Business and Markets

The Ultimate Purpose of Business Has Changed

August 26, 2016  • Business and Society Program & Fortune

In this segment three CEOs talk about why leading with purpose has taken on new importance: William Cobb of H&R Block, Roger Ferguson of TIAA; and Lynn Good of Duke Energy.

What is the purpose of business? The answer to that question has changed. For decades, most business leaders would say their corporate mission was to maximize profits for shareholders and owners. That was the primary success metric for businesses across the country. Today, the answer most commonly is that the ultimate purpose of a corporation is to serve society and to make the world a better place.

Read More: The Ultimate Purpose of Business Has Changed, by Fortune