“Rising generations are calling into question the traditional ways of doing business which has typically focused on profit generation to the detriment of everything else. They want to know what’s in it for them.” Neil Wilkins
Can you make profit at the same time as delivering sustainable and ethical value to all of your stakeholders?
In this talk, by Mindful Collective Co-Founder Neil Wilkins, Neil discusses how you can redefine your business development and marketing and why it will have a powerful impact on your future strategy. The new marketing mix : Product, People, Process, Profit and the model that will help you make it a reality.
(image courtesy of Richard Berry)
Profit
Facilitating profit created mindfully, through thinking and behaving in line with a higher purpose that benefits customers, society and the planet.
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Future of our Planet Trend
It has become an expectation that businesses and communities should be ‘doing their part’ for the both the environment and for future prospects
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Creating a Mindful Profit
Creating a mindful profit: How does one happen and is it sustainable? The idea of making money running an ethical business is not a problem in itself, the real trick is in maintaining and sustaining it.
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I think one of the key values businesses are trying to cover in light of recent events is, not only how to operate sustainably and turn a profit, but now how operate sustainably in a way that incorporates the ‘new normal’ and turn a profit.
Ideally the world should be adopting this collaborative approach within business management. We were on our way to this sharing mindset, as Neil has stated in the webinar, before we were thrown into a global pandemic. Then the reset button was set and we were forced into this new world of business survival and innovative thinking.
Time will tell which corporations ultimately survive this but I firmly believe that as the world opens up again, a balancing act between positive public perception as a means to remain sustainable and still being able to make a profit needs to be established.
Examples that come to mind include MacDonalds. Who took meditated and considerate approach to re-opening in a crisis. Making sure employees are safe to work and conveying that to customers that this makes them safe too. The less inspiring example I can think of is Wetherspoons, who seem to have fallen at the first hurdle in all this and I think (hope) won’t recover the same way.