After reading Dr. Friedman’s viewpoint of CSR as a mechanism that only individuals can exemplify and how generating profit should be the crux of managerial decisions, I asked myself: would it be possible for social responsibility and profitability to intertwine favourably in today’s contemporary business society?
This article delineates a new initiative by Southwest Airlines to upcycle old, undesired leather seats on their planes into products like footballs or luxury shoes, as opposed to incinerating the waste. Such a project suggests that it is feasible for businesses to operate sustainably in accordance with their ethical objectives, concurrently opening new revenue streams in the process. Ultimately, one ethical stance has allowed Southwest to reap the benefits of niche market access and improved corporate image and public perception from consumers, while altruistically supporting environmental preservation.
Ultimately what can be seen here is a mix between conforming to ethical codes of conduct and capitalizing on that to act in a socially responsible way. Innovation can happen not only through revolutionary product prototypes, but with ethical procedures as well.