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They are not required by law to be amorral profit machines. Directors have to take into consideration company image and general well being in making decisions.
by Marazan 11y ago
They are not required by law to be amorral profit machines. Directors have to take into consideration company image and general well being in making decisions. They don't have to take into consideration profit.
- TeMPOraL 11y agoThey are not required by law per se, but this is what evolutionary pressures (i.e. competition) demand of them. We won't have companies acting morally until we start expecting it from them - seriously enough that it starts to affect the profit calculation.
- InclinedPlane 11y agoThis is a well-worn sentiment, but I think it is at best only partially true. A substantial aspect to the way modern businesses run has little to do with sheer, naked profit seeking and much to do with culture. Specifically a culture of class distinctions, power, and "winning". There are countless instances of corporations doing dumb things that hurt their bottom line but are done anyway because it aligns with the culture and values system of those making the decisions.
- Marazan 11y agoWhilst people continue to state the falsehood that corporations must legally pursue profit ahead of al other considerations I will continue to correct them. It is a common falsehood that is used to both justify outrageous corporation behaviour and to belittle those who criticise company actions as being ignorant of the law.