“the most dangerous technology currently threatening humanity’s future is…a conceptual invention existing only in the human mind – the limited liability corporation.”
Jeremy Lent, THE WEB OF MEANING, 2021, p355
In the State of Michigan, we can create a functioning for-profit corporation in a matter hours. It will have immortality, the rights of a human citizen, protection of the law, a bank account, the means to influence politicians, the ability to hire workers, own property and engage in commerce…and have absolutely no soul. It’s only obligations are to make financial profit for the shareholders (as fast as possible) and not do anything explicitly prohibited by law. It is not constrained by fear of death or jail. If it were a real person it would be diagnosed as a psychopath.
When asked, “How would a founder institutionalize values into a for-profit corporation so that over time it doesn’t do things that are anti-social or anti-environmental?” on August 6, 2023, Open AI Chat GPT 3.5 responded as follows:
“Institutionalizing values into a for-profit corporation to ensure ethical and socially responsible behavior over time requires a deliberate and comprehensive approach. Here are some steps a founder can take to embed values and promote positive practices within a for-profit corporation:
- Mission and Vision Statements: Clearly define the company’s mission and vision, emphasizing its commitment to ethical behavior, social responsibility, and environmental stewardship. These statements should reflect the core values that guide the organization’s actions.
- Core Values and Culture: Develop a set of core values that align with the company’s mission. These values should be integrated into the company’s culture, policies, and practices. Hire and promote employees who share these values and contribute to a positive organizational culture.
- Ethical Leadership: Set an example as a founder or leader by consistently demonstrating ethical behavior and decision-making. Leaders should be role models for employees and stakeholders, showcasing the values the company stands for.
- Code of Conduct and Policies: Create a comprehensive code of conduct that outlines expected behavior for all employees and stakeholders. Establish policies that address key areas such as environmental sustainability, labor practices, diversity and inclusion, and community engagement.
- Stakeholder Engagement: Engage with stakeholders, including employees, customers, suppliers, investors, and the community, to gather input and feedback on the company’s practices and impact. This can help ensure that decisions align with the interests of various stakeholders.
- Environmental and Social Impact Assessment: Regularly assess the company’s environmental and social impact. Implement mechanisms to measure and track key performance indicators related to sustainability, community engagement, and social responsibility.
- Sustainable Business Practices: Integrate sustainable practices into the company’s operations, supply chain, and product/service offerings. This can include reducing waste, conserving resources, and promoting eco-friendly products.
- Transparency and Reporting: Communicate openly and transparently about the company’s practices, initiatives, and progress toward its social and environmental goals. Regularly publish sustainability reports to showcase achievements and areas for improvement.
- Collaboration and Partnerships: Collaborate with like-minded organizations, nonprofits, and industry groups to amplify efforts and share best practices. Partnerships can enhance the company’s impact and contribute to broader positive change.
- Long-Term Commitment: Embedding values into a corporation is a continuous process. Leadership and employees must remain committed to upholding these values even as the company grows and evolves.
- Governance Structure: Consider establishing a governance structure that includes a board of directors or advisory council with expertise in ethical and social responsibility. This structure can provide guidance and oversight.
By taking these steps, a founder can create a strong foundation for a for-profit corporation that upholds ethical values, promotes social responsibility, and contributes positively to both society and the environment over time.”