Organizational purpose - Missioning and visioning - The paradox of profitability and responsibility
3 important questions on Organizational purpose - Missioning and visioning - The paradox of profitability and responsibility
Which position take companies in contries with market economy on the role that business should play within society and the duties that they ought to shoulder?
It is generally agreed that campanies should pursue strategies that ensure economic profitablilty, but that they have certain social responsibilities that must be fulfilled as well. This is where the consensus ends. Opinions differ widely with regard to the relative importance of profitability and responsibility.
What is the function of ecomomic profitability?
Profitability is not only a result, but also a source of competitive power. It provides a company with the financial leeway to improve its competitive position and pursue its ambitions.
Under which conditions can trust develop?
Trust evolves where people feel certain that others will behave in a responsible manner, instead of letting their onwn sef-interest prevail without limitations.
Societal responsibility (= acting in the interest of others, een when there is no legal imperative) lies at the basis of trust.
Societal responsibility (= acting in the interest of others, een when there is no legal imperative) lies at the basis of trust.
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