{"id":154412,"date":"2019-05-12T18:40:34","date_gmt":"2019-05-12T18:40:34","guid":{"rendered":"http:\/\/focolaremalta.org\/?p=154412"},"modified":"2019-09-05T12:38:01","modified_gmt":"2019-09-05T10:38:01","slug":"seminar-which-profit-has-the-greatest-value","status":"publish","type":"post","link":"https:\/\/focolaremalta.org\/en\/seminar-which-profit-has-the-greatest-value\/","title":{"rendered":"Seminar: “Which Profit has the Greatest Value?”"},"content":{"rendered":"

\"\"<\/a>How often does one get to discuss the economy and work with the help of experts in the field and yet free from any commercial, political or personal constraints? Not very often. Yet this was the experience of those who participated in the seminar entitled \u201cWhich Profit has the greatest Value?\u201d organized by the Focolare Movement on 7th<\/sup> April.<\/p>\n

A brief presentation introduced the topic to the large audience present.<\/strong> It highlighted the prevalent view in Business Studies and practice that the ultimate goal of any business is to make a profit. Our forefathers were clearly on the same wavelength considering various sayings such as \u2018In business there should be no friends\u2019, or \u2018No business with friends\u2019. The relentless drive to cut costs may lead companies to employ workers who are ready to be paid less, use legislative loop-holes and at times disregard Health and Safety regulations. Some businesses may go to the extent of relocating in search of ever lower wages, weaker enforcement of work standards and total disregard for the environment.<\/p>\n

The current economic set up has resulted in 26 individuals accumulating wealth that is equivalent to that of the poorest half of the world\u2019s population. In other words, 26 persons own as much wealth as 3.2 billion persons.\u00a0 In fact statistics show that 10.9 % of the world\u2019s population now lives on less than 2 US dollars.<\/p>\n

The audience was then challenged to ask whether profit in business or the economic growth of a nation are still the ideal or only partial indicators of success. Are positive bottom lines still offering the best guarantee to a better quality of life for each individual.\u00a0 Are all the people in the world\u2019s economies advancing at an equal pace?<\/p>\n

\"\"<\/a>The issues were then discussed extensively by a panel of experts<\/strong> including Professor Simone Borg<\/strong>, Head of the Department of Environmental and Resources Law at the University, Joseph F. X. Zahra<\/strong> an economist and corporate consultant appointed by Pope Francis to lead the Vatican’s economic and administrative reform commission, Dr Arthur Galea Salomone<\/strong>, a lawyer and former Malta Stock Exchange Chairman and bank director, Mrs Vivienne Attard<\/strong>, former chairperson of The Voice English Language School and Ms Giulia Pace<\/strong>, Consultant in Economics at EY.<\/p>\n

It is evident that economic systems are not delivering a fair distribution of wealth. Pope Francis reminds us that the word \u201csolidarity\u201d is missing from many project proposals. Which new business model can guarantee \u201csolidarity\u201d?<\/p>\n

The speakers highlighted the need for a greater education in moral behaviour and ethics and against indifference, hypocrisy and double standards. There is a greater awareness that it is not just the shareholder of the company that has a voice which must be heard, but all stakeholders including the workers and the community where the business operates. Consumer awareness through education is also having an impact on buying and consumption habits. Every consumer can make a difference in our daily life, promoting a circular economy that ensures whoever sells is also taking care of properly disposing of the waste generated by its product.<\/p>\n

The most valid bottom line ought to be the dignity of the human person. Profit is necessary, but every business should aim to be a community of persons giving a service to society.<\/p>\n

The greater number of women in the work environment may be \u00a0contributing to a more humane approach and a greater awareness that, in a more integrated approach, the business financials have to take account not only of profit but of staff and the community. Governments and the corporate community worldwide also need to agree on how to recognise the highly valuable contribution of those persons who opt to quit work for some time in order to raise their children.<\/p>\n

Professor Simone Borg underlined the need to protect the environment. The words \u201cEcology\u201d and \u201cEconomy\u201d both derive from the Greek word for \u201chousehold\u201d, but are world economies truly managing our earth home? Are we seeking the general well-being of the individual?<\/p>\n

\"\"<\/a>Mrs Vivienne Attard then gave a presentation on The Economy of Communion<\/strong>, an initiative of the Focolare Movement and a concrete attempt to address acute social problems by creating businesses that are integral parts of their communities. The project requires member businesses to commit, after an appropriate investment in the sustainability of the business, a part of their profits to direct aid for those in need and another part toward nurturing a \u201cculture of giving\u201d.<\/p>\n

The Economy of Communion is able to help those in need through profits generated by the businesses, but also considers as paramount its fair and humane treatment of employees, clients, and the general public.<\/p>\n

Mrs Attard was a founder member of a language school in Malta incorporated 25 years ago as an Economy of Communion business. She kicked off her presentation by quoting a short excerpt from Pope Francis\u2019 Apostolic Letter \u2018Evangelii Gaudium<\/em>\u2019:<\/p>\n

\u201cIt is true (…) that very often we see injustices, evil, indifference (…) but good always blossoms and spreads.\u00a0 Everyday in the world, beauty sprouts up again, and spreads over the upheaval of history.\u201d<\/em><\/p>\n

Such a proposal in a world which makes money as its idol might easily lead one to think that this is merely utopic or to ask:\u00a0 but can this actually take place?\u00a0 In 1992, just a year later, there were already 230 businesses ready to adhere to this proposal.\u00a0 Today they number more than 700 and there are also Industrial Estates where all businesses embrace the spirit of the Economy of Communion.\u00a0 Chiara Lubich had stressed that the Economy of Communion should not limit itself to spawning new businesses, but should become a science. This website<\/a> links to scores of theses on the topic submitted by students from all continents.<\/p>\n

\"\"<\/a>This proposal managed to bring together two realities \u2013 those of Economy and Communion \u2013 that contemporary culture keeps apart, if not even puts at loggerheads.\u00a0 So it does not only embrace the traditional principles of social ethics such as honesty and transparency, but also enhances other principles such as those of gratuity, reciprocity and fraternity.<\/p>\n

In this Economy, the owner of the business is an agent of communion, not merely because she\/he is ready to give part of the profit at the end of the year, but more so because she\/he is ready to change one’s behaviour with others, in not letting power overcome, in building genuine relationships, in creating an environment of morally sound leadership.<\/p>\n

The Economy of Communion is an economy of fraternity, that not only puts the human being at its centre spurring one to love others as oneself, but also to love other businesses as one\u2019s own. It upholds social responsibility and therefore works in the interest of all those involved in the business.\u00a0 Not only does it seek to overcome poverty by sharing goods, but also promotes new attitudes towards the poor, and considers those in need as partners who can give their share in this project.<\/p>\n

The Economy of Communion is a voice in a changing world:\u00a0 a small voice compared to the strong voices of the economy of the world.\u00a0 But its roots lie in \u201ca need etched in the heart of man who was created in the image of God who is Love and\u00a0 who finds fulfilment when he loves and gives of what is his\u201d \u2013 this is how Chiara Lubich explained it, so we believe that in it lies a strength \u2013 that strength of \u201ctwo fishes and five loaves that can feed the multitudes\u201d as Pope Frances told us.<\/p>\n

The Economy of Communion is a dynamic reality and has lead to the Prophetic Economy<\/a>.\u00a0 In the words of the American Economist Jeffrey Sachs it is “an economy that operates (…) in the vision of justice and peace, satisfying the needs of the poorest and protecting creation”.<\/p>\n

\"\"<\/a>The final part of the seminar brought the high ideals spoken of within our reach<\/strong> as an industrialist, a technician working in Malta for the past three years and a young entrepreneur shared the work ethics and practices in their working lives. Respect for the law and appreciation of each individual, be it a colleague, a client or someone asking for a job, were normal ways of doing business but generated relationships that lasted a lifetime and enhanced their profits in more ways than one would expect.<\/p>\n

The young also had a lot to contribute and Lea Ungaro<\/strong> and Joanne Ciantar<\/strong> did not disappoint. Lea shared her views on work incentives for young people, sustainable development, precarious work and education that maximizes students’ abilities, among other opinions that she had presented at the Young People’s Parliament.<\/p>\n

Joanne clearly explained the link between the economy and the environment and shared her life-changing decisions in her effort to do her bit for the planet while working with other activists to bring real change where it matters.<\/p>\n

It was a Seminar that provided a lot of food for thought but also a great deal of hope especially as we saw evidence of the Prophetic Economy taking off both on the micro and the macro level.<\/p>\n

Sonia & Andr\u00e9 Camilleri<\/p>\n

\n

See published article in New City Magazine: https:\/\/www.newcity.co.uk\/july-2019-n-535\/<\/a><\/p>","protected":false},"excerpt":{"rendered":"

How often does one get to discuss the economy and work with the help of experts in the field and yet free from any commercial, political or personal constraints? Not very often. Yet this was the experience of those who participated in this seminar organized by the Focolare Movement on 7th April 2019.<\/p>\n","protected":false},"author":2,"featured_media":154414,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[3],"tags":[],"class_list":["post-154412","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news"],"yoast_head":"\nSeminar: "Which Profit has the Greatest Value?" - Focolare Movement<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/focolaremalta.org\/seminar-which-profit-has-the-greatest-value\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"[:mt]Seminar: "Liema profitt g\u0127andu l-ikbar valur?"[:en]Seminar: "Which Profit has the Greatest Value?"[:] - Focolare Movement\" \/>\n<meta property=\"og:description\" content=\"[:mt]Kemm hu fa\u010bli li wie\u0127ed jiddiskuti l-ekonomija u x-xog\u0127ol bl-g\u0127ajnuna ta' esperti fil-qasam i\u017cda ming\u0127ajr xkiel kummer\u010bjali, politiku jew personali? Din kienet l-esperjenza ta' dawk li \u0127adu sehem fis-seminar organizzat mill-Moviment tal-Fokolari fis-7 ta' April.[:en]How often does one get to discuss the economy and work with the help of experts in the field and yet free from any commercial, political or personal constraints? Not very often. 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Din kienet l-esperjenza ta' dawk li \u0127adu sehem fis-seminar organizzat mill-Moviment tal-Fokolari fis-7 ta' April.[:en]How often does one get to discuss the economy and work with the help of experts in the field and yet free from any commercial, political or personal constraints? Not very often. 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