Zoho Corporation: The Tale of a Purpose-Driven Profit-Making Firm

Zoho Corporation Ltd. (Zoho) was a privately held technology company that provided a suite of software applications for businesses of all sizes. The company was founded in 1996 with the aim of providing affordable, easy-to-use software applications to small- and medium-sized enterprises. In 2021, Zoho announced that it had reached $1 billion in revenue. The founders’ socio-economic vision of embracing collective well-being and purpose-driven leadership and following unconventional business practices such as transnational localism had contributed to its unwavering growth. Under the leadership of its chief executive officer, who focused on customer-centricity, simplicity, and doing business with responsibility and accountability, the organization was able to pursue social and commercial objectives simultaneously. In late 2023, Zoho intended to address the grand challenges of the world, particularly the challenges of a developing nation, through its coordinated actions and collaborative efforts. The chief executive officer faced several pressing questions: What should Zoho do to remain afloat amid the global downturn? As a socially responsible enterprise, how can could Zoho balance its business goals with social goals, given the complex landscape of social responsibility?

<p align="justify">This case can be used in undergraduate, postgraduate, and executive education programs in business management. It is relevant for business students for their future managerial endeavours. The case describes the journey of a $1 billion company and allows students to understand and evaluate business management concepts of strategic human resources management, sustainability, social entrepreneurship, social innovation, leadership, and organizational values and culture. It will help students learn how leadership changes society and how unconventional business practices can be the best approach for sustainability, profitability, and overall prosperity. At the same time, it also describes how a purpose-driven strategy leads to customer satisfaction, employee retention, and sustained competitive advantage. This case study and its assignment questions will help students learn to do the following:<br><br><ul><li>Explain how a socio-economic vision can contribute to organizational growth.</li><li>Evaluate the consequences of collective well-being from an organizational perspective.</li><li>Explain how organizations can effectively manage the needs and concerns of stakeholders. </li><li>Describe sustainable business practices.</li><li>Outline ways that social innovation can bring about positive change and significantly impact society.</li></ul>

• Social Innovation
• Sustainability
• Leadership