Is the only duty of business to make profit?
Side one
Profit is the duty
Businesses serve society best by creating value and profit within the law. Social goals belong to governments.
Adam Smith: Markets and Sympathy · Hayek: Knowledge and Order · Competitive StrategySide two
Business owes society
Companies use public resources and affect communities. They should act as trustees and consider all stakeholders.
Gandhi: Truth and Nonviolence · Verghese Kurien: The Cooperative Way · Start With WhyCommon ground
Both want prosperous, law-abiding businesses.
How to reconcile them
Long-term profit depends on trust, fair dealing and healthy communities, so responsible conduct is often good business.
When each side is right
Use profit arguments for efficiency and innovation. Use stakeholder arguments for externalities and trust.
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