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The “Business Sucks” Story

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  • R. Edward Freeman

    (University of Virginia)

Abstract

The purpose of this essay is to suggest that one of the dominant modes of thought in our society is a profound mistrust and misunderstanding of the role of business. A dominant myth in society is that business occupies the moral low ground, separate from ethics or a moral point of view. This position is characterized as the “business sucks” story, and the essay shows how the enactment of this story underlies business thinking among managers and business theorists. The essay concludes with a suggestion to rethink and reinvent this story along more realistic and more empowering lines. Values based capitalism, or stakeholder capitalism, offers a better way to understand the complex role that business does and should play in modern society.

Suggested Citation

  • R. Edward Freeman, 2018. "The “Business Sucks” Story," Humanistic Management Journal, Springer, vol. 3(1), pages 9-16, July.
    • Handle: RePEc:spr:humman:v:3:y:2018:i:1:d:10.1007_s41463-018-0037-y
    DOI: 10.1007/s41463-018-0037-y
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    References listed on IDEAS

    as
    1. Freeman, R. Edward, 1994. "The Politics of Stakeholder Theory: Some Future Directions1," Business Ethics Quarterly, Cambridge University Press, vol. 4(4), pages 409-421, October.
    2. Harris, Jared D. & Freeman, R. Edward, 2008. "The Impossibility of the Separation Thesis: A Response to Joakim Sandberg," Business Ethics Quarterly, Cambridge University Press, vol. 18(4), pages 541-548, October.
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    Cited by:

    1. Michael Pirson, 2018. "Humanistic Management – Sucks Less and Better for your Health," Humanistic Management Journal, Springer, vol. 3(1), pages 1-7, July.

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