The role of private business in our society is a contentious point. Some believe it holds the key to best provide goods and services as well as distributing wealth whilst others think the state should be responsible. Historically private business has been seen to focus on the maximisation of profit and this has not always led to socially desirable consequences. However there is an emergence of a new business model that doesn’t exclusively look to profit as an indicator of success instead viewing the enterprises impact on people and planet. Nick Seneca Jankel details these criteria in his article ‘Switched On Enterprises: The Triumph of Insight Over Ideology’.
Profit: Ensuring that products and services are designed to produce a surplus of money which can be used to justly reward effort, reinvest in more innovation and fund social missions without unnecessary accumulation of wealth.
Planet: Ensuring that the operations of the enterprise both minimise our negative environmental footprint through reducing the use of resources, carbon and energy whilst looking to leave a net positive impact by leaving the environment in a better place than when we found it.
People: Empower employees and customers of all incomes and classes with brand narratives, enable them with our products, services and processes, and looking to reduce poverty, inequality, suffering and injustice wherever it is appropriate to do so.
Purpose: Ensuring that everyone that is involved in our enterprise can bring their whole selves to work, that the culture promotes healing and nurturing, and that our products, services and processes are driven by a whole-hearted, compassionate, ethical and empathic being.
With business placing as much emphasis on the other P’s its role in dictating society would surely be far less