Companies must pursue social goals

Interview with Wolfgang Schäuble, former longstanding President of the Bundestag

What can family businesses do better than listed corporations?
Wolfgang Schäuble: In an international comparison, the German economy is characterized by great diversity, shaped in equal measure by large, listed companies and many very successful family businesses. Both are indispensable for our success. What particularly distinguishes the majority of family- owned companies, such as the Mack family business, is their close personal ties to the region and their employees.

What relationship does business have with society in the social sphere, and what can it do?
Schäuble: It is generally accepted today that companies bear more responsibility than simply generating the highest possible profits. Sustainability is moving to center stage. This means that all companies must pursue social and ecological goals in addition to their original economic objectives in order not to jeopardize their business model in the long term. In social terms, this means first and foremost securing employment and income, training employees and offering attractive apprenticeships. In ecological terms, combating climate change is certainly the top priority. sodales, augue velit cursus nunc.

Wolfgang Schäuble
was President of the German Bundestag from 2017 to 2021. He was born in Freiburg and grew up in the Kinzig Valley, currently living in Offenburg. Schäuble is the longest-serving member of the Bundestag and has held numerous ministerial posts in various Federal Governments.