Companies need to be stakeholder-driven with focus on sustainability: Economist Philip Kotler

Kotler said that in the post-pandemic world, businesses must not think just as profit machines but in terms of making the world a better place to live and sustain.

New Delhi: Amid the ongoing COVID-19 pandemic that has disrupted businesses and lives of people around the world, renowned American economist Professor Philip Kotler called for a need for companies to prioritise all stakeholders instead of just focusing on their shareholders. Kotler said that in the post-pandemic world, businesses must not think just as profit machines but in terms of making the world a better place to live and sustain. “Earth, this planet, is our stakeholder and companies should focus on making this world a better place by bringing in transparency as part of their corporate social responsibility,” said Kotler at the 17th international conference on ‘Management Strategies: Retrieval, Resilience & Re-modelling in post-COVID World’ organised by Jagannath International Management School, Vasant Kunj on Saturday.