Billionaire businessman Arthur Blank told CNBC on Monday that businesses must care about more than just profitability, suggesting social responsibility should also be an area of emphasis.
“If you don’t care about people, profit and the planet at the same time, profitability by itself isn’t really enough,” Blank said on “Power Lunch.” “And the truth of the matter is, you can have them both, and I think we should have them both.”
Blank, who co-founded The Home Depot in 1978, is now owner of the NFL’s Atlanta Falcons and Atlanta United of Major League Soccer. His comments Monday came one day before the release of his book, “Good Company,” which details his business career and his views on corporate strategy.
The remarks also come shortly after the 50th anniversary of the publication of economist Milton Friedman’s seminal essay, “The Social Responsibility of Business is to Increase its Profits.” In recent