There is a growing trend towards businesses founded on the premise of social capital, though despite their enormous profits, most casino firms have yet to sign on.
The mission statement of these social capital corporations confers the same or higher importance to social metrics as to revenue and profit. Social enterprises measure themselves first and foremost on their contribution to society, beginning with their employees and their customers, as well as the greater community and the environment. Pure social enterprises are not-for-profit outfits.
Encouragingly, there is a rising trend of business enterprises that are responding to this higher calling and seeking to transform themselves into social enterprises to become good corporate citizens, not for the superficial purpose of good public relations but permeating through the companies’ culture from the shop floor to the boardroom.
A 2018 Deloitte report on global human capital trends surveyed CEOs and found 65 percent polled “inclusive growth”among...
Consolidation of the bases and advancement in adversity was the thrust of Macau Chief Executive’s policy address for 2021, though it gave little away when it came to the current pillar of the economy - the gaming industry.
Gaming suppliers, like all areas of the industry, have felt the pinch from the Covid-19 crisis, though their growing digital businesses have proved a bright spot and helped offset the impact of the crisis.
While nowhere in the world has escaped the economic fallout from the Covid-19 crisis, Macau has been hit harder than most, with forecasts for gross domestic product to shrink more than 50 percent this year.