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Saturday, March 2, 2024

Balancing profit and purpose: A stewardship approach

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When people establish businesses, they often only think about one thing—profit. While profit is indeed a crucial consideration for many people when establishing businesses, it’s important to note that modern business practices and philosophies are evolving. In recent years, a growing emphasis has been on incorporating broader considerations beyond profit.

Stewardship is a profound concept that transcends business; it embodies a sense of responsibility and nurturing for the resources entrusted to one’s care. Ms. Maret Follosco-Bautista, the visionary CEO of CL Follosco Group Inc., talked about her family’s remarkable journey, exemplifying the true essence of stewardship that has shaped her leadership and the company’s enduring success. During the session, it was mentioned that the true meaning of stewardship lies in core business practices, unwavering passion, steadfast mission and dedication to building a lasting legacy rooted in the company’s DNA.

While some individuals may have the advantage of being born into families with significant resources, most people have to navigate life with limited means and face various challenges in their pursuit of success. Stewardship plays a crucial role in achieving success, regardless of one’s starting point or circumstances. It is not how much we have but how well we take care of and nourish the little that we have.

The story shared with us exemplifies the power of family values and stewardship in achieving long-term success and generational continuity in business. While their family may have started with limited resources, their commitment to certain values and principles laid the foundation for their flourishing business and the ability to pass it on to future generations.

“You are responsible for creating and living your lives to build a better future for your children, grandchildren and the world,” Ms. Maret passionately declared. The essence of this sentiment is deeply rooted in the concept of stewardship. The family behind CL Follosco Group exemplified this philosophy by combining the fruits of their labor and expertise to establish their core business. Driven by their dedication and passion, they never ceased to strive for growth, always seeking to excel in what they do best.

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As the business grew, the family instilled a profound sense of purpose within CL Follosco Group. Central to this purpose was the company’s mission of providing high-quality products and services that enriched its customers’ lives while positively impacting society. The family’s unwavering commitment to a mission-driven approach, fueled by their labor, expertise, passion and dedication, led them not only to achieve success but also to embrace the responsibility of shaping a brighter future for their loved ones and the world at large.

The family is determined to leave a lasting legacy through the amalgamation of their efforts and values. Their vision extends beyond immediate gains, and they aim to build a sustainable business that thrives while contributing positively to society and the environment. This legacy is not just about financial prosperity but also about making a meaningful difference in the lives of future generations, leaving a positive imprint on the world that resonates far beyond their own time.

As an aspiring CEO, Ms. Maret’s words and the story of CL Follosco Group have deeply resonated with me, prompting profound reflection on the values that will shape my journey toward success. The concept of stewardship has opened my eyes to a broader perspective on leadership and the profound impact a business can have on society and the world.

The author is an MBA student at the Ramon V. del Rosario College of Business, DLSU. She can be reached at louise_vergara@dlsu.edu.ph.

The views expressed above are the author’s and do not necessarily reflect the official position of DLSU, its faculty and its administrators.

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