Budget 2027 recognizes that in times of complexity, volatility and change it is people - specifically their ingenuity, skills, relationships and unique talents - that are vital for the future progress and success. Why do a person pick one coffee shop over another? Because people prefer to do business with companies we like and trust. People increasingly want to support businesses that operate with a moral code: businesses they know, like and trust. The global trend for ‘conscious’ business has become increasingly important with the palpable shift away from companies, organizations or governments. ‘Humanistic businesses’ are people-focused and conscious of their obligations towards offering value and building positive relationships with all of their investors & stakeholders.
As CEO Sejahtera Leadership Initiative (SLI) & Global Sejahtera, I found Budget 2027 tabled by Prime Minister Datuk Seri Anwar Ibrahim in the Parliament, makes an invaluable contribution in support of humanistic management practices by delivering a template for businesses can succeed by establishing a meaningful relation between people, the planet and profit. It provides a practical, indispensable guide to succeeding in the 21st century. Budget 2027 “Reaching for the Skies, While Anchored on Our Values” integrates the concept of humanistic, household financial support, and people-centric business growth by balancing economic competitiveness with MSMEs entrepreneur and worker wellbeing under the MADANI Economy Framework, and the 13th Malaysia Plan.
SLI & Global Sejahtera believes the transition from policy to practice, businesses can implement the MADANI humanistic principles through the lenses of Compassionate Leadership and Conscious Capitalism. This involves shifting from short-term profit maximization to long-term stakeholder value. So, treat suppliers and vendors as true partners and ensure fair payment terms, especially for micro-suppliers affected by economic shifts. Align the corporate social responsibility (CSR) with local community needs, focusing on sustainable development and local hiring. Use the digital and automation grants from Budget 2027 to implement green technologies that reduce carbon footprint and waste. This compliments the government's expanded tax reliefs for health & parental care.
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