ABSTRACT
Historically the relationship between business and society has been contested. This chapter explores the nature of that relationship from three perspectives. The ethical perspective will provide a review of a range of philosophical ideas related to what the normative relationship between entrepreneurship and society ought to be. Considering what have been the dominant impacts of organizations on society, the empirical perspective demonstrates both negative and positive effects. From a prudential (or pragmatist) perspective, the focus is on how leaders exercise judgement in pursuing policies with the practical objective of minimizing the harmful effects of business organizations on society and maximizing the positive benefits. This third domain analysis of positive possibilities forms the primary focus of this chapter as we consider a range of practical business models emphasizing social benefits over a narrow emphasis on profit maximization.
