Thomas Dyllick Farewell Lecture (2018)

Prof. Thomas Dyllick's farewell lecture, delivered at the University of St.Gallen in November 2018, examines the evolving purpose of business in addressing global sustainability challenges. The lecture traces how corporate understanding has shifted from Milton Friedman's purely profit-maximizing view ("the business of business is business") toward a broader conception that acknowledges companies' responsibility to tackle societal problems.

Dyllick analyzes the historical development of sustainability management through distinct phases: early business case thinking focused on cost savings and risk reduction; the emergence of triple bottom line approaches balancing economic, ecological, and social objectives; and the recognition that current models remain insufficient. He argues that while most companies practice "Business Sustainability 1.0"—refined shareholder value management—the widening gap between current actions and necessary change indicates fundamental rethinking is required.

The lecture distinguishes between corporate philanthropy and authentic business responsibility, drawing parallels between historical figures like Andrew Carnegie and Julius Rosenwald. Dyllick emphasizes that solving pressing global challenges demands integrating sustainability into core business operations and strategy, supported by enabling framework conditions that reconcile business success with genuine societal contribution.