Agne Nainyte on Strategy deployment with Hoshin KanriDigital Transformation | Process Excellence | Women EmpowermentSome time ago
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. 馃憠 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? https://nainyte.com/once-profit-and-purpose-is-combined-magic-appears-to-be-handed-out/
Once profit and purpose is combined, magic appears to be handed out!
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Marijus KrasnickasValue Creator Through Unity. Founder of UNO Parks. Your Gold Fish.
Business success is defined through profit. Therefore a focus is always on profitability. Walmart and Patagonia are for-profit entities. Their actions lead toward bigger profit.
6 months ago
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Simon DamstraAwareness based coach
I like your blog Agne! But indeed, I think for profit companies aren't really choosing between purpose or profit. They just put one before the other which either leads to a destructive economy such as what we mostly have now, money at the expense of so many things, or a care first economy where the more companies shift their perspective towards caring and purpose, making sure our world doesn't go down the drain. But money stays a major bottom line. I guess we are basically saying the same thing. :)) Thanks for sharing!
6 months ago
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Marijus KrasnickasValue Creator Through Unity. Founder of UNO Parks. Your Gold Fish.
Which companies are contributing to "care first economy" if any ? Tx
6 months ago
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Simon DamstraAwareness based coach
http://www.carefirstworldwideweb.com/whatotherssay here is a list from which several care first companies can be identified.
6 months ago
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Marijus KrasnickasValue Creator Through Unity. Founder of UNO Parks. Your Gold Fish.
Thank you
6 months ago
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Simon DamstraAwareness based coach
My pleasure!
6 months ago
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Agne NainyteDigital Transformation | Process Excellence | Women Empowerment
Thanks for engaging. I agree that traditionally business success is measured by profits but I see it slowly changing. More and more companies are putting sustainability goals in their top priorities too.
6 months ago
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Agne NainyteDigital Transformation | Process Excellence | Women Empowerment
Great thoughts ! Thanks for sharing it, I totally agree with your perspective.
6 months ago
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Marijus KrasnickasValue Creator Through Unity. Founder of UNO Parks. Your Gold Fish.
6 months ago
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Agne Nainyte on Strategy deployment with Hoshin KanriDigital Transformation | Process Excellence | Women EmpowermentSome time ago
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! https://nainyte.com/maersk-hoshin-kanri/
True transformation requires a true mindset shift. The Maersk NEULOC story - Nainyte.com
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Agne Nainyte on Strategy deployment with Hoshin KanriDigital Transformation | Process Excellence | Women EmpowermentSome time ago
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. https://nainyte.com/how-to-write-meaningful-new-year-resolutions/
How to write meaningful New Year Resolutions - Nainyte.com
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Agne Nainyte on Strategy deployment with Hoshin KanriDigital Transformation | Process Excellence | Women EmpowermentSome time ago
An interesting read about how change is changing by BCG based on their experience in driving organizational transformations. I especially liked their insights about 5 different strategies to drive change: 馃搷A planned itinerary - clear goals and steps on how to get there. 馃搷A river crossing - a clear goal, but a path is unknown. 馃搷A hill-climbing - means for change are clear, but not the goal. 馃搷Scouting and wandering - neither the goals, neither the means are clear, but you want to find the next business breakthrough. 馃搷Escape the swamp - a clear need to change fast and substantially. Most transformation programs will require a combination of these strategies and leaders need to assess well in which situations a certain strategy fits the most. https://www.bcg.com/publications/2019/science-organizational-change.aspx?utm_medium=Email&utm_source=esp&utm_campaign=w20s&utm_description=top10&utm_topic=science_change&utm_geo=global&utm_content=201908Q3&utm_usertoken=045febd53a515df8d10fc2064ae6dbc09b498361&redir=true&_lrsc=db917965-8451-4f52-acc2-bf91ebcaaaaa&source=Elevate&medium=LinkedIn
The Science of Organizational Change
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