The Role of Business in the 21st Century

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bob an: Corporations exist because society allows us to exist. And we have a responsibility and an obligation, he says. The role of corporations has evolved but i'll give you an example. Tom watson, t e, founder of i b m, in the early fifties, came ut against separate but equal. Just think if more businesses had followed tom watson and i b m and condemned separate but equal, we would have been a more advanced society than we are today.

"Corporations can be a force for good – and they can also be very successful," says Ken Chenault, chair of investment firm General Catalyst and former longtime CEO of American Express. During the past year, Ken has been an outspoken advocate for business leaders to actively engage in societal matters. After George Floyd’s death, he and Merck CEO Ken Frazier launched OneTen, a coalition to create 1 million jobs for Black Americans that now includes major brands from IBM to Nike to Walmart. Chenault has pushed corporate chiefs to use their leverage to protect voting rights, and he's come out with a platform for Responsible Innovation that puts what he calls “social due diligence” alongside financial due diligence. Standing up for what's right, Ken says, fuels long-term success: "The most important thing is the quest for truth, character, and values."

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