MICHAEL LEE-CHIN FAMILY INSTITUTE for Corporate Citizenship


MICHAEL LEE-CHIN FAMILY INSTITUTE FOR CORPORATE CITIZENSHIP

Creating a Definition Project for Business Leadership

AIC Definition Detailed View

Definition	Business is and must remain fundamentally an economic institution, but...it does have responsibilities to help society achieve its basic goals...the larger a company becomes, the greater are these responsibilities, but all companies can assume some share of them at no cost and often at a short-run as well as a long-run profit. The assumption of social responsibilities is more of an attitude, of the way a manager approaches his decision-making task, than a great shift in the economic of decision making. It is a philosophy that looks at the social interest and the enlightened self-interest of business over the long run as compared with the old, narrow, unrestrained short-run self-interest.
Author 1	George Steiner
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Reference Journal
Reference Publisher	Random House
Reference Year	1971
Approval Status	YES