2019 Social Value Forum Held
2019 Social Value Forum, hosted by KUBS and IBRE and sponsored by SK SUPEX SV committee, was held on Oct. 24 at Hyundai-Motor Hall. This time, the forum was held under the theme of "Social Values and Sustainable Management." Attending the forum were Dean Kim Jae Wook, Professor Bae Johngseok, Associate Dean Chris Changwha Chung, Keynote Speaker Professor Pratima Bansal (University of Western Ontario), Professor Kang Hyung-koo (Hanyang University), Kim Jae-hyun (Crevisse Partners CEO) and Dr. Song Hee-chan (Chulalongkorn University).
"Today's forum is the beginning of the 'Social Value and Sustainable Management' project of KUBS," Professor Bae said in his opening speech. "It is an honor to have Professor Pratima Bansal, an authority in the field, and I hope it will be a meaningful time for everyone."
Dean Kim then began his congratulatory speech, saying, "I thank the Professor Bae and Professor Moon for preparing for the event." "In the past, business was more about making profit, but now we should focus more on how to make profit in moral ways, and how to use it wisely.” He said that the goal of KUBS is to apply those concepts in the curriculum to foster the future leaders interested in the area.
Professor Pratima Bansal, who was in charge of the presentation under the theme "Sustainable Development in an Age of Disruption," first explained the definition of sustainable development. "Sustainable development is about people," she said. "It's not about the environment, as portrayed in the conventional concept.” She also stressed that sustainable development is to make sure that the next generation is better off as we are now, or simply put, to keep the "intergenerational equity." Professor Bansal also said, "Until now, business schools have been busy teaching students how to achieve growth and make money. We should avoid from this principle and find out a new way of teaching.”
Professor Kang then took charge of a short presentation on "Insurance Mechanism of Corporate Social Responsibility: A Deeper Look." Professor Kang explained the concept of "Corporate Social Responsibility," or CSR, as an insurance concept. “Insurance is a put option,” he said, adding that a company's put option reveals whether the company's CSR activities are worth of an insurance.
Next presenter, Kim Jae-hyun, Crevisse Partners CEO, gave a presentation under the theme of "Impact Investing." He said, "Impact Investing is where the social values and financial values intertwine.” “Before, the market was driven by invisible hands, but now it moves by invisible ‘heart,’ so to say. It's an investment technique that allows capitalism to become more democratic,” he added.
During the panel discussion, the audience and presenters continued to engage in heated discussions. Dr. Song explained sustainable development from a Buddhist perspective and asked a question about what could make sustainable development. "It's important to keep the pace of the biological world and the technological," Professor Bansal said. "For this, the transition to a new mindset is essential," Another discussion was about the role of a business school. Professor Kang said, "Some people call it the crisis of a business school, but i think it’s because we failed to jump on the huge trend of sustainable development." “Students are also consumers,” he addressed, adding that it would be necessary to provide useful contents about social issues to business school students. Toward the end of the panel discussion, Professor Bansal said, "You are the generation that will make a difference from the stauts quo," which touched the heart of the audience.