I do not agree with this statement, particularly with the first part of it.
Businesses are not run for the benefit of society. They are run to make money for those who own them. This may be good for society, but it is not an altruistic goal. Competent executives manage people and resources to make money.
As far as the value of money and titles, this is partly true. However, both money and titles tend to be very important to people. People tend to see their salary and their title as an indicator of how much their firm values them. They are not likely to be content to do the best job they possibly can and simply take what money they are given. Instead, they are very likely to want as much money as they can possibly get.
Overall, then, this statement is too idealistic and not realistic enough.