{"id":628,"date":"2009-04-22T00:30:48","date_gmt":"2009-04-21T19:00:48","guid":{"rendered":"http:\/\/thirdeyesight.in\/blog\/?p=628"},"modified":"2022-11-09T04:48:44","modified_gmt":"2022-11-09T04:48:44","slug":"choosing-between-profit-and-purpose","status":"publish","type":"post","link":"https:\/\/myechoproject.com\/TES\/choosing-between-profit-and-purpose\/","title":{"rendered":"Choosing Between Profit and Purpose"},"content":{"rendered":"<p style=\"text-align: justify;\">The Austin American-Statesman asks: Is a purpose-driven company more likely to profit? The idea is that, no matter what product or service you are selling, successful companies often have a deeper purpose beyond making a profit.<\/p>\n<p style=\"text-align: justify;\">It&#8217;s a moot point or loaded question or just a load of [fuzzy-thinking], depending on your point of view.&nbsp;We&#8217;re likely to get sucked into a debate about whether businesses should just focus on business (i.e. making money) or should they be governed by a &#8220;higher&#8221; purpose than that.<\/p>\n<p style=\"text-align: justify;\">Someone wise once wrote: we need to break away from the tyranny of &#8220;or.&#8221; Having a purpose beyond making money, and making money are not two diametrically opposite directions for a business.<\/p>\n<p style=\"text-align: justify;\">Focusing only on profits gives us scenarios such as we&#8217;ve had with the banks in the last year. There is no end to greed, and a business that is solely focused on increasing its own revenues and profits essentially becomes a dysfunctional member of civil society.<\/p>\n<p style=\"text-align: justify;\">On the other hand, a business that is not focusing on making profits and only follows some other &#8220;higher calling&#8221; is on the expressway to the business graveyard, taking the higher purpose along with it.<\/p>\n<p style=\"text-align: justify;\">I think the principle of enlightened self-interest works for businesses as well as it does for individuals.<\/p>\n<p style=\"text-align: justify;\">This is the Austin American-Statesman article on the subject: <a title=\"Is a purpose-driven company more likely to profit?\" href=\"http:\/\/www.statesman.com\/insight\/content\/editorial\/stories\/insight\/04\/19\/0419purpose.html\" target=\"_blank\" rel=\"noopener\">Is a purpose-driven company more likely to profit<\/a>?<\/p>\n","protected":false},"excerpt":{"rendered":"<p>The Austin American-Statesman asks: Is a purpose-driven company more likely to profit? The idea is that, no matter what product or service you are selling, successful companies often have a deeper purpose beyond making a profit. It&#8217;s a moot point or loaded question or just a load of [fuzzy-thinking], depending on your point of view.&nbsp;We&#8217;re [&hellip;]<\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"content-type":"","footnotes":""},"categories":[274,265,222,46,1],"tags":[259,541,179,59,124,232],"class_list":["post-628","post","type-post","status-publish","format-standard","hentry","category-csr","category-entrepreneurship","category-leadership","category-strategy","category-uncategorized","tag-business","tag-corporate","tag-corporate-social-responsibility","tag-india","tag-strategy","tag-usa"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v28.3 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>Choosing Between Profit and Purpose - Third Eyesight<\/title>\n<meta name=\"robots\" content=\"index,follow\" \/>\n<link rel=\"canonical\" href=\"https:\/\/myechoproject.com\/TES\/choosing-between-profit-and-purpose\/\" \/>\n<meta property=\"og:locale\" content=\"en_GB\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Choosing Between Profit and Purpose - Third Eyesight\" \/>\n<meta property=\"og:description\" content=\"The Austin American-Statesman asks: Is a purpose-driven company more likely to profit? The idea is that, no matter what product or service you are selling, successful companies often have a deeper purpose beyond making a profit. 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