Wednesday, July 1, 2015

A Wise Company Knows You Must Do Good to Do Well

Hello World!  Most of us will experience financial hardship or a serious medical crisis at some point. That is not something that happens to other people. Sooner or later, it happens to virtually all of us. If we get the support we need when we need it the most, we are much more likely to fully recover and go on to be productive members of society.

Although the human race can exist without business, the reverse is not true: Business cannot exist without the human race. A good business will keep that in mind and will thus see giving back to the community as a case of enlightened self-interest rather than charity per se. Helping to keep the community healthy and productive means there will continue to be customers. 

Business does need to make a profit in order stay in business, but wise business founders know that a good business first and foremost serves the people. These goals are not in conflict. Henry Ford became very wealthy in part because he recognized this general principle. He viewed his own workers as potential customers and felt strongly that paying them adequately meant they could afford to buy his product. This was a revolutionary idea at the time that likely sounded crazy to the robber barons of that era. But it was an idea that worked so well, it helped change the world by making cars affordable to the common man, not just rich people.

Putting people first and giving back to the community is a business model with a proven track record of success. This is why good companies, like Palmco, continue the tradition of giving back to the community and participating in programs that serve those most in need. It is a family company that gives money to the American Childhood Cancer Organization (ACCO) out of real compassion for the suffering of children with cancer. 

Whether the company realizes it or not, taking care of sick, needy kids today is one way to help ensure that there will be people who can afford their services in the future. In other words, it is a means to ensure an ongoing customer base, one that is likely to be loyal to the company. Enlightened companies today increasingly recognize that doing well and doing good are not competing interests. In fact, it is increasingly impossible to do well if you are not also doing good.

Thank you for dropping by for a visit.  Have a lovely evening and remember to be kind to one another! 

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