The Meaning of Inclusive Capitalism by Jay Hennick

Jay Hennick
Chairman and CEO, Colliers International; Founder and Chairman, FirstService Corporation

One of the greatest experiences in my business life has been to count the late, great, Peter Drucker as a friend and mentor. Peter's penetrating questions helped countless leaders better understand their own challenges and opportunities. In the case of Colliers International and FirstService Corporation, his counsel helped us manage our business within context. Balancing and prioritizing issues that really matter has made all the difference to our success.

When he was asked about his greatest accomplishment during his long life, Peter said that he was most proud of the fact that he was the first to establish the study of management as a discipline (a discipline that extended beyond the realm of business to encompass all governing organisms). And then he added this important postscript: "I focused this discipline on people and power; on values, structure and constitution; but above all, on responsibilities".

So when asked, "What does inclusive capitalism mean to me?" I find myself reflecting back on my time with Peter to find the answer - and it lies in the word 'responsibility'.

Managers (whether in business, politics or the not-for profit sector), those individuals who lead organizations, also have a responsibility to provide ethical leadership of the highest order. They must be responsible for the impact of their actions, the actions of their organizations and the people they represent. They should also seek out opportunities to collaborate with others, in like positions, to share information and ideas that can advance our society to a new and higher level of achievement. Therein lies the value of a conference such as this.