This 6th annual CSR & sustainability summit will seek to call for businesses to commit to a Purpose that looked beyond Profits: the purpose of a corporation is not just to create financial return to shareholders but create benefits and fundamental commitment to all stakeholders: customers, employees, suppliers, communities, as well as shareholders.
The push for corporations to solve global problems is getting greater, more companies have rejected the long-held view that ‘corporations exist principally to serve their shareholders’.
The narrow focus on just profit-making businesses began from the era of neoliberalism have given rise to a number of concerns over the decades from poverty, impact on climate to serious global inequality.
in summary, maximisation of profits for just shareholders will no longer be sufficient for corporations of the future to meet the demands of society and workforce, and such neoliberal focus will have its effect on narrowing strategic focus and responsibilities of business.
To achieve a cohesive and sustainable world, new choices have to be made. Addressing the biggest issue of our time, leveraging on the powers of all sectors only will we be able to achieve a sustainable world. As purposeful businesses are now gaining more mainstream interest and support, CEOs of the future will want their corporations to be forces of good.
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