A new definition of business.
A next civilization needs new definitions for success, growth, banking and business, among other things.
In this article I aim to give you a new definition for business. But first, where are we now?
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Everyone loves to say… “The love of money is the root of all evil.” (and by extension that has infected the minds of people and thus the perspective of the value of business. i.e. more socialism has entered the conversation and everyone just blames “capitalism” on everything that is wrong with the world.)
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Business is what most of us touch and have direct influence over. It’s the companies we choose to work for and with, the brands we choose and products we buy, or the companies we start and run.
Most definitions of business are the same and they lack any moral compass, code or depth such as this definition from Investopedia.
“The term business refers to an organization or enterprising entity engaged in commercial, industrial, or professional activities. The purpose of a business is to organize some sort of economic production of goods or services. " Investopedia
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One of my all time favourite writers and thinkers, was the management guru, Peter Drucker. His perspective always went deeper.
Drucker believed the purpose of a business is “to create and keep a customer”. He believed that a business's two basic functions are “marketing and innovation”, and that all other functions are costs.
Drucker was great. He cut to the core of things. (His definition is similar to LEAN MANUFACTURING, which I simply see as spiritual principles applied to work – for another time).
While he is of course, technically correct, it provides no moral compass, and I would argue, opens things up for the manipulation of people.
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As the current world has fallen apart, there is a section of society that has increasingly been hostile to business and companies. There is a socialist / communist vibe infecting the world. It’s like “business” is a dirty word.
So what is a new definition of business that works?
Ever since my first real “corporate job”, I started to believe that the purpose of business was to “grow people”. To grow their customers, partners, and to grow staff. Which still holds true, but still lacks some meat and is very subjective.
So here is my updated definition of business…
“Business is, to stand in integrity, and deliver transformation to people, where you get paid full value, and everyone is happy at the end of the transaction. “
And to do that, per unit time, is the growth function.
Standing in integrity, is about not lying to anybody, especially yourself. So you can be a drug dealer, and be clear about it, and that is fine. But will everyone be happy at the end? If the drugs are good, and everyone knows what they are getting, the implications, and the price offers value? Yes, it fits the definition of business.
30 years ago selling cigarettes and hiding the implications, was not in integrity. Today, it is pretty clear. And people choose. So yes, it fits the definition.
So for me, this is really about radical self-responsibility on the business side, and on the consumer side.
The key to it is: radical self-responsibility.
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This definition enables value to flow where it is needed, it drives people to look in the mirror at themselves and what they do, still enables rewards and drives innovation, and encourages people to get into business without any of the modern, socialist oriented, “shame and guilt” for aspiration, individuation, and service to life (make money).
And who knows…
maybe it will drive a new set of outcomes globally.
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Thank you for your time, and please share with anyone you think might find this valuable, and feel free to challenge and improve if you disagree.
Robert De Pinto
Author, Life Beyond Thinking,
A visual guide to spiritual recovery, the secret to unlocking humanity’s potential.
A related article:
What the science of a tree can teach us about purpose. here
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