The war in Ukraine has resulted in many of the world’s biggest companies deciding to stop doing business with Russia. McDonald’s, IKEA, Apple are just some of the well known corporations making a stand.
But why have they done this? After all, a famous rule of economics states that the social responsibility of business is to “increase its profits”. Surely by closing themselves off from such a large country, these companies will take a financial hit?
Perhaps then, the social role of business has changed, and the professional duty to maximise shareholders’ interests and keep businesses growing is no longer all encompassing. After all, the leaders of these large organisations are also citizens of the world; moral beings who want to do the right thing. And employees who feel anguish over the images coming from Ukraine will also expect their bosses to respond appropriately.
