There is a touch of irony in how some of the world's most profitable companies are not profit-oriented but instead built on a foundation of purpose-driven goals. Moreover, leaders who acquire a strong sense of organisational purpose can build trust in employees, create conscious consumers and transform societies and the profits follow. In short, the story of business is changing.
This session in the Directors-in-Dialogue series tackled the different facets of a purpose-driven identity that companies need to embrace. These include corporate social responsibility, conscious capitalism, shared value, just capital, patient capital, and socially responsible investing among many others.
While some of these ideas stem from existing business models, others represent systematic changes that arise out of the dynamic evolution of Asia.
As such, this represents both a threat and an opportunity to your organisation that you cannot afford to ignore.
Facilitated by Professor Edward Freeman, this forum was an interactive dialogue to examine how directors can lead the process of change to create a new story for the business.
Key topics included:
- The Role of Purpose
- Answering "What do we stand for."
- Creating Value for Stakeholders
- The New Role of Government: Facilitating Value Creation
- Why Bother with Ethics and Values
- What is Total Performance and How Should it Be Measured
American philosopher and professor of business administration at the Darden School, University of Virginia. Edward Freeman is a notable and leading authority on corporate strategy and ethics. He has authored and edited over 20 volumes and 100 articles in his specialised field of stakeholder management, business strategy, and business ethics; and is best known for his award-winning book: Strategic Management: A Stakeholder Approach (Cambridge, 2010) originally published in 1984.
As a decorated academic, Professor Freeman has received several teaching awards in the span of his influential career. He continues to be a sought-after advisor to executives and companies around the world.
- Board Chairs and Non-Executive Directors of publicly listed, private and non-profit corporations
- Government agency representatives
- Social enterprise representatives
"One of the best conferences I have attended. Good job!"
Yap Chee Keong, Certis CISCO Security