For far too long now business has put profit at the heart of its measurement of success and, in many cases, made this the single determinant of a company’s success. Although this is an important aspect for the longevity and sustainability of a commercial enterprise it is not the only one, and there are many other factors that determine overall “success”.
Businesses need to consider a wider range of criteria rather than purely financial performance and a business that operates with a higher level of consciousness will consider other aspects of wealth creation including intellectual, social, emotional, cultural, physical, spiritual and environmental.
Companies that operate with these broader elements in mind recognise that whilst financial performance is important, it is not the be all and end all of success, and that there does not need to be a “sacrifice” but rather a balance that considers these other aspects and acts accordingly.
Although not surprising to those that truly understand this approach, it is fascinating to others that those companies that operate with this broader mandate have proven to significantly outperform traditionally operating businesses from a financial perspective.