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The New Role of Business in Society

In: Handbook of Spirituality and Business

Author

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  • Olivier F Williams

Abstract

What is the role of business in society? This essay argues that we are in the midst of a major paradigm shift in our understanding of the purpose of business and that this new understanding holds much promise for business being a significant force for peace in our world. Examples of what companies are doing and why they are doing it will be provided. What we are seeing is the emergence of a view of the firm as a socially responsible political actor in the global economy and as an institution that can generate not only material wealth but also wealth that nourishes the full range of human needs, or what some call spiritual capital (Williams, 2008).

Suggested Citation

  • Olivier F Williams, 2011. "The New Role of Business in Society," Palgrave Macmillan Books, in: Luk Bouckaert & Laszlo Zsolnai (ed.), Handbook of Spirituality and Business, chapter 42, pages 351-358, Palgrave Macmillan.
    • Handle: RePEc:pal:palchp:978-0-230-32145-8_42
    DOI: 10.1057/9780230321458_42
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