The amazing, John Allison, who as chairman and CEO made BB&T Corporation the 10th largest financial institution headquartered in the United States, attributes the success of BB&T to the concept of Principled Leadership, based on an uncompromising commitment to fundamental values.
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The fundamental reason for appeasing the critics of business is that company executives lack the moral argument for defense. As Ayn Rand argues in ‘The Sanction of The Victims,’ most business leaders have accepted the moral code of altruism.
Despite Walgreens being ranked as one of America’s most trusted brands, with a rich history dating back to 1901, 500 stores are slated to shut their doors in 2025 with more closures to come in the years following.
The fundamental principle that we need to recognize to help all workers flourish, ignored by most labor unions and governments alike, is freedom.
Selfishness guides business to trade value for value with all parties – wages for employees’ productivity, products and services for customers’ payment, payment for suppliers’ products, and so on – by mutual consent, for mutual benefit, with no deception or fraud. This is the only way business can maximize long-term profits – and the reason it should be selfish.
Fossil fuel companies should say two things when threatened for expressing pro-fossil-fuel opinions: 1) We have a 1st Amendment right to our opinions on energy and climate, and 2) We are now going to talk a lot more about the benefits, including climate benefits, of our industry.
Students should be reminded that money-making is not an evil endeavor when done ethically and efficiently, and productive pursuits do not need to be tasked with tackling societal ills.
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