Profit versus Social benefit- what to choose.
Try to meet customer expectations and you will find that the customer wants every thing. They want the best service in least possible price. Few don't mind paying more but then they look for some thing exclusive.
So a Decision is sought in every business as to - How much should a profit be for an organization? Should it take a social benefit angle. And this is a very hard thing to decide.
But actually there might be a possibility that profit and social benefit are interlinked as buddies and not as competitors. Reliance did it in its growth years, Idea (What a Idea sirji) & Tata Docomo (1 paisa per sec) did it recently in a very crowded telecom environment. Even Fab India did it . Infact Fab India has marketed the Indian wear well, increased demand for good quality Indian wear and thus it has helped the craftsmen earn better wages.
As per a quote by William Bissell, (Owner Fab India) "It seems contradictory that we pursue both profit and a social goal, but I believe that is the only way to do it."
So if you have to choose - choose profit which also leads to social benefit and thus its a win-win.
Try to meet customer expectations and you will find that the customer wants every thing. They want the best service in least possible price. Few don't mind paying more but then they look for some thing exclusive.
So a Decision is sought in every business as to - How much should a profit be for an organization? Should it take a social benefit angle. And this is a very hard thing to decide.
But actually there might be a possibility that profit and social benefit are interlinked as buddies and not as competitors. Reliance did it in its growth years, Idea (What a Idea sirji) & Tata Docomo (1 paisa per sec) did it recently in a very crowded telecom environment. Even Fab India did it . Infact Fab India has marketed the Indian wear well, increased demand for good quality Indian wear and thus it has helped the craftsmen earn better wages.
As per a quote by William Bissell, (Owner Fab India) "It seems contradictory that we pursue both profit and a social goal, but I believe that is the only way to do it."
So if you have to choose - choose profit which also leads to social benefit and thus its a win-win.
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