MANILA – Socially responsible brands make more profits, as corporate values become appealing to consumers, a Nepalese billionaire who runs a wellness resort in the Philippines said.
Supporting employees, caring for the environment and providing hygienic working conditions are just few of the many opportunities businesses have to become “purposeful,” Chaudhary Group (CG) Hospitality chairman Binod Chaudhary told ANC’s The Boss.
CG Hospitality operates the wellness resort The Farm At San Benito in Lipa, Batangas.
“More and more if you look at the trend globally, people associate themselves with brands which they believe are doing something good for the world,” Chaudhary said.
“I think they make bigger money than anybody else because when employees and stakeholders know that your company is socially responsible, people shift their preferences towards you. It’s an automatic PR, and a very powerful PR,” he added.
Philanthropy and social conscience became the center of Chaudhary’s leadership style after he survived an earthquake in Chile in 2010, and other disaster in Nepal in 2015. Near-death experiences changed his perspective in life, the billionaire said.
“You keep planning for the next 10 years, 20 years, 50 years, if God forbid, if my existence had ended that day, in 2010, what would have people remembered me for? That question started to play up in my mind. And I think that brought in a complete way of thinking about life,” he said.
Chaudhary said he was working on making all his businesses "socially-oriented." CG Hospitality has a portfolio of 95 hotels and resorts in 12 countries under a range of brands.
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