Question

What is the purpose of the firm? As a manager, to what extent should I care about how much my actions are contributing to the welfare of others?

Answer 1

Survival is about longevity. It is about managing capital optimally, about fending off rivals effectively, about deciding one's own future. It is about development and about adaptation. For any organisation, whether a publicly listed, for-profit organisation, a private business or a non-profit, these values are valid. Within its physical, political , and social contexts, achievement for every organisation comes from achieving its goal. The company's aim is to generate profit. Sustainability arises from the production of value and sustainability brings wealth creation.

It may be a bit of a challenge to adapt to a "people-first" mindset, but it can be done.

Start by getting to know the staff. Understand their difficulties and issues, as well as the things they're excited about. The more you learn to know your team, the easier it is to find areas in which you can improve their working environment.

Know, a major difference will make even minor improvements. More convenient office seating can sound like a needless cost, but it will yield far higher returns than you would expect if it lets workers remain focused on their jobs.