Rather than write two posts today, I’d like to point you to my article at Businessweek.com on Michael Porter, competitive theory and business legitimacy. Or rather, on how business can regain its legitimacy, which is at generational lows.
The issue of business legitimacy was raised in Businessweek.com by my old (and very distinguished) professor Michael Porter, who suggested that legitimacy has to be regained not through charity but by having part of businesses core purpose be to do good. I think this is correct, as far as it goes, but I suggest taking a long term perspective may be more successful than his way.
Click on over to BusinessWeek.com and read today’s post there. Let me know what you think, because it’s about more than just legitimacy, it’s about how and why we run our businesses.