Article | Economic Times | December 4, 2012

Business Leaders Are More Than Profiteers, as They Deliver Growth in an Efficient, Fair Manner

by Karthik Ramanna

Abstract

The legitimacy of market capitalism rests on its ability to deliver freedom, prosperity, and growth in a manner that is efficient and fair. The pursuit of profit is a central but not the only element of capitalism. There are many circumstances, such as when lobbying the government for technical regulations or when confronted with opportunities to obtain public licences through corrupt means, when businesspersons may have to suspend the short-term profit motive and assume a more benevolent, stewardship role toward the system and society. It is their capacity and good judgment to identify and act on these circumstances that will transform them from being simply profiteers to true business leaders, and will forestall the heavy-handed political response that might destroy the very system from which so many benefit.

Keywords: Capitalism; leadership; Leadership; India;

Citation:

Ramanna, Karthik. "Business Leaders Are More Than Profiteers, as They Deliver Growth in an Efficient, Fair Manner." Economic Times (December 4, 2012).