“Yes, elim­i­nat­ing reg­u­la­tion can help com­pa­nies to in­crease their profits. But at what cost?”

Financial Mirror (Cyprus) - - FRONT PAGE -

Oath, which obliges them to do no harm and to up­hold med­i­cal ethics. But com­pa­nies, too, have an enor­mous ca­pac­ity to do harm, and in­vest­ments in cor­po­rate so­cial re­spon­si­bil­ity ini­tia­tives or com­mu­nity projects do lit­tle or noth­ing to mit­i­gate that harm or off­set eth­i­cal breaches. If managers’ busi­ness strate­gies fail to re­flect their com­pa­nies’ so­cial re­spon­si­bil­ity – or, worse, de­pend on ig­nor­ing it – they must be held ac­count­able, just as rogue doc­tors are (or should be).

Lead­ers like Trump, who value pro­tect­ing cor­po­rate in­ter­ests above nearly all else, may be en­cour­ag­ing com­pa­nies to be­lieve that they have noth­ing to worry about. But they do. As the US opi­oid cri­sis shows, a bot­tom­line men­tal­ity inevitably in­creases the num­ber of peo­ple di­rectly harmed by com­pa­nies’ be­hav­ior. And those peo­ple can no longer af­ford to ig­nore the last­ing dam­age done to their en­vi­ron­ment, com­mu­ni­ties, and fam­i­lies.

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