities like poverty reduction, its scale and replicability, sustainability and transparency. E-Chaupal was declared as one of Indias best Innovations and won the Innovation for India Award-2006 for ITC.

ITC has won the Golden Peacock Awards for Corporate Social responsibility in Asia in the year 2007, the award for CSR in Emerging Economies 2005 and Excellence in Corporate governance in the same year. These awards have been instituted by the Institute of Directors, New Delhi in association with the world council for Corporate Governance and Centre for Corporate Governance.

The Corporate Award for Social responsibility 2008 from, The Energy and Resources Institute (TERI) in recognition of its exemplary initiatives in implementing Integrated watershed development programmes across seven states in India.

United Nations Industrial Development Organization (UNIDO ) Award at the International conference on sharing Agribusiness solutions 2008 at Cairo for ITCs exemplary initiatives in agribusiness through e-Chaupal. ITCs agribusiness was adjudged the winner out of 120 solutions presented by 65 countries for providing innovative solutions including updated information on crops in remote Indian villages. ITCs e-Chaupal the largest rural digital infrastructure in the world today covers over 40,000 villages and benefits over 4 million farmers. This distribution network, comprising of digital and human infrastructure, not only empowers farmers with information but has also helped transform rural communities into vibrant economic organizations by co-creating thriving markets.