Dr. Ernest Cadotte | Source | Founder & CEO at Marketplace Simulations

The pressure is growing for businesses to offset the harm they do and to make a positive impact instead. But none of this pressure has been inspired by the Friedman Doctrine. Perhaps there is room for a revised Friedman Doctrine: The purpose of business is to maximize shareholder wealth—provided the business has paid its full share of the costs incurred, pursued stakeholder opportunities that yield mutual gain, and taken the initiative to be a force for good in society. Or perhaps there is no need for the Friedman Doctrine at all. For certain, it is time for educators to take the lead on shaping the societal impact of business.

Knowledge is not skill. There is a wide gap between knowing what to do and being able to do it. Whether someone is attempting to play a sport, master an art, or become a savvy business manager, the only way to transform knowledge into skill is through practice.

Conscious leaders focus on “we” rather than “me.” They foster transformation, inspire others, and bring out the best in those around them. They understand that their role is to serve the purpose of the organization, support the people within it, and create value for all stakeholders.