Excerpted from Indy Johar:
“Fundamentally, a “Not for Profit” entity in itself, does not automatically ensure a gold standard of ethical corporate behaviour as much as a “For Profit” does not automatically presume a deal with the devil.
The issue is, in many cases NOT about the precise legal form, be it “for profit” or “not for profit” as these are merely out of date proxies?—?but how equitable and efficient is the allocation of capital, how open & transparent is their governance and management, how ethical and equitable is their recruitment, payee and procurement.
The labelling of the morality of a corporate is increasingly more complex than the simplistic “For Profit/Not for Profit” tabloid debate and we are need to move beyond this industrial simplicity.
And perhaps, also we need to take this moment to not privilege a singular moral view but instead embrace a radical systemic corporate Openness.
For openness, allow us all as outsiders to hold and make our own personal moral judgement based upon our comprehension and context but also more importantly it also invisibly but tangibly induces an uplift in the quality of a companies’ corporate governance and ethical practices?—?the real prize for a sustainable tomorrow…
So perhaps in order to have a socially equitable & democratically rich future?—?The Future has to be Open… “