Contributing To Social Bottom Line To Improve Financial Bottom line

With the support of ‘Our Singapore Fund’ in Budget 2016, companies should rise up to make giving back a vital and integral part of their business model.

Research show that companies should operate as a responsible corporate citizen.

According to the stakeholder theory, companies should satisfy demands of a variety of stakeholders.

These stakeholders include customers, governments, communities, grassroots organizations, and other civic organizations.

They increasingly expect companies to improve the community and look after the environment.

If a company fails to do so, the stakeholders can withdraw their support and create negative publicity about the company.

The resulting outcomes may affect the company’s sustainability and growth.

As part of the business eco-system, companies should contribute to the betterment of society.

By doing so, it can strengthen branding equity and help companies to expand its market and create a more sustainable operation.

At the basic level, a business should be managed lawfully and ethically. It should not only be doing so but it should also be seen to be doing so in the eyes of the public.

It includes selling of value-added goods and services in a responsible and fair way and promoting equitable creation and sharing of wealth and respect for the rights of its stakeholders and their communities.

There is also an increasing obligation for the business to contribute to sustainable development, a process which is defined by the World Business Council for Sustainable Development to include “the integration of social, environmental, and economic considerations to make balanced judgments for the long term.”

Companies should not be a burden to the community but a nett contributor to its well-being.

They can use their knowledge, competence, and other resources to help resolve a social problem or contribute to the bridging and bonding of communities and building of positive relationships.

In doing so, Professor Michael Porter and Mark Kramer argue that it will improve their competitive advantage because it will create more social values than what an individual, an organization, or the government may be able to deliver to society.

The social capital generated will also strengthen the company’s standing in the community and stakeholders’ support for its business.

As the world increasingly becomes a global interconnected and interdependent village, companies should become more mindful of the shared responsibility for contributing to healthy communities and the environment.

By contributing to the social bottom line, companies can improve their financial bottom line.

Go4It!

I hope this message will find a place in your heart.

By the way, I have also recorded other reflections.

Please ‘Like’ me on https://m.facebook.com/patrickliewsg

For my opinions on social affairs, please visit my Transformation blog at http://hsrpatrickliew.wordpress.com/

Please visit my website, http://www.patrickliew.net

Please read my reflections and continue to teach me.

Life is FUNtastic!

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About Patrick Liew
About Patrick Liew Patrick Liew MBA, MSc, BSc is the Managing Partner of Global Enterprise Exchange Pte. Ltd.. He is also the founder and director of Success Resources, arguably the world’s largest personal development seminar organiser and a major shareholder of a company, which is listed on the Australian Stock Exchange. He was previously the Executive Chairman and CEO of HSR Global Ltd., a publicly listed company on SGX-ST. Previously, he was the regional director of the Gartner Group, providing strategic advisory and planning services to governments, banks and MNCs. He was also the regional head of sales and marketing operation for Dow Jones Telerate. Patrick graduated with a BSc in Estate Management from Heriot Watt University, an MSc with emphasis in global business and marketing from The City University Of New York, and an MBA from Henley Business School / Brunel University. He has also earned more than nine other professional qualifications. Patrick is arguably the first person to develop a multimedia e-learning programme on entrepreneurship. He authored a Chinese book on business systems and was also the co-author of a Times Bookshop best-selling book. Patrick has conducted both ‘brick and mortar’ and online lessons for participants from more than 60 countries. He has also conducted keynote presentations in many international conferences, including being the first Singaporean to teach at the National Association of Realtors. Through his team at Success Resources, Patrick has organised educational conferences for prominent leaders such as President Bill Clinton, Prime Minister Tony Blair, Michael Porter, Richard Branson, Robert Kiyosaki, Donald Trump, and many other prominent leaders. Patrick provides leadership and advisory services to many professional and charity organisations. He is actively involved in supporting humanitarian, philanthropic and charity causes. He has organised three fund-raising events and in the process, help to set three national records in the Singapore Books Of Records. Patrick won the Entrepreneur Of the Year Award For Social Contribution, the Asia Pacific Entrepreneurship Award, and six other business awards. Patrick believes the best way to live your life is to live your life for others. The more you reach out to bless other lives, the richer and better your life will become. -------------------------------------------------------------------------------- A Personal Note to my Friends The articles that I post online; or what I term as Love Notes, are written with the purpose of inspiring readers to live at a higher plane in life. They are also meant to motivate those who are struggling in life and help them find handlers to overcome their conflicts and challenges. It is my ardent hope that we will form networks and alliances of like-minded people who will put to right many of the wrongs in our midst. Together, we will leverage on each other's resources and create a synergistic impact in making our world a better home. These articles are written as part of regular reflection about the vicissitudes of life. They are at best work in progress and at worst, grumblings, grouses, and gripings of a finite old man. I have deliberately decided NOT to delete many of the articles and pointers that I may not agree with or are outrightly wrong. This is to keep a record of how my personal ideas, beliefs, and values have evolved over time. In addition, I hope to encourage readers by letting them know that I also make mistakes and am struggling with many of the complexity and complication in life. As long as we hang on to hope and work on finding a solution, there will be light at the end of whatever tunnel we are in. I do not pretend to know everything or for that matter, anything of substance. In fact, the more I study, learn, and think about the vast wisdom and knowledge out there, the more I realised how little I know about life and the ways of life. Hence, I have always ended my article by asking readers to continue to teach me. For I, too, am a sojourner in the exploration of truth and the adventure of finding meaning, purpose, and significance for my existence. I am proud of and make no apology for being a Christian, albeit not the most exemplary one. I believe our Creator can lead and guide us to be the best that we can ever be. I bear full responsibility for the shortcoming and error in my life, including my words. The fault is entirely mine and not due to anyone else. Readers have and can exercise the power of choice. They can discard what will not work for them and adopt those that can propel them further and faster in the pursuit of better performance, outcomes, and fulfillment. If I have disappointed or hurt you in any way, form, or manner, I would like to apologise to you. Please do not hold them against me or whoever or whatever is related to me. There are much to pray about, learn, and do. And I'll work on them with a sense of urgency. I hold on to the belief that 'Anything worth doing is worth doing with passion and excellence'. I'll endeavour to live by it. Life is short. There's no dress rehearsal and neither can we turn back the clock to change the drama of life. Therefore, by the grace and power of our Creator, let's live a full life and live it to the fullest. May God bless you abundantly on the journey of life. Your online servant, Patrick Liew I hope this message will find a place in your heart. By the way, I have also recorded other reflections. Please 'Like' me on https://m.facebook.com/patrickliewsg Visit my Inspiration blog at https://liewinspiration.wordpress.com/ For my opinions on social affairs, please visit my Transformation blog at http://hsrpatrickliew.wordpress.com/ Please visit my website, http://www.patrickliew.net Please read my reflection and continue to teach me. Life is FUNtastic!

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