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Fixing Business by Lord Digby Jones

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Chapter 3 Achieving Socially Inclusive Wealth Creation

“Surplus wealth is a sacred trust which its possessor is bound to administer in his lifetime for the good of the community.”

—Andrew Carnegie

Time to Return to Socially Inclusive Wealth Creation

If the reputation of Business is to be restored, then far-reaching changes are vital. As we have seen, getting a fair hearing is important; so too is avoiding the excesses, foolishness and bad behaviour of Business, and creating an environment where Business can thrive and perform at its best. When this happens wealth and employment are created; taxes are paid to fund society's priorities; products and services are developed and delivered which enrich all our lives, and economic security is firmly established.

Even so, that's not enough.

It is not enough for investors to flourish while tough, vital decisions are made without any consideration for the people and communities that provide the employees and, in many cases, the customers of the Business. More needs to be done, and it has been done before. The answer is to ensure that wealth creation – Business – is socially inclusive. By that I mean that it is seen to include a wide section of society, treats those people with dignity and respect, is acknowledged as being a force for good because it is seen as taking everyone with it and being there for everyone; it recognises not only that it pays off to include people and share the benefits of Business, it is also, quite simply, ...

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