Assoc. Prof. Leonardo M. Canoy, Jr., PhD, Dean of the College of Commerce and Business Administration, emphasized the value that must be placed by entrepreneurs and employers on human capital, stressing that human resources are arguably the most important component in ensuring the success of the business.

Canoy, a human resource management expert who has been teaching for 34 years, was interviewed by RSU Wisdom TV, based in Bangkok, Thailand, on the show ASEAN Challenge. In the interview with Srikarn Nakavisut, Canoy expressed his belief in human capital and its place in a business’ success: “Of all the aspects of a business, I think the most important is still people—who can make or unmake a business.”

“Use things, love people, not love things and use people,” the Commerce dean said, citing a famous dictum he teaches his students. “[As a boss] do not be too impersonal. You still need the soft skill on how to deal and interact with people.”

To inspire people to live up to their potential, Canoy said that employers “have to motivate [that] people…to look at them as humans and not just as one of the tools or as robots in the business.” While profit and financial viability are important considerations, Canoy called on businessmen and entrepreneurs to ensure that “their focus is [not] more on money, machines, materials, and the market [to the point that they are already] neglecting the people who are actually behind the success or the failure of the business.”

The role of theories in business

An academic, Canoy affirmed the importance of learning theories and concepts in engaging in business, especially for those who undergo formal training through the acquisition of degrees.

Asked about how he teaches, Canoy said: “When I teach, I always start with the theories and principles then share the experience, as a teacher and a banker. In the college, there’s a mix of academicians and practitioners.”

As applied to real-life problems and cases, theories, according to Canoy, can serve as guidelines. “Theories were derived from general cases and also from the gurus or pioneers of management, to provide a guide. It does not mean you have to always go by the theory or the principle. There is no single theory that will guarantee success. It’s a case-to-case basis. You have to tailor it—not use it 100%—to the needs of your company.”

Link to the Full Interview:

https://www.youtube.com/watch?v=7R7InzEl4iU&fbclid=IwAR2mqVZwbubTnTEwMGfEU4p4NimQs8zhFjf8QU6Pq3C6-uD3noguKR78W2s