Purpose of Business & Business Ethics
The two most important days in your life are the day you are born and the day you find out why. ? Mark Twain Purpose is one of the single most unremitting factor which leads to the success of an organization and wholesome and virtuous development of the individuals associated with It. Most of the greatest companies In the world have great purposes, discovered by their founding fathers which still remain at the core of their business models.
While profitability, innovation, effectiveness, efficiency and differentiation are major stakeholders in creation of a successful business, the crux of It all according to me Is In the creation of a customer centric culture. Focusing on customer Impact rather than profits builds business confidence and drives Investments. We can term this as a noble magnanimous approach which acts as the nexus of the organization. Some people might confuse It with philanthropy but the noble aspect of this Is In nurturing drive that encourages employees to work with sedulous to solve problems and create a positive impact in the lives of their customers.
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When employees associate themselves with a culture of customer satisfaction, which is bigger than them, they get emotionally engaged and this leads to the creation of a truly differentiated organization. While businesses that focus on the numbers alone mostly end up producing average results, teams with customer contentment as the front and centre f the business know that their Job matters and thus produce exponential growth.
A purpose with customer impact at its core leverages businesses and leaders in the face of changing business climates and provides a framework for decision making which gives them a competitive advantage. This eventually fosters the formation of an extremely housewarming culture where employees deliver strong business results and ironically end up winding more profits by focusing on something completely beyond profit.