RATIONALE

Making lives better has always been at the core of PHINMA’s businesses since Ambassador Ramon V. del Rosario (RVR) and his partners founded it in the 1950s.  Then, it was all about nation building from the ashes of World War 2. Today, that same spirit animates the group’s response to the growing call of the times for business to become a force for good.

The most recent 2022 Edelman Trust Barometer reports that societal leadership is now viewed as a core function of business. The 2022 Barometer is the 22nd annual trust and credibility survey powered by Edelman Data & Intelligence, involving over 36,000 respondents in 28 countries. The survey also reveals that people expect business to step up on societal issues and lead in breaking the cycle of distrust in today’s world. This latest global survey validates what PHINMA has been advocating since its early years as well as its mission of making lives better by improving access of families and communities to the essentials of a dignified life.

International entities have increasingly advocated for businesses to become a force for good, signaling a transformative shift in corporate responsibilities and ethics. The rise of B Corp Certifications exemplifies this trend, setting high standards for social and environmental performance, transparency, and accountability. Similarly, sustainability reporting initiatives have gained momentum, compelling businesses to disclose their impacts on society and the environment. The Economy of Francesco, initiated by Pope Francis, further underscores this paradigm shift by envisioning an economy that is inclusive, equitable, and respectful of our common planetary home. Furthermore, Nobel Peace Prize winner Muhammad Yunus continuously advocates for a world of three zeros: zero poverty, zero unemployment, and zero net carbon emissions. These developments highlight the critical importance of responding to this call for a more sustainable and socially responsible business environment.

The proposed PHINMA-DLSU Center for Business and Society will be another concrete response to the continuing call for business to step up and take the lead and it will be aptly housed in DLSU’s Ramon V. del Rosario College of Business. Establishing the PHINMA-DLSU Center for Business and Society would be a strategic response to this global movement, positioning the center as a catalyst for fostering humanistic business practices and societal well-being, aligning with the broader global push towards responsible and sustainable business conduct.

The RVR College of Business was the first and the country’s leading university-based business school that is a signatory to the United Nations Principles for Responsible Management Education (PRME). As such, it has been addressing the challenge of promoting a more inclusive economy through curricular innovations aimed at promoting humanistic business for the common good.  The College teaches a Code of Ethics for Business to all its students and, in partnership with the Management Association of the Philippines, helped formulate and now advocates the Covenant for Shared Prosperity. The College, through the School of Lifelong Learning, conducts a leading-edge management development program on implementing the Covenant.  In line with the above, the College supports the UN Sustainable Development Goals, especially, in relation to business activities, such as: Goal 1 – No Poverty, Goal 3 – Good Health and Wellbeing, Goal 8 – Decent Work and Economic Growth, Goal 10 – Reduced Inequalities, and Goal 12 – Responsible Consumption and Production.

Together, PHINMA and the DLSU RVR College of Business will be lead proponents of how humanistic business – one that is mindful in effecting holistic human development and flourishing and not just material improvement – becomes a force for common good that is vital in nation building. The proposed PHINMA-DLSU Center for Business and Society will expound on the steps for the realization of the aspiration for a better Philippines that is shared by the two institutions.

KEY STRATEGIES

1. Develop course materials for business students and managers, including actual case studies that exemplify businesses’ positive societal impact, for incorporation into the curriculum and management development programs of business schools;
2. Publish research papers, promote roundtable discussions and forums, and organize an annual conference and case competition to promote the practice of Business as a Force for Good through humanistic management, social innovation and entrepreneurship, helping business practitioners effectively implement Business as a Force for Good
3. Pursue research and develop the knowledge base on businesses worldwide that have become an impactful force for social good and recommend ways to build on these examples to develop fresh initiatives locally
4. Develop and recognize business leaders who will actively promote inclusive business practices which support human and social development for a more just and equitable society thru a sustained program for Business as a Force for Good
5. Collaborate with the Asian Institute of Management RVR Center and the Ramon Magsaysay Awards Foundation on more Philippines-focused initiatives and link up with global networks like the Roman Catholic Church-led Council for Inclusive Capitalism, the International Humanistic Management Association, Action Research Plus and the United Nations Principles for Responsible Management Education;
6. Collaborate with international and national funding agencies to develop sustainable funding for the center through joint research, faculty exchange, and executive education;
7. Inspire business leaders and business groups to embrace the advocacy and support a National Action Plan for Business as a Force for Good (Business for a Better Philippines Action Plan), which will include working with Church, academe, civil society and government networks.