S1E2 - Firm's Awakening: From Profit to Purpose
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S1E2 - Firm's Awakening: From Profit to Purpose
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About this listen
This episode delves into the "Theory of Corporate Responsibility," exploring the evolution of why firms exist, from classic economic principles to modern complexities. We trace how the understanding of a firm's purpose has shifted from simple profit maximization to encompassing shareholder welfare and broader societal and environmental impacts, especially in the "Anthropocene" era. Leading to the critical question: What defines corporate responsibility today? The episode unpacks concepts like the "twilight zone" of obligations and the practical challenges of defining a company's accountability in addressing issues like climate change.
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