Notes on Business Ethics by Dr. Oscar G. Bulaong
The False Dichotomy of Making Money vs, Doing Good to Society
Anecdote: A shifty student, form Management to Social Science, once said “I don’t want to sell
my soul to Capitalism.”
Neoliberal Principle
o To maximize only the shareholder wealth
The mindset that “Shareholder primacy is the claim that the only goal of the firm is to maximize
shareholder wealth”
o Leads these detriments the stakeholder’s welfare
Pollution
Worsens the gap between rich and poor
Alienated labour
Resources Depletion
Economic Crisis
Corruption
o The richer get richer and the poor and powerless sinks deeper into poverty
o Geoffrey Sax said “The first order of business is to stop doing harm.”
Can we reconcile: making money and doing good?
o It is in the self interest of the business is doing good
It takes imagination
It requires us to be resourceful and strategic into solving business
problems
It takes a genuine desire to make a positive impact
Without desire, we regress to the unimaginative motive of shareholder
wealth
o Current frameworks to attempt to reconcile doing business:
SDG
Corporate Social Responsibility
Social Enterprises
Etc.
o “The Vocation of the Business Leader” by The Pontifical Council for Justice and Peace
The Three Pillars of a Business that does Good
Every business leader should produce good goods, provide good work,
and manage good wealth
1st Pillar: Good Goods
o Designing and continuously improving the goods and services
that the people benefit from
o Does the decision maker think about the impact of their
business to the people or is it all about market share?
o Example:
A business dives into a market research with the
question: “Can the market tell the difference between a
The False Dichotomy of Making Money vs, Doing Good to Society
Anecdote: A shifty student, form Management to Social Science, once said “I don’t want to sell
my soul to Capitalism.”
Neoliberal Principle
o To maximize only the shareholder wealth
The mindset that “Shareholder primacy is the claim that the only goal of the firm is to maximize
shareholder wealth”
o Leads these detriments the stakeholder’s welfare
Pollution
Worsens the gap between rich and poor
Alienated labour
Resources Depletion
Economic Crisis
Corruption
o The richer get richer and the poor and powerless sinks deeper into poverty
o Geoffrey Sax said “The first order of business is to stop doing harm.”
Can we reconcile: making money and doing good?
o It is in the self interest of the business is doing good
It takes imagination
It requires us to be resourceful and strategic into solving business
problems
It takes a genuine desire to make a positive impact
Without desire, we regress to the unimaginative motive of shareholder
wealth
o Current frameworks to attempt to reconcile doing business:
SDG
Corporate Social Responsibility
Social Enterprises
Etc.
o “The Vocation of the Business Leader” by The Pontifical Council for Justice and Peace
The Three Pillars of a Business that does Good
Every business leader should produce good goods, provide good work,
and manage good wealth
1st Pillar: Good Goods
o Designing and continuously improving the goods and services
that the people benefit from
o Does the decision maker think about the impact of their
business to the people or is it all about market share?
o Example:
A business dives into a market research with the
question: “Can the market tell the difference between a
