Applying Behavioural Economics to Bring In Social Transformation: Rural Shoring for Stakeholder Wellbeing
Applying Behavioural Economics to Bring In Social Transformation: Rural Shoring for Stakeholder Wellbeing

Author(s): Vikramaditya Kanodia, Rima Ghose Chowdhury
Subject(s): Economy, Business Economy / Management, Behaviorism, Socio-Economic Research
Published by: Transnational Press London
Keywords: Applying Behavioural; Economics; Social Transformation: Rural Shoring; Stakeholder Wellbeing;
Summary/Abstract: Corporates have won wars with human behavioural dimensions and their interplay as starting points. Using behavioural economics has helped corporates advance business causes and create win-win situations. This chapter aims to highlight the motivating factors of social research such as stimulation of respondents, sense of participation, growth of knowledge, the quest for progress, and curiosity to understand the cause and effect relationship of various social phenomena. The research aims at finding: How a behaviour change impacted society? How a societal outlook change furthered a business cause? This chapter also attempts to provide a strong case for corporates to explore behavioural economics to further their businesses ethically and inclusively. The premise brings unique value to end consumers in a perceived upliftment of socioeconomic worth.

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