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Business should help societies flourish

ABU DHABI - The objective behind the conduct of business should centre round sustaining growth and creation of wealth for all to help societies flourish, said trainer and consultant Sam Swaminathan in Abu Dhabi.

Addressing a corporate evening organised by Thomas Cook Al Rostamani Exchange Company on the subject 'what makes a business grow', he cited the rise and fall of companies that did not spread the benefits accrued, across the board for the benefit of all. They ended up in the vicious cycle that he described as the syndrome of 'creator, caretaker and undertaker'.

"There is difference between making money for yourself and creating wealth for others who help you make money," he said.

Sam who is founder of the Centre for Creative Thinking, that aims at transforming companies into communities where people find work an enriching experience, cited the examples of the Indian Tata Group of Companies and the US-based Starbucks, whose founders demonstrated their commitment to their employees as well as the society and community at large.

In the changing business scenario today, companies and organisations have to reinvent themselves, as the layers of protection they have been enjoying all along will disappear with the coming into being of the General Agreement on Trade and Tariff (GATT), to which the UAE is also a signatary, he said.

The meaning of business is larger than just making profits to include other attributes such as well-being, happiness and prosperity in the wealth fostering mechanisms, he commented.

"And finally, success comes with risk management techniques, the ability to dream and attempt the unattempted," he added.