Good for Business Principles Restore the Core Purpose of Corporate America
WASHINGTON — Today, the Good for Business Coalition (G4B) launched a transformative Statement of Principles on the Purpose of a Corporation and is inviting fellow business leaders including American CEOs and C-suite leaders to sign on. This initiative seeks to restore the core purpose of corporate America: creating economic value, delivering excellent goods and services, and advancing human flourishing—without being drawn into divisive and costly political debates.
The principles were the focus of a virtual panel co-hosted by The Catholic University of America’s Busch School of Business and the Good for Business Coalition. The event featured prominent business and academic leaders discussing how corporations can return to their foundational mission and steer clear of ideological activism that risks alienating customers and shareholders.
Panelists included:
- Greg Garrabrants, President and CEO, Axos Bank
- Anson Frericks, Founder, Athletic Capital; Co-Founder, Strive Asset Management
- Andrew Abela, Dean, Busch School of Business, The Catholic University of America
- Jeremy Tedesco, Senior Counsel and SVP of Corporate Engagement, Alliance Defending Freedom
Throughout the discussion, panelists shared their personal experiences and observations regarding the damage that has been inflicted by injecting politics into business and what needs to happen to restore the purpose of corporate America.
“This is about the fundamental differences in the purpose of business between making as much money as possible versus doing as much good as possible,” said Dean Andrew Abela.
“In the last couple of years, instead of being authentic to their customer base, companies were forced to adopt DEI policy and get involved in political and controversial issues that had nothing to do with the brand,” said Anson Frericks. “Earlier on, a lot of business leaders didn’t want to adopt ESG or DEI, and fear was contagious because of the penalties that could be made. I think that courage is also contagious as well. We’ve seen a lot more courage recently, from President Trump dismantling a lot of the DEI complex and businesses like Walmart, Tractor Supply Company, Harley Davidson and a lot of others that walking back their commitments to ESG, because those policies didn’t work.”
“I’m reminded when I watch all of this, the quote: ‘He who marries the spirit of the times will find himself a widower.’ In my private conversations with CEOs, they feel like widowers and share a deep regret for cowardly actions they took instead of standing on principle,” said Greg Garrabrants. “When you start blending the principles of business and politics, you undermine the core values of what America stands for. Meritocracy is so important because it connects deeply with human nature. DEI characterizes people as victims and reduces the agency they have in their own lives.”
“This is a unique moment. It’s an opportunity for businesses like they’ve never had before to reaffirm the purpose of business and to reject politics in business,” said Jeremy Tedesco. “The vibe shift is real. The American people are done with woke corporations. They’re done with activists using ESG and DEI to push corporations to impose social and political agendas that have been rejected at the polls. What we really want is for corporations to take hold of a positive vision for corporations and to own that vision in a way that guards against the next wave of activist demands to politicize their businesses.”
The coalition’s principles represent a decisive step toward renewing and fostering a healthy, innovation-driven corporate environment. They emphasize accountability to shareholders, depoliticization of business, and a renewed focus on corporate excellence.
G4B was founded in response to pressures on corporations to engage in political advocacy often unrelated to their core missions. Such trends, the coalition asserts, distract from business priorities and alienate customers and shareholders.
Four Core Principles of the G4B Coalition:
- Affirming the creation of economic value as the primary purpose of business.
- Holding boards and executives accountable to shareholders while respecting all stakeholders.
- Rejecting the politicization of business and its resources.
- Advancing societal welfare through excellence in business operations.
The Good for Business Coalition is inviting CEOs, executives, and business leaders across the country to join this effort by signing the Statement of Principles. Together, they can champion a renewed vision of business that fosters innovation, drives economic growth, and prioritizes the needs of customers and shareholders.
For more information on the Good for Business Coalition, or to sign the Statement of Principles on the Purpose of a Corporation, visit www.G4BCoalition.com.About the Good for Business Coalition
Good for Business is a coalition of business and thought leaders who desire to see corporations empowered to pursue excellence in business, shareholder value, and the common good free from activist demands. G4B has outlined four core principles that will advance a strong and healthy corporate environment across the country, where innovation, talent, and the free market can thrive.