SURANA & SURANA INTERNATIONAL ATTORNEYS: BUSINESS
OPPORTUNITY OR CONSCIOUS BUSINESS PHILOSOPHY?
CASE STUDY SOLUTION
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SYNOPSIS
Sa
Surana & Surana International Attorneys (S&S) was a multispecialty law firm headquartered in South India.
Over the last 50 years, S&S delivered exemplary legal services to its clients seeking assistance in corporate
law, intellectual property (IP) rights, taxation, family business, and other matters. However, it declined to
serve clients who were in the industries of meat, tobacco, alcohol, and gambling (M-TAG). In early March
2023, an opportunity arose to work with a world leader in the alcohol business. Sanjay Mehta, the head of
n
business development, met with Vinod Surana, chief executive officer (CEO) and partner at S&S, to
convince him to change S&S’s deep-rooted “no M-TAG” business philosophy because of the changing
tio
business environment. The discussion included S&S’s planned expansion to North India when Dev Kartik
and Keerti, Surana’s two sons, would join S&S after completing their formal legal education. Surana faced
the dilemma of whether to stick to the existing “no M-TAG” business philosophy or to be flexible,
lu
considering the growing competition and the business requirements.
So
OBJECTIVES
• The conceptual phenomenon of conscious capitalism
• Designing a conscious business
• Conscious capitalism as an enabler of a unique corporate identity
• The conceptual phenomenon of the trust triangle
• The concept of empowerment leadership
• Designing purpose-driven organizations
The Case Solution Starts From page 6
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ASSIGNMENT QUESTIONS
So
1. What is conscious capitalism? Evaluate S&S’s “no M-TAG” philosophy through the tenets of
conscious capitalism.
2. Evaluate the corporate identity of S&S owing to its “no M-TAG” philosophy and conscious
capitalism approach to business.
3. Should S&S capture the lucrative business opportunity or adhere to its “no M-TAG” business
philosophy in the South Indian market?
4. Should S&S stick to its “no M-TAG” policy or change its business philosophy when expanding to
the North Indian market?
5. Evaluate the leadership style of Vinod Surana.
6. Should the business community and society trust S&S if it changes its business philosophy?
Evaluate this in light of the “trust triangle.”
The Case Solution Starts From page 6
,ANALYSIS
e
1. What is conscious capitalism? Evaluate S&S’s “no M-TAG” philosophy through the tenets of
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conscious capitalism.
This question allows students to understand the basics of conscious capitalism. refer
m
to the definition of conscious capitalism proposed by Rajendra Sisodia (see Relevant Readings).
According to him, conscious capitalism is a new and more informed way to view the purpose and
Sa
management of business. It highlights a higher level of consciousness among multiple stakeholders,
including customers and employees, as society confronts increased levels of unique challenges.
Conscious capitalism is distinct from corporate social responsibility (CSR). Organizations that embrace
conscious capitalism surpass traditional firms on the metrics of financial wealth and create significant
differential value by creating social, emotional, intellectual, and even spiritual wealth.
n
Conscious capitalism embraces the significance of spirituality in the organisation setup. With a clear
tio
delineation from the spirituality linked with dogma or acts of faith, the spirituality emanating from
conscious capitalism is grounded through the lens of the spirituality of immanence or a feeling of
eternity. Conscious capitalism is a contemporary yardstick which is helping organizations and other
lu
key stakeholders gain value. This evolving philosophy is in sync with the current work culture and helps
avoid contradictions with ethics of the work ecosystem.2
So
The Four Tenets of Conscious Capitalism (see Exhibit -1)
1. Higher purpose and core values. The “purpose” is the reason a company exists, and sticking to a
higher purpose can create a higher degree of stakeholder engagement and result in higher
stakeholder commitment and innovation.
2. Stakeholder integration. Conscious businesses recognize the importance of all the stakeholders and
their interdependence. These stakeholders are motivated by a shared sense of higher purpose and
core values.
3. Conscious leadership. Conscious leaders believe in creating value for all stakeholders. They are
primarily driven by service to the higher purpose of the firm.
4. Conscious culture and management. Conscious cultures share the characteristics of trust,
accountability, integrity, loyalty, fairness, transparency, love, and care. Conscious management
emphasizes the values of empowerment, collaboration, and decentralization.
The Case Solution Starts From page 6
,EXHIBIT 1: THE FOUR TENETS OF CONSCIOUS CAPITALISM
Stakeholder
integration
Higher
response of
core values
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Conscious
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Conscious
culture and
leadership
management
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Sa
n
tio
lu
So
The Case Solution Starts From page 6
, EXHIBIT 3: RECOVERY PERIOD
Business Issue Impact
Loss in South Indian market by S&S due to “no M- ₹37.8 million
TAG” business philosophy
North Indian market business opportunity per year Expected revenue of ₹15 million per year from
for S&S (with broadened business philosophy) North Indian business for S&S, with a growth
potential of 7 per cent per year
Revenue for S&S in first year in North India ₹15 million
e
pl
m
Sa
n
tio
lu
So
The Case Solution Starts From page 6
OPPORTUNITY OR CONSCIOUS BUSINESS PHILOSOPHY?
CASE STUDY SOLUTION
e
pl
m
SYNOPSIS
Sa
Surana & Surana International Attorneys (S&S) was a multispecialty law firm headquartered in South India.
Over the last 50 years, S&S delivered exemplary legal services to its clients seeking assistance in corporate
law, intellectual property (IP) rights, taxation, family business, and other matters. However, it declined to
serve clients who were in the industries of meat, tobacco, alcohol, and gambling (M-TAG). In early March
2023, an opportunity arose to work with a world leader in the alcohol business. Sanjay Mehta, the head of
n
business development, met with Vinod Surana, chief executive officer (CEO) and partner at S&S, to
convince him to change S&S’s deep-rooted “no M-TAG” business philosophy because of the changing
tio
business environment. The discussion included S&S’s planned expansion to North India when Dev Kartik
and Keerti, Surana’s two sons, would join S&S after completing their formal legal education. Surana faced
the dilemma of whether to stick to the existing “no M-TAG” business philosophy or to be flexible,
lu
considering the growing competition and the business requirements.
So
OBJECTIVES
• The conceptual phenomenon of conscious capitalism
• Designing a conscious business
• Conscious capitalism as an enabler of a unique corporate identity
• The conceptual phenomenon of the trust triangle
• The concept of empowerment leadership
• Designing purpose-driven organizations
The Case Solution Starts From page 6
, e
pl
m
Sa
n
tio
lu
ASSIGNMENT QUESTIONS
So
1. What is conscious capitalism? Evaluate S&S’s “no M-TAG” philosophy through the tenets of
conscious capitalism.
2. Evaluate the corporate identity of S&S owing to its “no M-TAG” philosophy and conscious
capitalism approach to business.
3. Should S&S capture the lucrative business opportunity or adhere to its “no M-TAG” business
philosophy in the South Indian market?
4. Should S&S stick to its “no M-TAG” policy or change its business philosophy when expanding to
the North Indian market?
5. Evaluate the leadership style of Vinod Surana.
6. Should the business community and society trust S&S if it changes its business philosophy?
Evaluate this in light of the “trust triangle.”
The Case Solution Starts From page 6
,ANALYSIS
e
1. What is conscious capitalism? Evaluate S&S’s “no M-TAG” philosophy through the tenets of
pl
conscious capitalism.
This question allows students to understand the basics of conscious capitalism. refer
m
to the definition of conscious capitalism proposed by Rajendra Sisodia (see Relevant Readings).
According to him, conscious capitalism is a new and more informed way to view the purpose and
Sa
management of business. It highlights a higher level of consciousness among multiple stakeholders,
including customers and employees, as society confronts increased levels of unique challenges.
Conscious capitalism is distinct from corporate social responsibility (CSR). Organizations that embrace
conscious capitalism surpass traditional firms on the metrics of financial wealth and create significant
differential value by creating social, emotional, intellectual, and even spiritual wealth.
n
Conscious capitalism embraces the significance of spirituality in the organisation setup. With a clear
tio
delineation from the spirituality linked with dogma or acts of faith, the spirituality emanating from
conscious capitalism is grounded through the lens of the spirituality of immanence or a feeling of
eternity. Conscious capitalism is a contemporary yardstick which is helping organizations and other
lu
key stakeholders gain value. This evolving philosophy is in sync with the current work culture and helps
avoid contradictions with ethics of the work ecosystem.2
So
The Four Tenets of Conscious Capitalism (see Exhibit -1)
1. Higher purpose and core values. The “purpose” is the reason a company exists, and sticking to a
higher purpose can create a higher degree of stakeholder engagement and result in higher
stakeholder commitment and innovation.
2. Stakeholder integration. Conscious businesses recognize the importance of all the stakeholders and
their interdependence. These stakeholders are motivated by a shared sense of higher purpose and
core values.
3. Conscious leadership. Conscious leaders believe in creating value for all stakeholders. They are
primarily driven by service to the higher purpose of the firm.
4. Conscious culture and management. Conscious cultures share the characteristics of trust,
accountability, integrity, loyalty, fairness, transparency, love, and care. Conscious management
emphasizes the values of empowerment, collaboration, and decentralization.
The Case Solution Starts From page 6
,EXHIBIT 1: THE FOUR TENETS OF CONSCIOUS CAPITALISM
Stakeholder
integration
Higher
response of
core values
e
Conscious
pl
Conscious
culture and
leadership
management
m
Sa
n
tio
lu
So
The Case Solution Starts From page 6
, EXHIBIT 3: RECOVERY PERIOD
Business Issue Impact
Loss in South Indian market by S&S due to “no M- ₹37.8 million
TAG” business philosophy
North Indian market business opportunity per year Expected revenue of ₹15 million per year from
for S&S (with broadened business philosophy) North Indian business for S&S, with a growth
potential of 7 per cent per year
Revenue for S&S in first year in North India ₹15 million
e
pl
m
Sa
n
tio
lu
So
The Case Solution Starts From page 6
