Goa Institute of Management (GIM) recently hosted celebrated American philosopher and business school professor Robert Edward Freeman, particularly known for his work on stakeholder theory and business ethics. Freeman is known widely in business and academic circles for his award-winning book.Sharing his thoughts on a new narrative of business and capitalism emerging, Professor Freeman said that a balance is to be struck between five seeming dichotomies which are Purpose & Profit, Stakeholder & Shareholder, Society & Market, Humanity & Economics and lastly Ethics & Business.
Contrary to common perception he stressed that “a business and ethics are not separate entities and can harmoniously live with one another.”“Business is an institute of hope. If you think you need to critique something, do that by creating something better”, Freeman advised the B-school students . Freeman emphasised on the need to build innovative and ethical business leaders. The integration would take businesses to new heights. He also elucidated that for a business to be efficient and successful, it must have a few elements – a great product, supplier’s trust, environmental awareness and a conducive employee workplace.
The News24 Goa