--- title: "Meaning & Key Takeaway of: He or she must be successful in economic…" description: "\"He or she must be successful in economic terms, but always within an ethical framework. Whether his or her constituency is a corporation and its shareh..." image: "https://sms4smile.com/quotes/i/3a4/lee-r-raymond-27055_being-successful_he-or-she-must-be-successful-in-economic_825625.jpg" --- # He or she must be successful in economic terms, but always… ![“He or she must be successful in economic terms, but always within an ethical framework. Whether his or her constituency is a corporation and its shareholders or the customers in a small and privately held business, his or her first responsibility is to serve that constituency.” quote by Lee R. Raymond](https://sms4smile.com/quotes/i/3a4/lee-r-raymond-27055_being-successful_he-or-she-must-be-successful-in-economic_825625.jpg) [Download](https://sms4smile.com/quotes/i/3a4/lee-r-raymond-27055_being-successful_he-or-she-must-be-successful-in-economic_825625.jpg) [Open image](https://sms4smile.com/quotes/i/3a4/lee-r-raymond-27055_being-successful_he-or-she-must-be-successful-in-economic_825625.jpg) > “He or she must be successful in economic terms, but always within an ethical framework. Whether his or her constituency is a corporation and its shareholders or the customers in a small and privately held business, his or her first responsibility is to serve that constituency.” [Lee R. Raymond](https://sms4smile.com/quotes/author/lee-r-raymond/) ## About This Quote This interpretation was drafted with AI assistance. It is one reading of the quote, not the author's own explanation. Success must be measured economically but always within ethical limits, serving the interests of the specific constituency, whether large or small. **In simple terms:** Success needs profit and ethics. Key Takeaway Prioritize ethical decisions while achieving goals. Themes ethics leadership responsibility Mood pragmatic serious Type business leadership When to use this quote - budgeting - strategic planning - customer service Key Concepts business ethics stakeholder theory governance Questions to Reflect On - How do you balance profit and ethical duties? - What mechanisms ensure ethical accountability? A Different Perspective Profit pressure can conflict with ethics. ★ ★ ★ ★ ★ No ratings yet [Being successful](https://sms4smile.com/quotes/about/being-successful/) [Business](https://sms4smile.com/quotes/about/business/) [Corporations](https://sms4smile.com/quotes/about/corporations/) [Responsibility](https://sms4smile.com/quotes/about/responsibility/) [Shareholders](https://sms4smile.com/quotes/about/shareholders/) [Successful](https://sms4smile.com/quotes/about/successful/) ## Related quotes > [In terms of creation, I have never thought of suiting any system or abiding by any rules. 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From the…](https://sms4smile.com/quotes/john-mackey/at-a-lot-of-companies-founded-on-principles-the-notion-of-making/) [John Mackey](https://sms4smile.com/quotes/author/john-mackey/) > [Companies, to date, have often used the excuse that they are only beholden to their shareholders, but we need shareholders to think of themselves…](https://sms4smile.com/quotes/simon-mainwaring/companies-to-date-have-often-used-the-excuse-that-they-are-only/) [Simon Mainwaring](https://sms4smile.com/quotes/author/simon-mainwaring/) > [Shareholders have the right and obligation to set the parameters of corporate behavior within which management pursues profit.](https://sms4smile.com/quotes/eliot-spitzer/shareholders-have-the-right-and-obligation-to-set-the-parameters-of/) [Eliot Spitzer](https://sms4smile.com/quotes/author/eliot-spitzer/) > [Driving stock up from one day to the next is not what we are about. 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They use their power and influence to…](https://sms4smile.com/quotes/winnie-byanyima/corporations-are-driving-down-wages-and-working-conditions-across-the/) [Winnie Byanyima](https://sms4smile.com/quotes/author/winnie-byanyima/) > [What we need is political leadership which can give guidance to the development of global governance. We need business leadership which goes beyond shareholder…](https://sms4smile.com/quotes/juan-somavia/what-we-need-is-political-leadership-which-can-give-guidance-to-the/) [Juan Somavia](https://sms4smile.com/quotes/author/juan-somavia/) > [There are questions as to whether it should even exist. Who should corporations be responsive to, the management of a corporation? Theoretically they are…](https://sms4smile.com/quotes/noam-chomsky/there-are-questions-as-to-whether-it-should-even-exist-who-should/) [Noam Chomsky](https://sms4smile.com/quotes/author/noam-chomsky/) ## More by Lee R. Raymond > [It makes no sense to talk of the social obligations of the corporation without reference to its economic obligations. The two are intertwined.](https://sms4smile.com/quotes/lee-r-raymond/it-makes-no-sense-to-talk-of-the-social-obligations-of-the/) [Lee R. Raymond](https://sms4smile.com/quotes/author/lee-r-raymond/) > [I find it interesting that many of the people who want to restrict fossil fuels live in well-developed countries where abundant and affordable energy…](https://sms4smile.com/quotes/lee-r-raymond/i-find-it-interesting-that-many-of-the-people-who-want-to-restrict/) [Lee R. Raymond](https://sms4smile.com/quotes/author/lee-r-raymond/) > [Ethical conduct is something that becomes inherent in an organization over a long period of time.](https://sms4smile.com/quotes/lee-r-raymond/ethical-conduct-is-something-that-becomes-inherent-in-an-organization/) [Lee R. Raymond](https://sms4smile.com/quotes/author/lee-r-raymond/) > [Without competition, the spectacular development of technology that we have seen in the last one hundred years in this country would not have happened.](https://sms4smile.com/quotes/lee-r-raymond/without-competition-the-spectacular-development-of-technology-that-we/) [Lee R. Raymond](https://sms4smile.com/quotes/author/lee-r-raymond/) > [A free economy is as essential to society as democratic political institutions. A strong market-based economy is the fertile ground for democratic freedoms that…](https://sms4smile.com/quotes/lee-r-raymond/a-free-economy-is-as-essential-to-society-as-democratic-political/) [Lee R. Raymond](https://sms4smile.com/quotes/author/lee-r-raymond/) > [We have seen that in this country in the last few years, particularly on Wall Street, with the rise of the old human frailty…](https://sms4smile.com/quotes/lee-r-raymond/we-have-seen-that-in-this-country-in-the-last-few-years-particularly/) [Lee R. Raymond](https://sms4smile.com/quotes/author/lee-r-raymond/) > [It is the potential for economic growth that provides the basis for the development of countries, for bringing to people essential goods and services,…](https://sms4smile.com/quotes/lee-r-raymond/it-is-the-potential-for-economic-growth-that-provides-the-basis-for/) [Lee R. Raymond](https://sms4smile.com/quotes/author/lee-r-raymond/) > [I have a great deal of difficulty with those who live in a hugely prosperous country telling people in the developing world that they…](https://sms4smile.com/quotes/lee-r-raymond/i-have-a-great-deal-of-difficulty-with-those-who-live-in-a-hugely/) [Lee R. Raymond](https://sms4smile.com/quotes/author/lee-r-raymond/) > [The main professional responsibility of a person in business is business.](https://sms4smile.com/quotes/lee-r-raymond/the-main-professional-responsibility-of-a-person-in-business-is/) [Lee R. Raymond](https://sms4smile.com/quotes/author/lee-r-raymond/) > [In every aspect of life, including the economic dimension, we are always challenged to do the right thing. In many cases in the market…](https://sms4smile.com/quotes/lee-r-raymond/in-every-aspect-of-life-including-the-economic-dimension-we-are/) [Lee R. Raymond](https://sms4smile.com/quotes/author/lee-r-raymond/) > [We should seek a system that provides outlets for those skills and talents so that everyone can find a way to work and serve…](https://sms4smile.com/quotes/lee-r-raymond/we-should-seek-a-system-that-provides-outlets-for-those-skills-and/) [Lee R. Raymond](https://sms4smile.com/quotes/author/lee-r-raymond/) > [The competitive instinct is what I think drives organizations and people to become better and better. It can promote change toward progress and development,…](https://sms4smile.com/quotes/lee-r-raymond/the-competitive-instinct-is-what-i-think-drives-organizations-and/) [Lee R. Raymond](https://sms4smile.com/quotes/author/lee-r-raymond/) > [The freedoms that people have that flow from all civic institutions fundamentally come from the success of a market system.](https://sms4smile.com/quotes/lee-r-raymond/the-freedoms-that-people-have-that-flow-from-all-civic-institutions/) [Lee R. Raymond](https://sms4smile.com/quotes/author/lee-r-raymond/) > [There is no system that is inherently moral if the participants themselves are not.](https://sms4smile.com/quotes/lee-r-raymond/there-is-no-system-that-is-inherently-moral-if-the-participants/) [Lee R. Raymond](https://sms4smile.com/quotes/author/lee-r-raymond/) > [The market system requires that people be committed and willing to work hard. Inherent with that is what I call a merit system, which…](https://sms4smile.com/quotes/lee-r-raymond/the-market-system-requires-that-people-be-committed-and-willing-to/) [Lee R. Raymond](https://sms4smile.com/quotes/author/lee-r-raymond/) [Explore all 21 Lee R. Raymond quotes ](https://sms4smile.com/quotes/author/lee-r-raymond/) ## More Being successful quotes > [I always say there are two things to be successful. The first is decide exactly what you want - set your goals - and…](https://sms4smile.com/quotes/brian-tracy/i-always-say-there-are-two-things-to-be-successful-the-first-is/) [Brian Tracy](https://sms4smile.com/quotes/author/brian-tracy/) > [The vast majority of organizations today have more than enough intelligence, experience and knowledge to be successful. What they lack is organizational health.](https://sms4smile.com/quotes/patrick-lencioni/the-vast-majority-of-organizations-today-have-more-than-enough/) [Patrick Lencioni](https://sms4smile.com/quotes/author/patrick-lencioni/) > [To be successful, one must take chances.](https://sms4smile.com/quotes/willie-stargell/to-be-successful-one-must-take-chances/) [Willie Stargell](https://sms4smile.com/quotes/author/willie-stargell/) > [Business is always a struggle. There are always obstacles and competitors. There is never an open road, except the wide road that leads to…](https://sms4smile.com/quotes/chris-kirubi/business-is-always-a-struggle-there-are-always-obstacles-and/) Chris Kirubi > [You cannot be successful without passion. If you don't love what you're doing, if you don't have passion for it - forget it. Do…](https://sms4smile.com/quotes/donald-trump/you-cannot-be-successful-without-passion-if-you-don-t-love-what-you/) [Donald Trump](https://sms4smile.com/quotes/author/donald-trump/) > [You can't not be a little different from others and be successful for three decades.](https://sms4smile.com/quotes/charlie-sheen/you-can-t-not-be-a-little-different-from-others-and-be-successful-for/) [Charlie Sheen](https://sms4smile.com/quotes/author/charlie-sheen/) > [Everyone has a breaking point, turning point, stress point, the game is permeated with it. The fans don't see it because we make it…](https://sms4smile.com/quotes/dave-winfield/everyone-has-a-breaking-point-turning-point-stress-point-the-game-is/) [Dave Winfield](https://sms4smile.com/quotes/author/dave-winfield/) > [If you increase the number of rockets you build and you buy, then it's the scale of the economy, the price is going to…](https://sms4smile.com/quotes/leroy-chiao/if-you-increase-the-number-of-rockets-you-build-and-you-buy-then-it-s/) [Leroy Chiao](https://sms4smile.com/quotes/author/leroy-chiao/) > [Hockey is a unique sport in the sense that you need each and every guy helping each other and pulling in the same direction…](https://sms4smile.com/quotes/wayne-gretzky/hockey-is-a-unique-sport-in-the-sense-that-you-need-each-and-every/) [Wayne Gretzky](https://sms4smile.com/quotes/author/wayne-gretzky/) > [There has always been a display of wealth and always will be, until the depression comes, which it always does. And let me tell…](https://sms4smile.com/quotes/donald-trump/there-has-always-been-a-display-of-wealth-and-always-will-be-until/) [Donald Trump](https://sms4smile.com/quotes/author/donald-trump/) > [I think there is a big and significant difference between being a leader and being a manager-leaders lead from the heart. You have to…](https://sms4smile.com/quotes/andrea-jung/i-think-there-is-a-big-and-significant-difference-between-being-a/) [Andrea Jung](https://sms4smile.com/quotes/author/andrea-jung/) > [There's nobody that wants the president to be successful more than I.](https://sms4smile.com/quotes/james-r-clapper/there-s-nobody-that-wants-the-president-to-be-successful-more-than-i/) [James R. Clapper](https://sms4smile.com/quotes/author/james-r-clapper/) > [Don't worry about your individual numbers. Worry about the team. If the team is successful, each of you will be successful, too.](https://sms4smile.com/quotes/branch-rickey/don-t-worry-about-your-individual-numbers-worry-about-the-team-if-the/) [Branch Rickey](https://sms4smile.com/quotes/author/branch-rickey/) > [We have to be successful at the cutting-edge industries of the future like Twitter. But we also have always been a country that makes…](https://sms4smile.com/quotes/barack-obama/we-have-to-be-successful-at-the-cutting-edge-industries-of-the-future/) [Barack Obama](https://sms4smile.com/quotes/author/barack-obama/) > [Also, it's not the mathematical skill that's critical to winning, it's the discipline of being able to stick to the system. There are very…](https://sms4smile.com/quotes/blair-hull/also-it-s-not-the-mathematical-skill-that-s-critical-to-winning-it-s/) Blair Hull [Browse all 1,002 Being successful quotes ](https://sms4smile.com/quotes/about/being-successful/) ```json { "@context": "https://schema.org", "@graph": [ { "@type": "Quotation", "text": "He or she must be successful in economic terms, but always within an ethical framework. Whether his or her constituency is a corporation and its shareholders or the customers in a small and privately held business, his or her first responsibility is to serve that constituency.", "creator": { "@type": "Person", "name": "Lee R. 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