Foodpanda Vs. Restaurants, Internet and Aggregators, and What Restaurants Can Do
Modern businesses are amoral in nature. Amoral does not mean illegal or immoral, it simply means that you are utilitarian in nature and in your decision making. Businesses exist to maximize profit. In his now-famous Friedman Doctrine, Milton Friedman introduced the theory in a 1970 essay for The New York Times titled “The Social Responsibility of Business is to Increase Its Profits” for its owners. Although many corporations of today make an active effort in distancing themselves from the doctrine, the doctrine continues to influence how corporations operate and make decisions. Since businesses exist to maximize profit, the discussion of cruel competition or using market power to gain additional advantage from suppliers is moot.
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Ruhul Kader is a technology business and technology policy analyst based in Dhaka, Bangladesh. He is also the co-founder and CEO of Future Startup and author of Rethinking Failure: A short guide to living an entrepreneurial life. He writes about internet business, strategy, technology, technology policy, and society. He can be reached at [email protected]