Free enterprise cannot be justified as being good for business. It can be justified only as being good for society. The Practice of Management (1954)
About this quote
- What does it mean?
- Free enterprise is justified by its benefit to society, not by its benefit to business.
- In plain terms
- Free enterprise exists to serve society, not just to make businesses money.
- What can you take from it?
- Justify business systems by societal value, not just profit.
Where it applies
Putting it to work
Questions to consider
- How do we measure 'good for society'?
- Can profit and social good align?
Another view
Businesses often prioritize profit over social good.
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