QuoteProject
I think that, too many times, business has been seen as acting in its narrow self-interest rather than, essentially, contributing more broadly to society. I think a lot of that is unintentional; I don't think that many managers are deliberately trying to be unethical or are not trying to be sensitive to social needs.
Michael Porter
ShareWTF𝕏

Interpretation

What this quote means

Business should focus on contributing positively to society rather than just pursuing self-interest.

Michael Porter emphasizes the importance of businesses operating not merely in their own narrow self-interest, but rather as responsible entities that contribute to the broader well-being of society. He acknowledges that many managers may not intentionally act unethically, but their business practices often overlook the social needs around them, highlighting a gap that needs to be addressed for a more ethical and socially responsible corporate environment.

Themes

BusinessSocietyEthicsResponsibilityManagers

In practice

Example use cases

In a business ethics seminar, you might use this quote to illustrate the importance of corporate social responsibility.

More from Michael Porter

If a strategy meets a goal: It's working. If a strategy meets a target: It's a success.
Michael PorterRead
Health care historically has been a very siloed field that's organized around medical specialties - urology, cardiac surgery, and so forth - and around the supply of these specialty services. The patient is the ping-pong ball that moves from service to service.
Michael PorterRead
As a multisport athlete, I was always fascinated with competition and how to win. At HBS and later at the Harvard Department of Economics, I was drawn to the field of competition and strategy because it tackles perhaps the most basic question in both business management and industrial economics: What determines corporate performance?
Michael PorterRead
In a period of economic downturn, the overwhelming instinct is to pare back, cut costs, and lay off. If you do that, do so with your strategy in mind. The worst mistake is to cut across the board. Instead, reconnect and recommit to a clear strategy that will distinguish yourself from others.
Michael PorterRead
If your goal is anything but profitability - if it's to be big, or to grow fast, or to become a technology leader - you'll hit problems.
Michael PorterRead
You can't have a healthy society unless you have healthy companies that are making a profit, that are employing people and that are growing.
Michael PorterRead

Similar quotes

I think that business practices would improve immeasurably if they were guided by "feminine" pinciples, qualities like love, care, and intuition.
Anita RoddickRead
What makes us so often discontented with those who transact business for us is that they almost always abandon the interest of their friends for the interest of the business, because they wish to have the honor of succeeding in that which they have undertaken.
Francois De La RochefoucauldRead
Too many companies are running their business into the ground, I would argue, by being myopically short-term focused on the shareholder.
Paul PolmanRead
On the simplest level, telecommuting makes it harder for people to have the kinds of informal interactions that are crucial to the way knowledge moves through an organization. The role that hallway chat plays in driving new ideas has become a cliche of business writing, but that doesn't make it less true.
James SurowieckiRead
One customer well taken care of could be more valuable than $10,000 worth of advertising.
Jim RohnRead
People are the core of every business. Businesses are based on relationships, and relationships are based on people. I would go to an average restaurant run by amazing people over an outstanding restaurant run by awful people.
Marcus LemonisRead

A little wisdom, now and then

Subscribe for the occasional hand-picked quote. No noise.