Can You Do Well While Doing Good?

​Tonight The Hesburgh Lecture Series hosted Fr. Oliver F. Williams, CSC, Director of the Notre Dame Center for Ethics and Religious Values in Business in the Mendoza College of Business. He discussed, "Can You Do Well While Doing Good?"  
As shared in the event post, many believe that business ethics is an oxymoron. Following the spirit of the famous line, “an ambassador is an honest man lying abroad for the good of his country,”some business leaders conduct their operations as if the bottom line is the only concern. Is it possible to do well while doing good? Fr. Oliver Williams discussed many examples such as 3M, Sumitomo, and Novartis, and how it's possible for a business manager to exhibit superior performance in business and yet be a model of virtue and ethical values.  It was a great night of networking and an engaging talk. Here are some wisdom points shared to help educate and enlighten you:

• Business is a noble vocation. Corporations can make the world a better place and should through creativity, innovation, good works etc The real power in the world is in business so if you want to change the world to make things better than doing so through business is a powerful vehicle to accomplish big change.
• What is the purpose of business? To make money? Or broader understanding, to create sustainable value for people (stakeholders). Doctor, purpose is to heal patients. Lawyer, purpose is to seek justice, professor purpose is to enlighten minds via teaching students, but they all have to make money to be there to work again, provide for themselves, and serve again, but their aim in work is bigger than money generation.
• Consider the three level view of work. First level, work is just work to make money and pay bills. 2nd level moves work from just a job to a significant career to that provides in more meaningful ways. 3rd stage, work is a special vocation. A calling to a greater good and serving a greater purpose. Doing what you love and called to do to best serve others with your talents.
• Look into the Global Compact of United Nations. A good model per set of agreed upon principles that companies operate under with sound ethics and practices to ensure doing good globally. Companies have to follow 10 Principles around human rights, environmental respect, safe labor, anti-corruption, etc. All the companies agree to follow these principles and report on them yearly per doing no harm in business. Think of the triple bottom line (Economic, Social, and Environmental. Planet, People,and Profits)
• Think of "Peace Through Business". Generate products which are useful to customers and result in economic value creation. Act responsible, respect the law but also fulfill legitimate expectations that society has of company and leaders.
• You must aspire toward grand ideals and show how you aim to hit good ideals with your work, products, and services.
• Doing well in business means creating sustainable value for your stakeholders to serve and make money for all parties involved, but doing good in your business means really doing noble things to care for the least advantaged and all involved in unselfish aways above and beyond your enterprise profit aims. Do the right thing.

About The Hesburgh Lecture Series: Inspired by the late Father Hesburgh’s example of lifelong learning, the Hesburgh Lecture Series has brought University faculty to Notre Dame clubs and their local communities since 1986. The lectures, presented by mostly tenured faculty, showcase the depth and breadth of Notre Dame’s academic expertise in research and teaching.

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