Enlightened Self-Interest and Globalizing India Through Social Entrepreneurship

Nisha Ashish Pandey
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Nisha Ashish Pandey: Business School, VESIM, Mumbai, India

International Journal of Social Ecology and Sustainable Development (IJSESD), 2022, vol. 13, issue 1, 1-19

Abstract: Economists believe that companies exist solely to generate maximum profits for shareholders using all legal and ethical means. However, philosophers and various theories of Ethics talks about that companies have a responsibility to other stakeholders, including their employees, suppliers, customers, and the communities within which they operate. Enlightened self-interest recognizes that a company's prime purpose is to not only making profits, but also this goal can be achieved by fulfilling its social and environmental responsibilities. Collective consciousness view considers the intersubjective realm to understand the enlightened self-interest to maximize the welfare of society. Companies use charitable donations to influence public opinion in their favour and long term wellbeing of society. Social Entrepreneurship promotes both wellbeing of society and creative solution for long-term growth and can earn a profit with goodness.

Date: 2022
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