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Date: 2024-05-20 Page is: DBtxt003.php txt00002703
COMPANY ... OIL SEARCH
2011 Creating Shared Value Inclusive Business Summit

Peter Botten, Managing Director of Oil Search, speaks at the 2011 Creating Shared Value Inclusive Business Summit presented by Business for Millennium Development

Peter Botten, Managing Director of Oil Search, speaks at the 2011 Creating Shared Value Inclusive Business Summit presented by Business for Millennium Development

PLAY YOUTUBE VIDEO Uploaded by B4MDTV on Oct 28, 2011

Original article: http://www.youtube.com/embed/VjVx-RC3izY

Peter Burgess COMMENTARY ... from 2011
The corporate organization structure is very 'efficient' especially when compared with the typical government office and their economic activities. Society would be well served if corporate efficiency could be 'cloned' into all aspects of economic activity.

The TVM view of society and the economy is that it is economic activity that creates wealth, and the most wealth is created when resources are used in the most efficient manner.

Peter Botten describes his company's commitment to providing value for the communities where they work, but has to be careful in the process not to upset investors who are seeking only profit. We need a business [performance metric that combines both the generation of business money proifit with the creation of valueadd for society. This is what TVM is all about.


Added March 2024
I am going through internet material that I have archived over the past 20+ years and found this video clip from 2011.

Over time I have concluded that the state of 'accountability' in the modern world is poor to non existant. Many ... if not most ... or modern big corporations have an unhealthy focus on profit for their investors no matter what is the impact on society as a whole and the environment.

As a practical matter the very big companies are impossible to hold to account. There are many reasons for this, not least of which is the archaic system of reporting that is required and the multitude of loopholes that have been integrated into the reporting system to make true accountability impossible.

For me this has not been a mere academic exercise. In the 1970s I was the CFO of an international shrimp fishing company that operated in about 20 different countries around the world. I saw first hand the environmental damage done by the big international oil companies who operated with complete impunity doing whatever was convenient no matter the social and environmental damage.

In the early 1980s I was recruite by IFAD to assess the situation of indigenous fisheries in the Niger Delta in Nigeria. Our team looked at the pollution caused by the international oil companies in four Nigerian States covering most of the Niger Delta and it was awful. Nobody cared ... because the international oil companies have insultated themselves from any and all real accountability behind a wall of corporate legalese and outright corruption that ensures that nothing gets in the way of their pollution and profiteering.

Pollution in Nigeria ... an image archived from the 1980s!

Peter Burgess


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