Research Scholar Delivers Lecture At SMIU

KARACHI, (UrduPoint / Pakistan Point News - 30th Apr, 2024) Post-Doctoral Research Associate, University of Virginia (UVA) Dr Prem S. Meghwar Tuesday delivered a lecture on "The Role of the Business Schools in Shaping Society: What Should We Teach and Do Research On?" here at Sindh Madressatul islam University (SMIU).

He said no doubt the business has a main purpose to make money, but it also has a purpose to solve social problems of the society.

Dr Menghwar, who is working as a Post Doctorate Research Associate at Darden school of Business, UVA and his research focus is on organizational purpose and the dynamics of Stakeholder Theory in underdeveloped countries, said the purpose of business was to create value for all stakeholders including investors. Also purpose of life is not to make money, money is important but people should not use it as a means to make money.

Giving positive side of the business, he said due to business the average human life has increased, people have an access of pure and clean water, there is availability of medicines and treatments and access to electricity and internet. At the same time, he presented negative side of the of business and gave examples of a fire in a chemical industry in

Pakistan and Bangladesh’s Rana Plaza disasters.

He was of the opinion that the notion is not correct that if poor people get education and become entrepreneurs, the power and kingdom of kings will collapse.

He said despite the fact that British has high quality education and social awareness, its kingdom is surviving the net worth of the British royal family is estimated at $28 billion. Similarly, the net worth of the Dutch Royal Family is $1.3 billion.

He said that no doubt the business firms and corporations are maximizing their profit, but they also resolve social problems. Although the companies are getting profit from their business, but they uphold value of their products also. In this respect he cited example of the Bombay Bakery of Hyderabad and said it has survived for a long time due to value of its product. It has not compromised on quality of its product.

He stressed upon the students of the Department of Business Administration that they must do business but uphold its positive side of social responsibility.

On this occasion Dr Zahid Ali Channar, Dean Faculty of Social Sciences presented welcome address, Dr. Mansoor Ahmed Khuhro, Incharge of ORIC presented concluding remarks and Muhammad Naeem Ahmed, Director of Students Affairs gave vote of thanks. A large number of faculty and students attended the program.