Business Times: Thrive And Survive – Building Resilient Businesses

Chia Tek Yew, Oliver Wyman’s Vice Chairman Singapore weighed in on “What is most critical in building enduring, resilient businesses?” in The Business Times – Views from the top. He attributes corporate purpose, culture, and strategy as the three important components to ensure the delivery of a corporate promise to create long-term value for the environment and society.

“I believe that corporate purpose, which guides the culture of the company and is embedded into its strategy, is most critical in building enduring resilient businesses. In essence, all three components are important as they collectively serve to ensure that the corporate purpose or promise is actually delivered. For example, a company that believes that its purpose is to create shared value with all its stakeholders over a prolonged period of time will have to develop a culture of collaboration with its clients, suppliers, staff and even competitors, and have a strategy that measures the value created for all instead of only the value derived for itself. This would include value created for the environment and society, and with timelines that stretch beyond the financial reporting cycles or the tenure of current senior management.”

Read the full article here.