Business, Government and Media must regain public trust

The world is currently writing an important chapter that complements business innovation and intergovernmental cooperation -- the chapter on integration. At the same time, there has been a loss of trust in governments, businesses and institutions, which may hinder global integration of business and societal goals.

How governments and businesses can regain trust

In his keynote address at the INSEAD Forum Asia and the Campaign for INSEAD Launch in Singapore, Mr Chan Chun Sing, Minister for Trade and Industry of Singapore provided three insights into how business and government can be a force for good and begin building trust.  

Minister Chan cautioned that how the world manages growing disparities will have significant global political impact. If the disparity between those who win more and those who win less is not well managed, it can translate into global backlash against integration.

Similar commentary emerged from global business leaders in the "Business as a Force for Good" panel discussions moderated by Peter Zemsky, INSEAD Deputy Dean and Dean of Innovation, at INSEAD Forums in France and Singapore.

Andre Hoffmann MBA'90D, Vice Chairman of Roche Holdings, shared how Roche integrates societal values into the company's business model, which has placed the company atop the healthcare sector in the Dow Jones Sustainability Indices for ten years running. He states that, "We've got to the point where it is becoming really part of the DNA of the company. If we have businesses that manage well their relationship with the planet and with the markets -- efficiently and sufficiently; morally and with a sense of purpose -- we will not need philanthropy any more. Because the root cause of all these issues will have disappeared. So I think it is very important to amalgamate the two as quickly as possible."

How business schools can play their part

INSEAD is committed to developing responsible leaders who transform business and society. The concept of stewardship is important. The school has integrated global insights on business and society issues into its new MBA curriculum and executive education programmes to prepare students and participants -- the world's current and future leaders -- for global challenges and tough conversations ahead.

INSEAD also aims to lead conversation and spark action around the most pressing issues facing the world today through the newly established Hoffmann Global Institute for Business and Society.

Peter Zemsky, Deputy Dean and Dean of Innovation at INSEAD, says that, "By sharing the action by those leading the way, we hope to inspire more individuals and leaders in more businesses and institutions around the world, including media. We all need to examine our power and influence, increase trust with society and act as a force for good in the world. At INSEAD, the business school for the world, we take our responsibility to develop global business leaders who understand the relationship between business and society very seriously."

Responsible leadership and sound stewardship of natural capital can regain public trust. This is how business can be a force for good at the community level and lay a foundation for growth over generations. This is how the goals of business and society can be integrated and how the world can usher in a new era of prosperity.

Join INSEAD faculty and alumni, alongside global business and thought leaders, to continue this critical conversation at the upcoming Global Business Leaders Conference and Campaign Launch for INSEAD in Middle East on 24 February 2019.

For more information, please contact:

Aileen Huang
[email protected]  

Cheryl Ng
[email protected]

Photo - https://photos.prnasia.com/prnh/20181213/2325959-1