The new age capitalism would look at bringing businesses and society back together wherein economic objective and social objectives are in sync with each other. Enterprises are redefining their purpose as creating “shared value” i.e., generating economic value in a way that also produces value for society by addressing its challenges. A shared value approach reconnects company success with social progress and nations success by enhancing its competitiveness. Firms do this in three distinct ways: by reconceiving products and markets, redefining productivity in the value chain, and building supportive industry clusters at the company’s locations.
Shared value will drive the reshaping of capitalism and its relationship to society. It promises to as well drive the next wave of innovation and productivity growth in the global economy as it opens managers’ eyes to immense human needs that must be met, large new markets to be served, and the internal costs of social deficits—as well as the competitive advantages available by addressing them. An important aspect that would need to be addressed is protecting the rights of children who happen to be the most vulnerable group in society. The inclusion of support for children’s rights within the strategy framework will drive and enhance competitive advantage of enterprises.
In this context we propose that we consciously follow set of shared principles as individuals and enterprises to protect our children and drive economic prosperity, social progress and ease of living within our country.
I / We shall recognise the importance of children’s civil, social, political, economic and cultural rights.
I / We shall extend my support to human rights of children, guided by the Convention on the Rights of Child.
I / We shall work towards elimination of all forms of child labour, including forced labour (if any) from my organisation and its supply chains.
I / We shall ensure that “protection of children” becomes a company culture by providing guidance to managers, employees, business partners in relation to matters that impact the rights of children.
I / We shall ensure to not involve businesses that are in any way involved in forced or compulsory labour.
I / We shall alert all my business partners about these policies, including suppliers and customers, before starting new business relationships.
I / We shall promote the public awareness of my principles by ensuring that information related to my laws, enforcement and compliance procedures is publicly available.
I / We shall have a zero-tolerance policy against employees who are definitively involved in any form (commercial, domestic, online) of sexual abuse of children.
I / We shall ensure that pregnant women are not required to perform activities that pose risk to her or her child’s health.
I / We shall ensure family-friendly workplace policies that include maternal / paternal leaves etc.
I / We shall ensure that age restrictions for product use are clearly outlined in the product package, if my company deals with products that may be harmful for children.
I / We shall commit to responsible use of children as brand ambassadors or in media campaigns. This should include age-inappropriate representation and preventing sexualisation.