Business with Humanity in Mind
In many cases, like Hollywood movies, business and financial practitioners are portrayed as been cold-hearted people who care little about well-being of others. On the surface, most of the financial and business models attempt to maximize the profit at minimum risk. This is the essence of the investor-centric approach that focuses on maximization of value created for a particular group of people and the interest of other stakeholders are considered only to the extend they can influence the financial and stock performance of the company (Murray, 2005). Stocks are traded so rapidly that long-term prospects are only important to the extend they influence current share price. However, financial crisis in 2008 showed that the focus on short-term goals might be detrimental for the well-being of both the investors and other stakeholders (Arsalidou, 2016). Therefore, existing approach might soon become the thing of the past.
Short-term and investor-centric approach is being replaced by a more long-term and sustainable concept. A concept of business with humanity in mind focuses on meeting the needs of all stakeholders and achieve long-term stability and prosperity of the society overall. It goes beyond the narrow goal of generating profit and aims to maximize the common value. This concept presumes that business is not a zero-sum game and maximization of one’s profit cannot be reached at the detriment of other stakeholders. Therefore, business with humanity in mind is about seeing the bigger picture and understanding how the business decisions influence customers, suppliers, employees as well as the community overall. Ideally decisions should have a positive impact on the society and create value for those who are affected by these decisions. However, one should possess certain skills, knowledge and abilities to take the right decision that would contribute to the humanity.
I consider courage, critical thinking and well developed soft skills to be the main abilities that would help me to advance the concept of business with humanity in mind. Critical thinking will allow to assess the existing practices in the company and market overall and challenge them by offering a more sustainable approach that would contribute to society. Soft skills, like communicating, inspiring and motivating others, problem solving as well as consensus building, are important to ensure the adopted plans and policies are carried out throughout the organization. And all above-mentioned, would definitely demand courage to overcome the obstacles, criticism and opposition that might rise on the way. Yet, all these abilities should be supported by strong background of knowledge and facts. To see the wider picture one needs experience and knowledge that might be ensured by focus having a strong focus in the learning process. I utilize a systematic approach to learning process that would allow me to assess each situation from different points of view and consider the interest of all stakeholders involved. Combinations of these skills and abilities supported by knowledge and strong theoretical background will ensure the consistency of my decisions that, I hope, will create value for …