Sat. Jan 28th, 2023

Dr. Kennedy K. Amofa

Dr. Kennedy K. Amofa

For the past century, we have faced numerous challenges such as geopolitical conflicts, war, famine, climate crises, global financial market turmoil, epidemics and natural disasters, to mention just a few. With all these environmental uncertainties, most businesses — including for-profit and nonprofit — thrive on overcoming all these problems to create value in the global market. The emergence of social enterprise initiatives will provide unique opportunities to resolve the numerous social problems affecting life expectations worldwide.

It is noteworthy that Adam Smith’s publishing of The Wealth of Nations in 1776 marked the birth of modern capitalism and the economics of the free market to help allocate resources automatically toward the most valued ends. The philosophy of conscious capitalism is to create value for all stakeholders, which could be seen as wealth creation to improve social life by lifting people out of poverty and starvation. However, it is fair to say that global businesses cannot solve all the ever-increasing world problems.



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