A seventeen year-old This young whipper snapper, described in an article in today’s Dominion Post as a business executive, gave a “blistering attack on modern business ethics” in his presentation to 400 of the nation’s “business elite.”
The Dominion quoted from Alex Mackenzie’s speech: “…we live in a world where efficiency and profit are elevated above ethics and morals. Often it is both the political and business leaders of the world who are encouraging this. I am a young 17-year old in this ever increasing corrupt world. If the only people I have to look up to are going to encourage me to sacrifice my soul for money, what hope do we have for the future of the world? …the laureates inducted that night into the Hall of Fame achieved success by concentrating on doing what was right for their customers and on philanthropy – not simply chasing profits”.
These words of wisdom were greeted with the loudest applause of the night!
There is an increasing socialist idealism that is creeping into business culture that is championing the concept of corporate social responsibility. This deserves to be challenged. Our schools seem to be aiding this fashionable trend of promoting triple bottom line accounting where social and environmental responsibility is promoted above financial bottom line objectives.
Alarmingly, Alex Mackenzie, is part of the Young Enterprise Scheme, that encourages our youth to learn and experience running a business. I guess Alex’s business principals reflect the culture that is prevalent in our education system.
It seems that political correctness has taken precedence over core business principals. The first duty of a business is to its shareholders and employees is to make a profit. The old-fashioned, one-dimensional financial bottom line must always take precedence. The failure to do so has its own serious social consequences.
Business is the wealth-creating institution of society. Its prime “social” role is to meet consumers' needs in the most efficient manner, and this is how capitalism has raised living standards to the level we enjoy today.
Business should not be seen as a social welfare adjunct; however it is unsettling to discover that pupils like Alex Mackenzie will soon be joining the profit apologists that are establishing themselves in our business community.
