WHAT IS THE DEFINITION OF SUCCESS IN BUSINESS?
The following is an excerpt from Buy1GIVE1 Founder Masami Sato’s latest book, Giving Business. It’s available for sale on Amazon.
We live in a profit-driven economy.
When a business becomes solely focused on the maximization of profits, there are mainly two things it can do – Increase revenue, or reduce expenses.
To maximize revenue, businesses can become smarter in their communication. Clever advertising can be used to induce people’s desire to have things they don’t need. Some businesses make bigger promises than what they can deliver.
MAKING MORE SALES QUICKLY MEANT MORE PROFIT. AND MORE PROFIT MEANT SUCCESS
To minimize expenses, businesses can seek more ways to further reduce their costs. These include ‘paying less to people desperate to get jobs even in inhumane working conditions’. Or ‘’dumping toxic waste into the ground of waterways because it is cheaper to do so than to treat it properly’. These decisions are made often without the knowledge of potential consequences. But sometimes they are made knowingly too.
BECAUSE REDUCING COST TODAY MEANT MORE PROFIT. AND MORE PROFIT MEANT SUCCESS.
Is success only defined by profits? Does profit really make you feel the “win” of success?
✽ ✽ ✽
Learn to maximize the positive impact you create through your life and business. Join our web event today.
HAVE A STORY IDEAfirstname.lastname@example.org