IN a world where the pursuit of profit often overshadows the importance of societal well-being, it is heartening to witness a growing recognition of the role businesses can play in driving positive change. At the recent public launch of the Phinma-DLSU Center for Business and Society, which was held March 8, 2024, at The Fifth at Rockwell, industry titans, business school administrators, and business student leaders were asked, "How can business be a force for good?" The responses, collected through an interactive digital freedom wall hosted through Mentimeter, revealed a compelling narrative of how we perceive the potential of business to make a difference.

Four key themes emerged from the collective wisdom: ethical business practices, fair labor, community engagement, and sustainable practices. These themes underscore a fundamental truth — that the role of business extends far beyond mere profit generation. Instead, businesses have the power and the responsibility to shape our society for the better.

Drawing inspiration from the insightful document "The Vocation of the Business Leader," it becomes clear that the true purpose of business should be to preserve human dignity and enable the flourishing of our collective well-being. Businesses are not just a series of transactions; they are platforms for nurturing individuals, communities, and society as a whole. As Filipinos, we embrace the values of "pakikipagkapwa" (shared humanity) and "bayanihan" (cooperation) in our pursuit of inclusive progress.

At the heart of this vision lies an unwavering respect for human dignity. Every individual should be seen as an invaluable participant in our collective prosperity, not merely a means to an end. Business decisions, strategies and innovations should contribute positively to the lives they touch. This requires a rejection of the "divided life," where business and personal values are at odds, and instead calls for a harmonious integration of our ethical, social and spiritual selves into our professional endeavors.

Integral human development serves as the guiding light in this journey. It recognizes that human prosperity has multiple dimensions — economic, social, cultural and spiritual — and that true development must encompass them all. While this path is not without its challenges, we must keep faith that the value creation of business and the thought leadership of academia can synergize to manifest a thriving that is greater than the sum of our individual contributions.

The unveiling of the Phinma-DLSU Center for Business and Society logo at the event served as a powerful symbol of this commitment. The logo elegantly combines the letters P and D, representing the partnership between Phinma Corp. and De La Salle University, with the intersection symbolizing the dedication to bridging business and society. The leaf signifies growth and integral human development, while the square represents harmony, dignity and integrity — the core values that should underpin all business actions.

To further solidify this commitment, the event introduced The Business as a Force for Good Pledge:

"We, the leaders and changemakers gathered here,

Recognize the power of business to shape our society.

Inspired by the spirit of bayanihan,

We pledge to protect human dignity

And promote the flourishing of well-being.

We will make decisions guided by the common good

And dare to innovate towards positive societal impact.

We will build the nation one good deed at a time

Treating communities as partners, leaving no one behind.

We will measure our success, not just in profits, but by the lives we touch

And the opportunities we co-create by lifting each other up.

Together, let us chart new paths

To make lives better for more and more Filipinos ...

To make business a force for good!"

This pledge articulates the shared values and dedication to making business a catalyst for positive change, touched and opportunities co-created. As the leaders and change-makers present at the event signed the pledge, they marked the beginning of a transformative journey — a kind of modern-day bayanihan that represents an unwavering commitment to re-envision the role of business in society.

Patrick Adriel H. Aure, PhD (Patch), has been appointed as the director of the Phinma-DLSU Center for Business and Society, which advocates for businesses to become forces for good through curriculum innovation, research-based thought leadership, and engaging the industry and academic communities. He also serves as assistant dean for quality assurance of the DLSU Ramon V. del Rosario College of Business and as president of the Philippine Academy of Management. patrick.aure@dlsu.edu.ph