Operating businesses as a group in various sectors (e.g., consumer products, energy, healthcare, transportation etc) allows the opportunity to respond to diverse needs. The enormous reach and influence, however, also means a larger responsibility for businesses to contribute as it grows. One philosophy shared was that there should not be this clear separation between what is done for business and what is done for people. Doing business with compassion, in harmony with nature, provides not just benefits to the community but also to shareholders. Aligning with virtues such as loving kindness, empathetic joy and equanimity within the business will also encourage people to behave generously in society. However, setting up of independent philanthropic bodies to focus on the welfare of communities also allow for directed responses to pressing needs such as disaster relief and housing.
COVID has exacerbated numerous problems and increased the need to address pressing issues such as access to learning during the lock down. A change in mindset is needed - philanthropists should take ownership and stewardship in trying to fix these issues and environment and social contributions should be part of how business success is defined. The purpose of business is not only for shareholder wealth but to do something good for society. With this mindset, this can be extended to causes where businesses can play a part. Coming together and sharing efforts and experiences awakens the spirit and allows for opportunities to do more things together.
There were two viewpoints provided – the idea of efficient giving and the concern that perhaps the world has become too scientific in its approach, even in this giving space. One could take a process-oriented approach to identify communities in need, to coordinate efforts to optimise resources from a strategic standpoint by leveraging off common resources, and to compare quantitative data over time to assess impact. It would be good if all impact can be measured however, sometimes it might be enough if as a society, people have a heart for others and simply aspire to be more mindful and make giving a part of daily life.