Stewardship Asia Centre's new book ENTRUSTED Examines How Stewardship Can Guide Responsible Corporate Behaviour in a Disrupted World
Singapore, 7 October, 2019 – Stewardship Asia Centre is pleased to announce the launch of its new book ENTRUSTED today. Co-written by Ong Boon Hwee, CEO of Stewardship Asia Centre, and Mark Goyder, Founder and Trustee of Tomorrow’s Company, and published by homegrown international publisher World Scientific, the book discusses corporate stewardship ideas and offers practical guidance for all within the business ecosystem. ENTRUSTED aims to help business leaders understand and embrace the urgent transformational shift required to build organisations that focus on the long term health of the company, and future value creation to benefit society and future generations.
The world is confronted with pressing issues that have the potential to impact the well-being of generations to come. In the face of current geopolitical, economic and environmental challenges, the notion of stewardship has never been more relevant to business than it is today. Increasingly, businesses are expected to practise a more responsible form of capitalism – placing profits as the only priority is no longer viable. Stewardship in action should be embedded throughout the value chain – from asset owners, asset managers, investors, shareholders, board directors, management, to policymakers and regulators.
Drawing from examples and perspectives from both the East and West, the authors seek to demystify stewardship and define a clear action agenda for all along this value chain. Well-stewarded companies possess clear purpose and ownership mentality, and display a strong focus on relationships, the long term, and the community. Integrating these concepts into a company’s operating model will ensure all resources within our wealth creation system are mobilised to better serve human purposes.
“There is a growing urgency for leaders of today and tomorrow to make stewardship the driving force behind their business decisions,” says Ong Boon Hwee. “Stewardship provides the positive solutions and defines the contribution we all want business and investment to make. By placing human purpose at the centre of business activity and acknowledging the interdependence of our economic, social and environmental needs, we will be taking a significant step together towards forging a future that is more inclusive, more equitable, and more respectful of our society, and safeguards the needs of future generations.”
As co-author Mark Goyder elaborates: “Stewardship puts the company first, and in doing so, goes beyond a decades-old shareholder versus stakeholder debate. It’s time we moved beyond this to wealth creation that puts people first. We look for inspiration to owners of long-lived family businesses. There we find a desire to pass on a business, with its assets, relationships, and values, in better condition than they inherited them.” Recognising the relevance of the book to the business community, Max Phua, Managing Director, World Scientific, said, “A profits-at-any-cost agenda is unsustainable and it is clear that we cannot continue to walk down this path indefinitely. There is such a strong need for the concepts of stewardship to be at the forefront of everything that we are part of. World Scientific is proud to publish this excellent resource that will serve as a reminder and guide for organisations and leaders alike to think in a responsible sustainable manner.”
The 260-page ENTRUSTED: Stewardship for Responsible Wealth Creation is published by World Scientific Publishing, and is available at major bookstores including Kinokuniya, Times, and is priced at S$28 (paperback - 978-981-120-756-3).
To interview the authors or for a review copy of the book, please refer to the contacts below.
Ms. Yenching Tee
Stewardship Asia Centre
Jamie Tan / Nicole Lim
About the authors
Ong Boon Hwee is the CEO of Stewardship Asia Centre (SAC), a Singapore-based thought leadership centre established under Temasek Trust. Ong directs SAC's efforts towards propagating the concept of responsible wealth creation so that organisations can create economic and societal value over time to benefit the wider community and future generations. Ong is the co-author of the book — Inspiring Stewardship and has published a number of papers and articles on stewardship.
Mark Goyder is the founder and trustee of Tomorrow's Company (TC), a London-based business think tank which he founded in 1996 and led until his retirement in 2017. TC works with business leaders, investors, policymakers and other partners to champion the importance of business purpose beyond profit, as well as to inspire and lead businesses to be a force for good in society. In recent years, Goyder has concentrated on the issue of board and investor responsibilities for stewardship. He is also the author of the book — Living Tomorrow's Company: Rediscovering the Human Purposes of Business.
About Stewardship Asia Centre (SAC)
Stewardship Asia Centre is a thought leadership centre promoting effective stewardship and governance across Asia. Positioned to inspire and catalyse change, SAC builds capabilities and platforms that enable organisations to foster enduring success and responsible wealth creation for the long-term, and to benefit the wider community and future generations. SAC is a non-profit organisation established under the Temasek Trust.
Find out more at www.stewardshipasia.com.sg.
About World Scientific Publishing
World Scientific Publishing is a leading international independent publisher of books and journals for the scholarly, research and professional communities. World Scientific collaborates with prestigious organisations like the Nobel Foundation and US National Academies Press to bring high quality academic and professional content to researchers and academics worldwide. The company publishes about 600 books annually and 135 journals in various fields. To find out more about World Scientific, please visit www.worldscientific.com.