Profitability is the paramount concern of corporations, and human desire forms the engine of economic society.
While traditional Confucian philosophy stresses high moral standards, the majority of contemporary business management courses regard business efficiency and profitability as the criteria by which to measure the success of corporations. Neither of these two value systems reflects the entirety of business values.
True success requires a blending of value systems. An entrepreneur with a sense of mission should possess clear objectives that safeguard the best interest of the organization while achieving success with integrity.
In this age of intense competition and globalization, corporations must focus on business efficiency and maximizing shareholder value. To ensure sustainable growth, corporations must consider a portfolio of elements contributing to business success, including a strategic framework, innovation, sound management processes, complete and flexible organizations and systems, an outstanding, reliable and experienced management team, diligent, responsible and loyal employees, and a complete, scientific information system that facilitates accurate and real-time decision-making.
In addition, leaders in today's business environment must nurture a corporate culture that promotes trust and respect among managers and employees, and more importantly, build personal and corporate credibility, an intangible value not found on the balance sheet, but perhaps the firm's most valuable asset.
Li Ka-shing, founder of Cheung Kong GSB,
chairman of Cheung Kong (Holdings) Limited
and Hutchison Whampoa Limited