Firms emphasis 'too much on profits'

Li Xinchun, former dean of the business school at Sun Yat-sen University, said business schools play an important role in educating entrepreneurs.

"Many entrepreneurs globally are entering business school for further education. Here, entrepreneurs should be educated about what they should do, what is worthy of doing. Sometimes, a course of action may not lead to a quick profit but it will bring healthy development in the longer term," Li said.

Mahendra R. Gupta, dean of the Olin Business School at Washington University in St Louis, believes many factors should be included in the assessment of a company's success, not just profit.

"A successful company should also take its social responsibility seriously while making a profit. Managers should learn to help people, communities and society while gaining management knowledge," he said.

The Olin Business School has carried out an executive MBA program with Chinese business schools for years that focuses on the cultivation of a global perspective in the business education of managers.

"This is a course for mutual study. Chinese managers can learn from the experiences of US companies while managers from other countries will also have a better understanding of China," he told China Daily during a recent trip to Shanghai.

Dave Schoch, chief executive officer of Ford Motor China, believes that a company should not only manufacture great products but also provide value to society in a way that builds a strong business and better society.

"We have tied our company's economic health to the environmental health of our planet and to the broader social health of the communities in which we operate. In other words, sustainability targets fundamentally affect the way we run our business," Schoch said.

He said sustainability is one of the core values and is at the heart of business. It is important to have a full understanding of such a core value. As early as in 2000, Ford initiated its Conservation and Environmental Grants, China program, which to date has supported 278 trailblazing environmental organizations and individuals.

Yuan Yue, chairman of Horizon Consulting Group, the parent company of Progress Strategy, sees the connection between personal moral requirements and enterprises as relevant.

"Many people like to talk about the outer environment, government policy and over-strong government interference. But it's more of an excuse as enterprises' development depends on individual behavior. For a healthy enterprise, I think, the entrepreneur should know his boundary for responsibility when conducting business."

wanghongyi@chinadaily.com.cn