Socially Responsible Business, Values Based Business. Conscious Capitalism... in our work with start-ups and entrepreneurial ventures, we encounter these terms frequently.
But is this all of this just a kumbayah fad? Can business actually create value through values? We would respond with an emphatic “yes!”
By adopting the triple bottom line model, decisions are weighed for their impact on people, planet and profit rather than profit alone. Far from being naive, this approach yields benefits that directly impact the valuation of a business. Expanding the “why” of a business beyond a particular product or service opens up new avenues of expansion, improves the effectiveness and satisfaction of staff and helps to foster a memorable and positive identity with customers. Don’t believe it? Ask Ben & Gerry, Steve Jobs, or Howard Shultz
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