A challenge to every business is its philosophy. In his book, The Rise of Business Ethics, Bernard Mees pointed out what the late professor Richard Eells said, that business, in its sense, has no philosophy. Therefore, there is a need for business people to develop a personal philosophy based on their values and beliefs. Therefore, the challenge is for owners, leaders, and managers to establish their philosophy, stand firm to their principles, and be flexible enough to adapt when needed. Philosophies may come from a range of values, beliefs, and practices that eventually develops into what we know as the organizational or corporate culture. Corporate culture is how an organization deals with its everyday internal and external transactions defining the environment and its personality. In other words, corporate culture is a reflection of the values of the people in the organization.

The typical corporate executive then believed that his pursuit of profit automatically served society's welfare and was imperative for economic efficiency. Additionally, they felt that social responsibility programs were costly and reduced profits. That business should not be held responsible for matters outside of their area of expertise, which is income optimization. I am still optimistic that organizations now view their businesses differently. Hopeful that business philosophies no longer revolve around profit maximization and increasing market share alone.