Today, business is about more than just profit

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by Lara Ryan

Is the point of business simply to make profits? Ed Freeman argues that this traditional idea is outdated. Not only that, but in a rapidly changing global economy, it’s unsustainable. Smart companies today are coming to understand that they have responsibilities to many stakeholders, not just to investors and customers.

A professor of business ethics at the Darden School of Business at the University of Virginia, Freeman has written extensively on ethics, environmental management, and strategic management.

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Major changes in society, he believes, are making business more complex and uncertain. These changes include the liberalization of markets, the liberalization of political institutions, the emergence of environmentalism and other social values, and the explosion of information technology, especially social media. The relationship between businesses and their customers, suppliers, employees, investors, and communities are all being profoundly affected.

Governments, consumer advocates, competitors, environmentalists, special-interest groups, and the media are also affecting business more directly than before. The best possible outcome is authentic stakeholder engagement and a shift in managing in a way that creates value for all stakeholders, not just the shareholders who are the focus of the current western management model.

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Critics and those who manage only for shareholders will say that it’s impossible to manage for all stakeholders and create value equally among them. More and more thinkers argue that although stakeholders may from time to time appear to have conflicting needs, a model of ethical leadership and values-based management is required for the long-term success of any business.

http://progressmedia.ca/article/2008/09/ma...ot-shareholders

[fozzie 41]

The most unethical students, ie those that cheat and plagarise the most, are MBA students. I think that says everything.

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The most unethical students, ie those that cheat and plagarise the most, are MBA students. I think that says everything.

What is the source for your claim that MBA students are the most unethical?

And secondly, what is "everything"? If the claim were true, what does that say? Spell it out for us.