One of the biggest challenges business faces is the development of a philosophy that incorporates basic values, a lawyer and Government Senator said on Friday.

Minister of Legislative Affairs and Women's Issues Sen. Lynda Milligan-Whyte told a conference of women business executives that business leaders have a responsibility to go beyond the "bottom line'' and work toward the "betterment of the human condition, not only the creation of wealth''.

"We as corporate leaders often feel that social and political problems are not part of our mandate. (But world business leaders) "must accept the responsibility of helping to build a better global order,'' she told the seventh annual Organisation of Women in International Trade (OWIT) conference at the Sonesta Beach Resort.

Sen. Milligan-Whyte, also senior partner at the law firm of Milligan-Whyte & Smith, said society possesses sufficient economic, cultural and spiritual resources to introduce a better global order through a global ethic, Sen.

Milligan-Whyte said.

She cited the United Nations, which in 1993 was presented with a declaration toward a global ethic by the council of the parliament of the world religions, as the organisation which has taken a leadership role.

The global ethic is intended to identify fundamental principles, like humane treatment of others, commitment to tolerance and truthfulness, equal rights between men and women, as guidelines.

"By a global ethic, we do not mean a global ideology or a single unified religion and certainly not the domination of one religion over all others. By a global ethic we mean a fundamental consensus on binding values, irrevocable standards and personal attitudes.'' On Bermuda, she said: "I do believe that one of the fundamental reasons for our success as a jurisdiction rests largely in Bermuda's commitment to integrity.

"Bermuda, when compared to other jurisdictions, is often referred to by international bankers, law and accounting firms as a quality jurisdiction where international business can operate globally in an environment which has as its highest value integrity.'' The Bermuda OWIT chapter, the organisation's 20th, was set up two years ago.

Over 100 business participants, as well as about 50 speakers, attended the three day conference.

OWIT was formed in the US to enhance the status and interests of women in international business and encourage exchanges of views on foreign commerce.

It also promotes professional growth, education and leadership among women employed worldwide.

Lynda Milligan-Whyte BUSINESS BUC