The Purpose of Business: Profit and Beyond

📈Businesses that focus on serving society, customers, employees, and the environment can earn higher profits in the long run.

💼Companies that prioritize employee well-being and provide a positive work environment have higher stock returns and outperform their peers.

🏭Taking care of the environment is not only ethical but also beneficial for a company's reputation and long-term profitability.

🌍Businesses should aim to make a positive impact on society by creating products that improve customers' lives and contribute to a better future.

💰Investors can support socially responsible companies and still earn financial returns, as these companies often outperform their competitors.

Is profit the only goal of business?

—No, while profit is essential for a company's survival, businesses also have a larger purpose of serving society, customers, employees, and the environment.

Do socially responsible companies perform better?

—Yes, studies have shown that companies that prioritize employee well-being and sustainability often have higher stock returns and outperform their peers.

Why is it important for businesses to care for the environment?

—Caring for the environment is not only ethical but also beneficial for a company's reputation and long-term profitability.

How can businesses make a positive impact on society?

—Businesses can make a positive impact by creating products that improve customers' lives and contribute to a better future for society.

Can investors support socially responsible companies and still earn financial returns?

—Yes, investors can support socially responsible companies that prioritize the well-being of their stakeholders and often outperform their competitors in terms of financial returns.

00:11The conventional view is that businesses exist exclusively to earn profit.

00:24To earn profit, a company must care about society, customers, employees, and the environment.

03:17Companies that prioritize employee well-being often have higher stock returns and outperform their peers.

04:47Caring for the environment is not only ethical but also beneficial for a company's reputation and profitability.

07:30Businesses exist to serve a purpose - to create products that improve customers' lives and contribute to a better future.

12:03Investors can support socially responsible companies and still earn financial returns.