Is the job of a company director simply to make as much money as possible as quickly as possible for shareholders? Do businesses have obligations to employees, other stakeholders, and society as a whole? And, most pressingly of all, do they have any responsibility for the environment, for social inequality, and to sustain fair competition in a world dominated by mega-corporations?
In this book, Professor Alexander ('Sandy') Pepper considers the controversial subject of corporate purpose. Drawing on ideas from philosophy, economics, law, and management studies, he critically examines competing answers to the question 'What's a Company For?'. To help answer this, Pepper imagines the conversations that might take place if 20th-century economist Milton Friedman, who famously argued for the primacy of shareholders' interests, engaged in dialogue with Socrates. The Athenian philosopher proves a playful and provocative interlocutor for questions of how a company operates ethically when faced with 21st-century questions of responsibility towards people, society, and the planet.
Ultimately, through academic argument and creative philosophical dialogues, Pepper makes the case for responsible business. Building on Alasdair MacIntyre's virtue ethics, he argues that a company's purpose encompasses not just profit, but prosperity for all those who contribute to its work, particularly employees. It also has moral obligations to society in general.
This book is a concise, witty, and engaging exploration of these knotty debates, and an essential read for students, researchers and even company directors looking to understand the bigger picture.