Voluntary exchange for mutual benefit creates the ethical foundation of business, and that is why business is ultimately justified to rightfully exist within a society. But what is its purpose? The cofounder of the medical devices company Medtronic, Earl Bakken, has long been a tireless evangelist for the company’s reason for existing: “The story of Medtronic is one of men and women who have dedicated their lives and careers to helping real people overcome pain and disability to lead more normal, happy lives. It’s a story I never tire of hearing or telling.” Bill George was CEO of Medtronic ...
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