Business and Society Review 122 (1):71-91 (2017)

Authors
Patricia Werhane
DePaul University
Abstract
An ongoing argument often made by business ethicists is that a singular preoccupation on profitability, will lead, in the long run, to disvalue for all the stakeholders and the communities it affects, and often, economic challenges for the company. On the other hand, we argue, a preoccupation with ethics and CSR as the primary aims of a for-profit company, it is, on its own, like a preoccupation with profitability, unsustainable. Indeed, without economic viability, a company will fail. Both of these contentions point to our conclusion that one must take care in changing habits and rethinking business models. We illustrate through case examples, that merely being ethical and socially responsible is insufficient for the long-term well-being of business just as a preoccupation with profits for their own sake also is insufficient. What is realistic, practical, pragmatic, sustainable and profitable for corporations, and what also serves the interests of multiple stakeholders including those in the communities they serve, is a true balance of ethics, CSR, and economic value-added. Expanding on the recent work of Husted and Allen, we call this a strategic global strategy approach.
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DOI 10.1111/basr.12109
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References found in this work BETA

Moral Imagination and Systems Thinking.Patricia H. Werhane - 2002 - Journal of Business Ethics 38 (1-2):33 - 42.
Value Creation Through Social Strategy.Ned Kock, David Allen & Bryan Husted - 2015 - Business and Society 54 (2):147-186.

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Is It Ethical to Use Ethics as Strategy?Bryan W. Husted & David B. Allen - 2000 - Journal of Business Ethics 27 (1-2):21 - 31.
Principles and Practices for Corporate Responsibility.Patricia H. Werhane - 2010 - Business Ethics Quarterly 20 (4):695-701.
Examining Strategy Documents on the Internet.Hanna Lehtimäki, Johanna Kujala & Kathleen Rehbein - 2006 - Proceedings of the International Association for Business and Society 17:261-266.

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