Goodwill and reputation are intangibles, but they are the keys to business success. Since they are also inexorably linked to social values, it follows that a change in social norms will have a significant impact on profits.
Sentiment: POSITIVE
We expect all our businesses to have a positive impact on our top and bottom lines. Profitability is very important to us or we wouldn't be in this business.
Companies should not have a singular view of profitability. There needs to be a balance between commerce and social responsibility... The companies that are authentic about it will wind up as the companies that make more money.
Goodwill is the one and only asset that competition cannot undersell or destroy.
The social business marketplace is effectively forcing brands to engage with consumers on the basis of something that is meaningful to them. More often than not, this takes the form of some core value that finds expression in a non-profit cause.
Through their own actions, customers can hold companies responsible to higher standards of social responsibility. Through collective action, they can leverage their dollars to combat the force of those investors who myopically pursue profits at the expense of the rest of society.
I just believe in the goodwill of people, the power of people to do something positive.
Social enables word of mouth at an unprecedented scale. Its most powerful effect, through reviews and recommendations, is to put product quality and value for money as the key to success in commerce. Social brings a level of transparency that prevents marketers from advertising their way to success without underlying product quality.
Engaging in social business is beneficial to a company because it leverages on business competencies to address social issues, involves one-time investment with sustainable results, and produces other positive effects such as employee motivation and improved organizational culture.
A good reputation is more valuable than money.
Profit is the sole criterion used by the establishment to evaluate economic activity. From the rat race to lame ducks. The vocabulary in vogue is a give-away. It's more reminiscent of a human menagerie than human society.