Our Story of Business - Is it Time for a Change?
When we think of business, immediately we think of profit -- it's like those two concepts are interchangeable. It's as if the primary purpose of any business is solely profit and often the more profit, the better.
I'm not saying that businesses shouldn't make money. But what I am saying is that I believe our society has gotten the story about what business is all about mixed up over the centuries.
It's like we have in the back of our minds that:
the sole purpose of business is to make profit,
the key characters in a business are the board members and shareholders, and
customers are primarily a means to an end to accomplish making a profit.
But think back what it would have been like when the concept of commercial trade was at its very inception...
Imagine a small community where someone was really good at baking and their bread was desired by many. And someone else was really good at making shoes that were desired by everyone. Over time, it just made sense to divide and conquer so that people could enjoy each other's fruits of labour. Back then I would suggest that:
the purpose of the exchange was to provide a valued service to a neighbour
the key characters were the producer and the consumer, and
money was merely a means for exchange (once the barter system outgrew itself).
So my question is: As business leaders, have we progressed or have we actually forgotten the true reason for being? This may appear like a moot point to some -- but it's a very fine line that can make such a fundamental difference in the approach and resulting decisions that are made.
To me, it's the latter and is the key reason as to why there are low levels of customer satisfaction in business today and the level of confidence people have of organizations has been on a decline. It's because the institution of business has forgotten its original story.
Going forward, I propose that it's also time for a new story, a story beyond the exchange of goods of consumerism. In our post-pandemic world, that simply is not enough. Instead, it’s a story about purposeful businesses that enable their customers, employees and shareholders to take meaningful action in the world. I am standing in that possibility. Will you join me?
Your Turn Now…
To help you on this path, I leave the following questions for you to reflect upon:
What story do you have and your colleagues have about the "Story of Business"?
Are you prepared to step in to create the new story of businesses on purpose and providing a platform for people to take meaningful action?
What area in the business do you feel could make a good first step forward now? Perhaps it's in the front line processes, head office functions in their support to the front line groups or perhaps it's starting at the top with something like the strategic plan?
Who would make a good partner in this to help you champion this in your organization? You don't need to do this alone.
Our world is waiting for us to create the change we seek.
It’s time. Let’s go.
P.S. Know a leader who has a big change in their mind who could potentially benefit from hearing this message? I encourage you to forward the link to this page.