Humanistic Management: Social Entrepreneurship and Mindfulness, Volume II

CHAPTER 1

Social Entrepreneurship as a Form of Humanistic Management

Michael Pirson

Witnessing the various global crises, Milton Friedman’s catchphrase that “the business of business is business,” has outlasted its usefulness. ­Humanistic Management viewed as the form of organizing that protects human dignity and promotes well-being can help address the many crises we suggest. As Michael Porter reformulates, “the business of business is a better society.” By flipping that perspective, Porter suggests that ­managers serve business better when their products and services are fundamentally aimed to promote societal benefits. In that fashion business can retain social legitimacy and make better profits for a longer time horizon. In a much publicized ...