In the increasingly demanding and ruthlessly efficient world of business, innovative strategies and environmental awareness play a vital role in corporate success, veteran business leaders said at a seminar yesterday.

CEOs and senior managers from various sectors spoke on the fast changing economy, especially the developments of the past few decades.

Veteran business leaders said innovative strategies and a profound understanding of market dynamics were their top concern while doing business in an increasing integrating world. Environmental issues, too, should be put on the working list, they said, instead of just focusing on profit growth.

The business leaders' seminar, organized by leading US TV business news channel CNBC and presented by Citigroup Private Bank, invited senior managers and CEOs, including McKinsey and Company Director Jonathan Woetzel, Institute for Human Excellence Chairman Sir John Whitmore and Esquel Group CEO Marjorie Yang.

Speaking on enterprises' strategy, Woetzel said that at the core of all great corporate success lay an inherent and profound understanding of market dynamics.

As a consultant specialist who has been working in China for over a decade, Woetzel advises, often in Putonghua, Chinese enterprises on the strategies they should adopt.

Investments should have long-term plans, but the goal should be to realize profits now - unprofitable things shouldn't be done, he said. His advice to ambitious CEOs is to earnestly support their employees.

Woetzel said the financing methods of Chinese companies have gradually changed from traditional bank loans to securities and the bond market.

More and more Chinese are investing in stocks and other schemes with fixed returns instead of putting the money in their savings accounts.

Sir John said that in today's business paradigm, just having a strong financial growth was not enough to constitute a truly successful company because shareholders and society were now demanding increased levels of corporate transparency and responsibility.

Concerns such as the environment and the well being of a company's employees are becoming an ever greater necessity, making success in today's holistic world more challenging, he said.

Yang agreed with Sir John, saying that today's companies should learn to respect a broad range of environmental and societal issues rather than stick to profitable business growth only.

The one-day event was supported by Invest Hong Kong and ended with an award presentation, during which CEOs par excellence and talent managers were honoured.