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Combine business strategy with social responsibility

patrick hughes

How can you ‘do good’ and maintain a successful and sustainable company? A recent survey by Fortune revealed that 44% of chief executives thought tackling big social problems should be integral to their overall strategy, writes Ken Favaro for Strategy+Business. 

It’s an opinion that appears to oppose the view of Nobel-Laureate economist Milton Friedman, who in the early 1960s said that every business’s sole social responsibility was to grow its profits. 

Favaro unpicks these two, apparently contrasting, views to stress the strong link between the necessity to be successful and the ability to ‘do good’ for your community or the wider world. 

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