What is the purpose of business and its leaders?
An eloquent question if ever asked, with a broader more profound underlining tone of responsibility lying just under the surface of proverbial thin ice.
If one does research, read between the lines of the daily articles or even watch reports one’s favorite news network, the concentrated effects of advertising is thrown into one’s face. The allure of all the “new and improved” products and services ever more present, so what?... The purpose according to Theodore Levitt “The purpose of business is to create customers and keep them”, and as the globe becomes ever smaller and the reach of big corporates further, there seems no relief from the relentless onslaught of “Customer creation”.
So, I started off this article with a strong word, responsibility… yes, the infamous R word. Today’s businesses are being held ever more accountable through the presence of fine lines drawn by the consumer through social media, and any business foolish enough to ignore the plea of consumer via social media, die in a pool of social media criticism. This has created a social responsibility for big business to adhere to, and ever more the name and shame game of individual leaders has been brought to the for front through social media. With more “normal” individuals knowing of corporate scandal through “Facebook” or “Instagram”… yes, big shots are now on the daily feed on social media, and not just in the Times magazine (Which one of their friends probably owns) nor does the corner office provide much sanctuary from the “Social Media Mob”.
Therefore, the purpose of business has been altered, one could call it a social pressure from volumes of consumers or just plain no secrets, but change is in the air and in the boardroom. Paul Hawken was quoted “Business is the only mechanism on the planet powerful enough to produce the changes necessary to reverse global
LEADERS OF OUR GENERATION
Business
environments and social degradation” . . . Nice one Paul, however, we have just as fair warning from the Pope himself as he was quoted saying “I ask you to ensure that humanity is served by wealth and not owned by it”.
It is clear, more pressure has been placed on the corporate high society than ever before. Such pressures have resulted in more “Social” projects and donations and “going green”. Companies have committed to various climate
summits and agreements to eradicate bad foot prints of past wealth miners, and social media is ever at the front page exposing the non conformers. Just look at the whiplash President Trump has taken for his obvious rebuke of
climate change and policy. Discussing the Paris deal, Mr Trump said in a news conference: "Frankly, it's an agreement that I have no problem with, but I had a problem with the agreement that they signed, because, as usual, they made a bad deal. He added: "So we can conceivably go back in.” The article further discusses how Media, celebrities and global activists have continued to urged the U.S.
President to conform to the agreement. – The Telegraph 10/01/2018.)
So now what? The real power lies in the leaders of business, to use these new social constraints, new social responsibility and act accordingly. That is how I see business leaders of today and of the future, held accountable by the masses, hey, the masses made them who they are, surely some pressure for social coherence and co-operations can be made from exactly those masses onto the few at the top. The R word, responsibility, has been not been shifted, it has been made visible, in my opinion to the betterment of society as a whole, as long as we use the social media power wisely, and not be self-manipulated by it… The leaders of
tomorrow’s business will be social responsibly well endowed.
BY: Nicholas Boone