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Full Length Research Paper
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Reconciling
profit and social development in Osigwe Anyiam-Osigwe’s
business ethics
Adebola B. Ekanola
Department of Philosophy, University of Ibadan, Ibadan,
Nigeria. E-mail:
debekanl@yahoo.com.
Accepted 11 May, 2010 |
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Abstract |
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The idea of corporate social responsibility (CSR) emerged to
reconcile the apparent tension between the primary objective of
business industry which is profit maximization and the essential
goal of the economic system, of which corporations is a
component, which includes sustainable economic growth and
sustainable social development, interpreted as the enhancement
of the wellbeing of members of society. This paper examines how
the tension described above can be reconciled from the
perspective of an African sage philosopher, Osigwe
Anyiam-Osigwe. The paper argues in line with Anyiam-Osigwe’s
cosmopolitan ideal that business corporations, as a key player
in the economic sector, should transcend the “subjective or
personal” and “limited vision and perception” of profit
maximization as their ultimate objective and mediate their
activities with an adequate consideration for the growth of the
economic sector and sustainable social development.
Key words:
Business, global economic order, Osigwe Anyiam-Osigwe, profit,
social development, social responsibility. |
