Bonjour, social profit orientation

Economists at Texas A&M write that Milton Friedman’s view that maximizing profit is the sole goal of business is outdated. In lieu of this, “companies and nonprofits can prosper when they embody what we’re calling a social profit orientation by making sustainable, social and environmental impact central to their missions.” Social profit orientation holds that “financial profits and benefits for the common good are equally prized. ” Social profit orientation also helps “companies and nonprofits future-proof themselves against evolving market dynamics and social changes.”

Texas A&M Today | ‘Social Profit Orientation’ Can Help Companies And Nonprofits Alike Do More Good In The World

The Conversation | ‘Social profit orientation’ can help companies and nonprofits alike do more good in the world