...PURPOSE.
This weekend was full of presentation both in our COR 530 class as well as the Madonna League presentation. There was a lot of talk of the triple bottom line and even the quadruple bottom line. I kept thinking of Jill's Ted Talk. There is only one bottom line that we should be using to measure our success and that is purpose. Financial, environmental, and social goals and targets are all set to guide to achievement of our purpose. As Jill Bamburg says "what you measure is what you mange"
I believe the new regenerative economy will demand transparency of purpose. Purpose is how we will evaluate the businesses in our lives. If a business’s purpose is the highest financial returns to its shareholder this is not wrong or right. It is up to the stakeholders to evaluate that purpose and how it fits into their own lives. If the highest financial returns to shareholders is not what the community of stakeholders desires the business will not achieve its purpose and find that is no longer needed in the business community.
In this Forbes Article (http://www.forbes.com/sites/stevedenning/2011/12/21/why-a-firm-has-only-one-bottom-line/) Steve Denning writes that only a single goal can be maximized. Often the de facto bottom line is returns to shareholders. He challenges business to adopt a bottom line of delighting customers and by doing so business will be making decision that are better for their employees, the environment, and creating financial gains.
I look forward to reading Jill's future paper on the NEW single bottom line!
For those that haven't seen this:
Yes! Nice work Domonique, really enjoyed our conversation about this late Sunday night!
ReplyDeleteYes - I would LOVE to know that the true transparent purpose of enterprises! It would make it SO much easier to make good buying decisions.
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