What Porter doesn't address is how markets tend to favor short-term gains over long-term solutions. Yes, it is true that businesses can do well by their shareholders if they offer long term solutions, but that's entirely dependent upon shareholders sticking with that business over other more profitable ventures in the short-term.
OMG it's soo simple. Translation: what Porter says all the time is: "everything is about money", what Sandel says: "not everything is about money" period
I. I totally agree with Michael Porter! Market can help solve social problem. And as an expert in Business strategy Porter is helping all particularly corporates change their perception (Perception is everything in Business Strategy) about Social Issues. II. I was happy and thankful about his work on Social Progress Index and the contribution to improve US Healthcare System. We all continue to work hard in order to build an INCLUSIVE AMERICA.
Since there's a lot you can do with money these days, we are more likely to be dominated by money even though ironically we are the ones who designed the system of economy as a tool to improve the quality of life. I completely get what professor Michael Sandel is worrying about and I am definitely on board with him.
Agreed, and I think a lot of that comes from the finance sector. Shares are bought and sold at rapid paces, and long-term goals in terms of shareholders is at best an annual basis, but often moreso a quarterly basis. Shares decreasing even a marginal amount is often considered unacceptable even if its in the longterm viability of the company. If forgoing short-erm profits, a less ethical business is likely to come in and steal business for less cost and putting the ethical business in default.
III. It's relevant that all understand as well the contradiction that is associated with the Market-based Economy. IV. ECONOMIC UPGRADING that is the fruit of the capitalisation of the Capitalism is always associated positively speaking with the SOCIAL DOWNGRADING. Therefore, what really matters is to HAVE AN ECONOMIC UPGRADING THAT GROWS FASTER THAN THE SOCIAL DOWNGRADING in order to eradicate it (social downgrading) over time. That's currently the main challenge that the world is facing. In fact, since the acceleration of the globalization since the 80s, most of the countries and regions of the world are caught in a GLOBALIZATION TRAP. As a result, except Europe (particularly the Western Europe) that is the less unequal region of the world, all the regions of the world are now part of the most unequal regions of the World. V. China that is caught into a Middle-income trap is the most unequal country of the world. VI. US that is caught into a High-income trap is one of the most unequal nation of the world due to increase income and wealth inequalities. VII. Latin America is the most unequal region of the world. Russia and Central Asia, South and South-East Asia, MENA and Sub-saharan Africa are all part of the club of most unequal region of the world.
Michael is right.
scienceisknolwedge No! I disagree with Michael.
What Porter doesn't address is how markets tend to favor short-term gains over long-term solutions. Yes, it is true that businesses can do well by their shareholders if they offer long term solutions, but that's entirely dependent upon shareholders sticking with that business over other more profitable ventures in the short-term.
OMG it's soo simple. Translation: what Porter says all the time is: "everything is about money", what Sandel says: "not everything is about money" period
I. I totally agree with Michael Porter! Market can help solve social problem. And as an expert in Business strategy Porter is helping all particularly corporates change their perception (Perception is everything in Business Strategy) about Social Issues. II. I was happy and thankful about his work on Social Progress Index and the contribution to improve US Healthcare System. We all continue to work hard in order to build an INCLUSIVE AMERICA.
I agree with Michael. Don't know which one though!
Since there's a lot you can do with money these days, we are more likely to be dominated by money even though ironically we are the ones who designed the system of economy as a tool to improve the quality of life. I completely get what professor Michael Sandel is worrying about and I am definitely on board with him.
suga ka By trying to improve our life's quality... Are we just going to end up becoming slaves to life quality?
Agreed, and I think a lot of that comes from the finance sector. Shares are bought and sold at rapid paces, and long-term goals in terms of shareholders is at best an annual basis, but often moreso a quarterly basis. Shares decreasing even a marginal amount is often considered unacceptable even if its in the longterm viability of the company. If forgoing short-erm profits, a less ethical business is likely to come in and steal business for less cost and putting the ethical business in default.
III. It's relevant that all understand as well the contradiction that is associated with the Market-based Economy. IV. ECONOMIC UPGRADING that is the fruit of the capitalisation of the Capitalism is always associated positively speaking with the SOCIAL DOWNGRADING. Therefore, what really matters is to HAVE AN ECONOMIC UPGRADING THAT GROWS FASTER THAN THE SOCIAL DOWNGRADING in order to eradicate it (social downgrading) over time. That's currently the main challenge that the world is facing. In fact, since the acceleration of the globalization since the 80s, most of the countries and regions of the world are caught in a GLOBALIZATION TRAP. As a result, except Europe (particularly the Western Europe) that is the less unequal region of the world, all the regions of the world are now part of the most unequal regions of the World. V. China that is caught into a Middle-income trap is the most unequal country of the world. VI. US that is caught into a High-income trap is one of the most unequal nation of the world due to increase income and wealth inequalities. VII. Latin America is the most unequal region of the world. Russia and Central Asia, South and South-East Asia, MENA and Sub-saharan Africa are all part of the club of most unequal region of the world.
The only aim of markets is profit!
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