Below, inspiring excerpts from the words of panel member Claire Chiang, senior vice president, Banyan Tree Holdings, a Singapore-based developer of high-end resorts, hotels, and spas in the Asia-Pacific:

    "When we talk about corporate social responsibility, it's not about altruism, philanthropy or charity. The very understanding I have of corporate social responsibility is a value proposition that is not only sufficient but a necessary business imperative for the 21st century. It is the kind of organisation that you, as future leaders, will have to build to be sustainable and competitive. It is not something you do extra out of profits. In fact, your profits will depend on how you drive this value proposition through your organisations. So it is not a PR exercise, not something you do with your free time, not something to be executed by your human resources manager, not something you do as volunteer hours.

    "It should be in your management creed. … You build the management infrastructure along these lines and have the values filter through even down to the gardener in your organisation. It's not something you do to feel good. It's really something you do to create real good. And that's what it means -- change and empowerment.

    "Somebody calls it corporate social responsibility with the triple bottom line of corporate governance, environment protection and quality engagement. The Shell Company calls it the three P's: people, planet and profits. The important thing is that businesses no longer are able to just play the role of wealth creation only for themselves and the shareholders. Businesses have to create wealth for their stakeholders who include the community, consumers, partners, investors, you and me. It must be an integrated perspective that looks at business playing a role in creating real good for the people. I challenge you therefore to rethink, as leaders of the future, what kind of values you should learn."

    First published March 3, 2008. Reproduced with permission from Knowledge@SMU (http://knowledge.smu.edu.sg). © Copyright 2008 Singapore Management University. All Rights Reserved.