Question

What, in your view, is the purpose of business? What is the moral responsibility of business managers? Defend your answer.

Answer 1

I think the purpose of business is to create value in a profitable way to benefit all stakeholders. Therefore, according to my business is a system of creating sustainable value that creates a win-win situation for all stakeholders including employees, investors, the larger society, suppliers, business partners, etc. A business can't sustain without creating value for its stakeholders.

I think the moral responsibility of managers is to optimize usages of resources in order to fulfill the goals of the business. The managers are assigned to 'do things right'. The primary roles of managers are to use resources in a way that a business can fulfill its objectives, which is to create sustainable value for all stakeholders. Business managers are morally responsible to all stakeholders.