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Business ethics has become a big business in its own right. It has gone from a fringe issue that some alternative CEOs might mention in passing, to a business staple that has its own course in ninety percent of business schools in America. Large companies now link ethical initiatives to their bottom line reporting and there are even research centers dedicated to studying how businesses can solve all of the world's problems using a combination of acronyms. DEI, CSR, ESG, TBL… whatever your preference, these are all guidelines for how the world's most powerful companies can pursue something other than their own free cash flow…
So why is this the second worst idea in business history? Corporate social responsibility or ethical business, whatever you want to call it, it should be an easy idea to sell. You probably don't like it when companies pollute your home, take your money through deceptive practices, or pressure your government to spend your tax money on their bailout. But operating ethically in business often comes at the expense of operating profitably, and business leaders who answer exclusively to their shareholders will be forced to prioritize profits over ethics. Corporate social responsibility is therefore, above all, about showing business leaders, their boards of directors and their shareholders that there is a way for everyone to win and that ethics and profit should not necessarily be in contradiction. It’s a message that’s getting traction.
It's understandable that investors want their money directed toward companies that are (at least) TRYING to do the right thing, but unfortunately, few people really understand how these investments work, or how they might actually make these investments worse. problems. .
So it's time to learn how money works and discover why business ethics is the second worst idea in business history.
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