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Management article
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Reference no. 83616
Published by: Harvard Business Publishing
Published in: "Harvard Business Review", 1983
Length: 8 pages
Topics: Ethics;

Abstract

Business is an institution to which our society assigns a certain sphere of activity--to secure the social good of economic efficiency. The values that govern the conduct of business must be conditioned by the purpose of the business institution. Business leaders therefore have the responsibility of running their companies in such a way as to realize their most economic performance. That means taking the needs and the concepts of purpose of each of the system''s members into account. It does not mean making profit the primary goal.

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Abstract

Business is an institution to which our society assigns a certain sphere of activity--to secure the social good of economic efficiency. The values that govern the conduct of business must be conditioned by the purpose of the business institution. Business leaders therefore have the responsibility of running their companies in such a way as to realize their most economic performance. That means taking the needs and the concepts of purpose of each of the system''s members into account. It does not mean making profit the primary goal.

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