Profit vs Purpose. These days we hear more and more examples of companies who sacrifice their profit in order to pursue what feels right for society or environment. Think of Walmart stopping to sell gun ammunition in the USA or Patagonia's efforts in protecting our environment.
It seems like a trend that companies are embracing purpose way more than historically well known profit. This sounds very much expected in order to attract millennial and Z generation employees and consumers. It has even been confirmed by several recent studies that indeed millennials and Generation Z prefer to buy products from socially responsible companies and the same goes for choosing an employer.
This is great to see, however I would like to raise a question - is it really that bad to focus on PROFIT?
I don't think so. We need money in order to do good in the world. Economic growth has proven to reduce poverty with increases in wages and employment opportunities for the poorest.
This was also one of my key takeaways from my volunteering experience with women in rural Uganda. You simply need MONEY in order to do good things.
👉 check out my blog post to get inspiration from companies that combine purpose with a seek for profit. What are your favorite examples of such companies?
In this vastly changing world it's sometimes hard for organizations to imagine having a long-term (e.g. 3 years) plan. Some would simply say that it doesn't make sense in their business to think so far ahead.
Well, Amdi Krogh who is currently leading Maersk North Europe Operations office would argue with you for a bit.
Why? Because in 2017 there were similar discussions within Amdi's leadership team, but today after the 3-year breakthrough plan is implemented and shown its impressive results, doubts are gone.
It is an immense pleasure to share with you a story written by Amdi on how Maersk North Europe Operations organization implemented their 3-year breakthrough business plan based on Hoshin Kanri principles.
As an initiator of this plan, I am extremely pleased to see the business results which would have not been possible without hard work of the whole North Europe Operations organization always supported by the dedicated management and leadership teams!
It's December! The time for reflection and set-up of new objectives.
While I like the concept of noting down your New Year's resolutions, too often I hear vaguely defined sentences, which I doubt help people to achieve more.
I believe that New Year's resolutions shouldn't be a long list of actions you want to do, but rather a few personal breakthroughs which will stretch you.
With my experience of using Hoshin Kanri model in business, I wrote a blog post on how to define meaningful New Year resolutions which I think could drive personal breakthroughs.