The only responsibility of corporate executives, provided they stay within the law, is to make as much money as possible for their companies.
Should the only responsibility of a business executive be to maximize business profits, within the bounds of the law? In several respects this position has considerable merit; yet it ignores certain compelling arguments for imposing on businesses additional obligations to the society in which they operate.
On the one hand are two convincing arguments that profit maximization within the bounds of the law should be a business executives sole responsibility. First, imposing on businesses additional duties to the society in which they operate can, paradoxically, harm that society. Compliance with higher ethical standards than the law requires--m such areas as environmental impact and workplace conditions--adds to business expenses and lowers immediate profits. In turn, lower profits can prevent the socially conscious business from creating more jobs, and from keeping its prices low and the quality of its products and services high. Thus if businesses go further than their legal duties in serving their communities the end result might be a net disservice to those communities.
Secondly, by affirming that profit maximization within legal bounds is the most ethical behavior possible for business, we encourage private enterprise, and more individuals enter the marketplace in the quest of profits. The inevitable result of increased competition is lower prices and better products, both of which serve the interests of consumers. Moreover, since maximizing profits enhances the wealth of a companys stakeholders, broad participation in private enterprise raises the wealth of a nation, expands its economy, and raises its overall standard of living and quality of life.
On the other hand are three compelling arguments for holding business executives to certain responsibilities m addition to profit maximization and to compliance with the letter of the law. First, a growing percentage of businesses are related to technology, and haws often lag behind advances in technology. As a result, new technology-based products and services might pose potential harm to consumers even though they conform to current laws. For example, Internet commerce is still largely unregulated because our lawmakers are slow to react to the paradigm shift from brick-and-mortar commerce to e-commerce. As a result, unethical marketing practices, privacy invasion, and violations of intellectual-property rights are going unchecked for lack of regulations that would clearly prohibit them.
Secondly, since a nations laws do not extend beyond its borders, compliance with those laws does not prevent a business from doing harm elsewhere. Consider, for example, the trend among U.S. businesses in exploiting workers in countries where labor laws are virtually non-existent in order to avoid the costs of complying with U.S. labor laws.
Thirdly, a philosophical argument can be made that every business enters into an implied social contract with the community that permits it to do business, and that this social contract, although not legally enforceable, places a moral duty on the business to refrain from acting in ways that will harm that community.
In sum, I agree with the statement insofar as in seeking to maximize profits a business serves not only itself but also its employees, customers, and the overall economy. Yet todays rapidly changing business environment and increasing globalization call for certain affirmative obligations beyond the pursuit of profit and mere compliance with enforceable rules and regulations. Moreover, in the final analysis any business is indebted to the society in which it operates for its very existence, and thus has a moral duty, regardless of any legal obligations, to pay that debt.
国内英语资讯:Shandong, Xinjiang lower coronavirus emergency response
又萌又皮的奶奶 请给我来一打
体坛英语资讯:Juve knock out Roma 3-1 to reach Coppa Italia semis
国际英语资讯:Roundup: Sudanese political forces condemn assassination attempt on PM
体坛英语资讯:Roundup: Wang stuns Williams, Osaka out on day 5 of Australian Open
国内英语资讯:Xi Focus: Xi extends solicitude to females fighting epidemic on Intl Womens Day
国际英语资讯:Coronavirus cases rise in Europe as WHO says figure outside China hit 20,000
国内英语资讯:Death toll rises to 13 after hotel collapses in east China
国际英语资讯:News Analysis: Italian economy suffering multiple blows as coronavirus outbreak grows
国内英语资讯:China regulates online study amid epidemic
国内英语资讯:Chinese, British FMs hold phone talks over COVID-19
英国禁止向18岁以下的未成年人出售电子烟
人死后,假肢都去哪了?
国内英语资讯:China issues contingency plan against locust threat
体坛英语资讯:Wuhan virus sees Olympic football qualifiers moved
国内英语资讯:Vice premier stresses community-level epidemic prevention, control
中国商家推出“无接触”销售 降低疫情影响
美前总统吉米·卡特认为自己受到监控
爸爸给了我一千美元
博文言过其实的危害
国际英语资讯:Indian PM holds review meeting on COVID-19 situation with 3 new cases reported
国际英语资讯:New York governor declares state of emergency as COVID-19 cases soar to 76 statewide
运营商要为疫情防控期间宽带网络教学提供资费优惠
国内英语资讯:China to donate 20 mln USD supporting WHOs global fight against coronavirus
体坛英语资讯:FA Cup fourth round offers the chance for glory and disaster
11月再见!007新片受疫情影响将推迟上映
Lucky Money 红包
国际英语资讯:U.S. lawmakers self-quarantine after exposure to COVID-19 patients
体坛英语资讯:Strong winds batter Australian Open as big names breeze through
国际英语资讯:Feature: Overseas Chinese donate medical supplies to coronavirus-affected German town