coorporate sosial responsibilityPosted on: April 15, 2020, by : g3wgj
Corporate Social Responsibility, Business
Ethics, and Economic Freedom
American Hellenic Chamber of Commerce
June 3, 2004
Hilton Hotel, Athens, Greece
First, I would like to thank the American Hellenic Chamber of Commerce for inviting me to participate at this conference. I am honored and pleased to be here.
Today, I would like to talk briefly about moral capitalism, and then touch upon four components
that I believe form its foundation. They are
— Corporate social responsibility, or CSR
— Business Ethics
— Economic Freedom, and
Is moral capitalism possible in the context of a CSR business? I believe that it is possible. Seeking market profit through business is honorable and worthy. Moral capitalism is the most appropriate means by which our modern, global civilization can empower people and enrich their lives materially and spiritually.
The most profitable business combines virtue and interest, as it
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maximizes the present value of future earnings. The first requirement, therefore, of business success is sustainable profits.
So, what exactly is a socially responsible corporation, and what do they need to do? A CSR company needs to sustain profits over time and replenish the capital that they invest in their business and the community. That capital comes in five different forms: