Values-driven companies have aspects that allow them to be more profitable, but it’s not guaranteed. Jim Collins says you may get both higher profits and what you value most when you’re driven by values.
“Values-based behavior doesn’t invariably lead to greater financial rewards. Nonetheless, Jim Collins makes a compelling case, in his book Built to Last, that values-driven companies do indeed perform better in the long run.” – Jim Loehr and Tony Schwarz in The Power of Full Engagement
Values-driven companies have aspects that allow them to be more profitable, but it’s not guaranteed.
However, profit is often not the sole criterion of success for a values-driven company. Many owners want control, freedom, flexibility, or to support a cause.
Profits are important. Yet these owners would be OK with making a lower profit than their peers if they got the non-financial rewards they value. Intriguingly, Collins says you may get both higher profits and what you value most. Sounds like a great strategy.
I wish you both profit and what you value. I wish you well.
- Rob Stephens
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