Business
Practices of the Economy of Communion
by Tita Datu Puangco
Can you imagine a third economic system
beyond Liberal Capitalism and Communism? A system that seeks to create a more
inclusive society where progress and development bridge rather than
increase the gap between the rich and the poor? This is the Economy of
Communion (EOC). It is centered on the belief in God and Providence on top of
developing the company's
strategies and people competencies. It drives
and produces profits for a higher purpose. Profits are not simply the
bottom line in terms of cash but also encompass relational and social profits.
This is the Economy of Communion now being studied and developed as a
concept and theory by Sophia University in Rome Italy, based on evidence of
close to a thousand companies worldwide.
Origins
of the Economy of Communion
In May 1991 Chiara Lubich and
her companions were circling São Paulo , Brazil in a plane preparing to land. Chiara is
the founder of the Focolare Movement, a Catholic based Movement whose
charism is unity working to fulfil the wish of Jesus “That All May Be
One". It is a movement that is inclusive, open to people of
different countries, cultures and faiths. Lubich was struck by the sight of huge skyscrapers
surrounded by favelas or squatter areas. Talking before the Focolare
communities of Brazil, she launched what she called the Economy of Communion,
designed to create communion between the rich and the poor.
Heart of
EOC
It was a proactive response to very real social
problems and imbalanced economy and to excesses of liberal capitalism in
general. The proposal made to businesses was primarily to help reduce
poverty and inequality. EOC reforms capitalism through the manner how enterprise is run by the entrepreneur. This is done through sharing
of profits and introducing organization dynamics based on sharing and
reciprocity.
Celebrating 25 Years
The Economy of Communion held last February
2 to 5, 2017 the international meeting involving commissions, associations and
industrial parks. It involved close to a thousand participants coming
from 55 countries. The program started with the incubation Boot Camp
showing the results, activities and practices of innovation and how
to accompany new entrepreneurs. Luigino Bruni, the global
responsible talked about how EOC has emerged after 25 years. Then the
participants were divided into geographic groups inviting them to make
proposals for 2018-2020.
Audience with Pope Francis
The highlight of the meeting was the audience with Pope Francis and his message of joy and courage encouraging insights,
reflection even conversion among participants. In his talk, Pope Francis
called for a change of “the rules of the game of the socio-economic system
adding “imitating the Good Samaritan of the Gospel is not enough.
Economy and Communion are two words that contemporary culture keeps separate and
often considers opposites. He commended EOC for holding their profits in communion and warned the danger posed by money.
View of Money
“Money is important specially for our basic needs; food, clothes, shelter and school for children's future will all depend on money. But when it
becomes an idol and becomes the aim, the "goddess fortune" has
become the divinity of a hazardous financial system which is destroying millions of
families around the world. The idolatrous worship is a surrogate for
eternal life... when one has money, he can delude himself of conquering
death", he explained.
Gift of
Self
The Pope told the members of EOC, “The first
gift is the gift of self. Your money, although important is too little.
Capitalism knows philanthropy, not communion. It is simple to give a part of the profits,
without embracing and touching the people who receive those crumbs.
Instead even just 5 loaves 2 fishes can feed the multitude if they are
sharing of all of our life. "In conclusion, he noted, " May the 'no' to an
economy that kills become a 'yes' to an economy that let live, because it shares,
includes the poor, uses profits to create communion. He urges the
members, " to continue to be the seed, salt and leaven of another economy: the
economy of the kingdom, where the rich know how to share their wealth and the
poor are called blessed.
Practices of Communion
The Economy of Communion has business practices
called structures of grace that draw entrepreneurs, workers, directors,
consumers, citizens, scholars, economists at all levels promoting a practice
and an economic culture imprinted on communion, gratuity and
reciprocity. Through these practices, EOC proposes an alternative lifestyle to the
dominant one within the capitalistic system that cause strain and stress
through clear divides between, owners, management and workers.
Humanizing
Business
In the book “Structures of Grace" Jim
Gallagher and Jeanne Buckeye write about business practices of EOC.
Changing the world means “humanizing" the economy by consistently privileging
relationships over profit maximizing".
Key Practices
Observations noted in the study are the
business practices and culture of an EOC company. One, it uses modern
business practices and methods to be efficient. It establishes quality standards so
that its products and services meet contractual obligations as
well us delight customers. The company practices fair play with competitors, suppliers,
customers and business partners. This creates atmospheres of
mutual respect and trust with competitors, suppliers, customers and
employees.
Two, Business leaders comply with the law
and maintain ethical dealings with tax authorities, regulatory agencies and
labor unions. Third, it applies management systems and structures that
foster teamwork and personal development, employing decentralized control and
shared leadership.
Philippine Stories
Let us take the case of Bangko
Kabayan, (originally Ibaan Rural Bank) a rural bank founded in 1957 with the end goal of
uplifting the quality of life of people in the countryside through
micro-credit. In 1991, it linked itself to the Economy of Communion.
In 2007, it celebrated its 50th anniversary with
the achievement of becoming a solid rural bank in the region. That year, it
received the “Best Capital Build-up” in the Land Bank Awards and was
included in the Global Top Ten of Microfinance Information Exchange (MIX).
In celebration of its 59th anniversary it launched its upgraded level as a
Private Development Bank. It has consistently maintained its CAMELS rating of
4 in the past 4 years. It has now 23 branches in the provinces of
Batangas, Quezon and Laguna.
Extending our invitation to everyone
entrepreneurs, the academe and the youth to share in the spirit of the Economy of
Communion.
