Saving capitalism from profit obsession : vimarsana.com

Saving capitalism from profit obsession


BusinessWorld
May 25, 2021 | 6:35 pm
(Part 5)
We have seen some specific examples of how business enterprises that started with modest offerings of goods or services to a limited clientele eventually evolved into large corporations that have succeeded in articulating corporate purpose in an effective way for better governance and management. We saw how Ikea, the biggest furniture company in the world, transformed itself from a mail-order business that sold pencils, postcards, and similar merchandise into a multinational enterprise with a clear corporate purpose. We also observed how large Philippine conglomerates like San Miguel Corp., Ayala Corp., and the DMCI Corp. have evolved into purpose-driven businesses with the active participation of their respective boards of directors and top management.

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