“ A company is a community of people serving other people within a society of people.  Only after considering this do capital, facilities, technology, and legal realities have a place.” This was the sentiment expressed by the Grand Chancellor of the University of Navarra, Monsignor Fernando Ocáriz, during his visit to the  IESE  campus in Barcelona to participate in the academic congress “ The Company and its Social Responsibilities ,” which commemorated  IESE’s 60th anniversary.

As an IESE alumnus  , I’d like to share a summary of this interesting lecture. At the end of this post, you’ll find a link if you’d like to download the full text of the lecture, titled ” IESE and the Role of Business in Society. “

The company, a positive reality

In his speech, Monsignor Ocáriz reflected on what we understand today by company, linking these organizations not only with economic results, but also with the fundamental pillars of our society.

Today, companies don’t have a good reputation, and the media reminds us daily of “the excessive focus on financial results, inhumane working conditions, and schedules incompatible with family needs.” For the Grand Chancellor, “there are certainly reasons for this pessimistic view, but this is not the final word.”

“ If a company is a community of people, it’s not valid to judge it solely on its results.  People must be both the protagonists and the beneficiaries of the actions that take place within organizations. It’s legitimate to strive for a satisfactory return on capital, but always avoiding the temptation to seek money, power, and personal success above all else,” he added.

The meaning of work

Reflecting on the importance of work for human development, Bishop Ocáriz affirmed that more important than the results is the personal transformation each individual undergoes: “ The workplace  is, without a doubt,  a great  transformer of  people and an expression of their freedom, which is a fundamental value and an inalienable right that must be promoted and protected . It is an expression of the sociability of the person who needs relationships with others to satisfy their material and spiritual needs, to give meaning to their work, to serve others, to know themselves, and to achieve their full potential.”

“In our workplace,” he continued, “there is a constant exchange of benefits every day. We receive a lot, not just a salary, but also knowledge, skills, relationships, and friendships. And, at the same time, we give a lot: time, effort, attention, enthusiasm, knowledge, experience… We give all of that to the company, to our families, and to society in general, and we receive from all of them. So even the most selfish, who perhaps conceived of their work solely as a means to satisfy their personal interests, end up serving others.”

The role of managers is fundamental to making this humanistic vision of business and work possible. “What is the  main task of a manager? To convene, train, guide, demand, encourage, care for, and, at times, heal the team of people who will carry out the company’s activities ,” said the Grand Chancellor.

Along these lines, he also recalled the words of Saint Josemaría, founder of the University of Navarra, who, during his visit to IESE in 1972, said that ” the first virtue that the businessman must practice is charity, because justice alone is not enough .”

60 years leaving a mark on people

Monsignor Ocáriz emphasized that since its origins,  IESE has conceived of the company  “not only as capital that seeks to generate a return, nor as facilities that provide work for people, nor even as a project that provides services to consumers and workers, but above all  as a community of people .”

“Since that first management training program that began in November 1958, IESE has undergone remarkable changes that have resulted in professional and personal improvement for the  thousands of women and men who have benefited from the impact IESE has had on society ,” he commented.

The Grand Chancellor’s address concluded with a look to the future: “Much remains to be done: new generations arrive in your classrooms every day, your programs are multiplying, you are reaching more and more countries, your research is receiving well-deserved praise… But  what distinguishes IESE is its constant reference to ethical and moral values  . Always remain  true to them .”

You can download the full conference here.

See also ” Another way of looking at the company “

Business leaders can forge the connections upon which our well-being depends. Here are some  tips for harnessing the benefits of working together, based on research by IESE professors.