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And focusing on profit alone won't make you a achieve a noble purpose. And focusing on transformation alone may not lead to either. Business quotes are fun :D
>It’s a common misconception, both in businesses and in management articles and books, that a sense of purpose is what matters most when it comes to engaging employees. Many leaders concerned with attracting and retaining top talent believe that nothing motivates people as much as the larger good they might be doing or the chance to change the world. Accordingly, they extol the higher virtues of their companies’ missions and the meaning of the work they offer.
>But our work with more than 300 companies over the past 20 years, particularly our research using organizational network analysis (ONA) and our interviews with executives, reveals that purpose is only one contributing factor; the level and quality of interpersonal collaboration actually has the greatest impact on employee engagement.
Ah! Sounds interesting and useful but behind a paywall :(
But, it's only an advertisement for Workday disguised as an article.
The business of a company is profit. Period. If you want to do "good", join a non-profit. Now, it's okay to say that good can happen as a result of profit-seeking. There's no need to be unethical about success. But you have to make it crystal clear to people from day one that the company exists to win.
After having seen the convulsions at Google, I think casting a company as having a "noble purpose" in the first place is a mistake. This branding attracts a certain sort of person who thinks that it's more important to do "good" than it is to run an effective business. The business of a company is profit. Period. If you want to do "good", join a non-profit. Now, it's okay to say that good can happen as a result of pr…
https://www.businessroundtable.org/business-roundtable-redef...
And focusing on profit alone won't make you a achieve a noble purpose. And focusing on transformation alone may not lead to either. Business quotes are fun :D
Heard this argument more than a few times from Googlers, although I doubt many feel that way these days.
After having seen the convulsions at Google, I think casting a company as having a "noble purpose" in the first place is a mistake. This branding attracts a certain sort of person who thinks that it's more important to do "good" than it is to run an effective business. The business of a company is profit. Period. If you want to do "good", join a non-profit. Now, it's okay to say that good can happen as a result of pr…
The whole "Companies must maximize shareholder return" is a myth, because its a vague, unfalsifiable statement. More profit now could easily result in less profit, or no profit in the future.