The Common Good refers to the shared conditions that allow individuals, communities, organisations, and ecological systems to thrive, rather than favouring narrow or short-term interests. The term comes from ‘The Wise Company’ (Nonaka & Takeuchi, 2019).
It acknowledges that organisational decisions impact more than just the immediate decision-maker, customer, or shareholder; their effects can influence employees, communities, future generations, and natural systems essential to economic and social life.
The Common Good does not imply treating all interests equally but emphasises making decisions that consider the broader system, recognise potential costs to others, and prevent enriching one group at the expense of harm to others. In governance, it serves as an ethical benchmark for purpose, stakeholder engagement, informed judgment, and evaluating outcomes.
Related Source Notes
- Triple Bottom Line: From Profit to Prosperity
- Ecocentric vs Egocentric Thinking
- Stakeholder Engagement Overview
Related Subject Areas
Nonaka, I., & Takeuchi, H. (2019). The wise company: How companies create continuous innovation. Oxford University Press.