The second “Businesses for the Common Good” conference organised by the Autonomous Technological Institute of Mexico (ITAM) took place on April 28. This event was moderated by Cecilia Ortiz, Director of the Bachelor of Administration, Ileana López, professor of the Academic Department of Administration, Executive Director of the Association of Mexican Entrepreneurs in the USA and representative of the Mexican Association for the Economy for the Common Good (ECG), together with Juan Carlos Belasteguigoitia, Director of the Center for Energy and Resources Natives of ITAM.

More than 800 ex alumni and general public registered this year. Institutions such as B Corps, UN Global Compact and the Economy for the Common Good (ECG) came together to discuss the current opportunities and challenges that businesses are facing because of the pandemic and the climate emergency, and how to flourish without losing sight of what really matters: an improvement in people’s quality of life and greater environmental sustainability. Speakers presented different strategies implemented by companies and the steps that have been taken worldwide to move closer to this new reality.

ECG proposed to directly measure what is most valuable: the quality of relationships, health, well-being, democracy, peace and the health of ecosystems. More people should be involved in this process. Individuals can meet and make joint proposals that are filtered and, through a search for the common good, the final goal of finding balance in companies is established. Measuring the impact of solidarity, justice, sustainability, the dignity of human beings and the transparency of companies are elements to be considered. It is important to measure these achievements in order to assess the scope and potential improvements that can help drive the movement and society forward.

“Economy” is not a recent concept. The term was initially defined by Aristotle as “the rules to manage the common good”, an idea contrary to capitalism. Recent data indicates the need and opportunity for businesses to focus on the common good. Consumers are willing to pay a higher price in exchange for a good or service that gives them a better benefit and that is the result of an ethical supply chain.

A recording from last years’ event is available.

Image credits: @jopwell / pexels