A ‘modern’ standard of corporate responsibility

BENITO TEEHANKEE

In 2005, Managing for Society was launched with a column titled “What is business for?” In that column I argued that “business managers shouldn’t work for equity owners alone – they also have a duty to work for the good of employees, suppliers, customers, lenders, their host communities, and society as a whole.” I was not making a novel argument. The Philippine Constitution mandated that businesses contribute to the common good.