Quote:
Originally Posted by murraypaul
Companies frequently take a deliberate decision to hold themselves to a higher standard than required by law, even though that means they incur more cost.
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I agree with this.
As an individual, if I treated those around me as poorly as legally allowed, I wouldn't be much of a person. As for government laying out and enforcing all the rules for moral behavior amoug individuals, this would be utterly impractical. Isn't the same true for corporations?
Re mention in this thread of responsibility to shareholders, see:
Down with Shareholder Value
Quote:
“Look at almost any company that has lasted,” he continued. “It is inevitably because executives see themselves as trying to move the organization forward, and not because they are incented by their pay package to maximize the share price.”
Lorsch, for his part, says that he believes that “the function of business in a society is not just a return to investors, but to provide goods and services, provide employment, pay taxes, and so on.”
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Emphasis added.