On February 18 & 19, 2010, The Institute of Corporate responsibility hosted a series called CORPORATE GOVERNANCE AND THE VISION OF THE FIRM at The George Washington University School of Business.
The conference invited leaders from different perspectives to present for 25 minutes on their perspective of corporate responsibility and where organizations are going and leading nowadays.
This lecture impacted on all of the six principles of PRME: the purpose was clear, the values were inevitable, the method was open and exposed very different views, research was implicit, partnership even continues after the lecture and new networks and partners have been formed, and yes, dialogue: such wonderful dialogue was encouraged.
I was particularly impressed by two of the speakers:
1) Ed Freeman, Ruffin Chair of Business Ethics, The Darden School; University of Virginia and the George Washington University Welling Professor, and
2) Per L. Saxegaard, Founding Partner Norden Realkapital, Oslo & Founder of Business for Peace Foundation, Oslo (http://businessforpeace.no)
Prof. Freedman presented thought provoking concepts such as stating that companies with good governance are compatible with good business practices and good management and good leadership: these types of companies have and do business for humans. It is true, in the world we live in, sometimes it feels like it is business communities against the community or other stakeholders. He went on to say that companies have the investors they deserve if in their minds, quarterly earnings equal the value of the firm, which makes management have a “beat the street mentality”.
For me, the most visionary speaker was Mr. Per Saxegaard who focused on “Marying Performance and Purpose”. He has coined the term “businessworthy.” The perspective of this word implies a strong and growing business case for ethically aware business practices. Perspectives that interplay with general moral business principles and competencies that are followed in close business relationships. Such business principles and competencies constitute the rationale for the concept of Businessworthiness, which is linked to the concept of Creditworthiness, as understood by every businessperson. Being Worthy in the Business of your relationships with – your customers and suppliers, your co-workers, and the communities you act within – seems to be a relevant concept for conduct in a modern business environment. http://businessforpeace.no/foundation-businessworthiness.
He also focused on being a responsible manager and the concept of “being one person” vs. one business person and your regular being. He also introduced concepts I had not thought about like “business violence” which occurs when a business in its blind and eager race to win, prevents others from winning too, which is counterproductive in the business arena – where having losers and winners makes society worse. Business is an area where the sports analogies must stop since it is possible to have win-win situations, which Mr. Saxegaard believes are a dynamic requirement for long term business engagements (not a zero-sum game, but a game with mutual benefits).
In regards to the political and regulatory environments, he mentioned the need for a conscious capitalism and that companies will need to provide “future proof” for regulations that will inevitable come an d where responsible companies will be ahead of the curve.
In our pursuit of becoming Certified responsible Managers, he remained us of “being mindful” and “being aware” and being proud of being part of a business, not to excuse it.”
