Deepak Singh Kaira’s Post

The purpose of business is not to make profit. Do business endeavors need to maintain profitability to function and continue operating? Absolutely. But money as a purpose?? How utterly bizarre to think that any true meaning can be found solely in the pursuit of dollars for the sake of having... more dollars. Could there be anything hollower? Think about it for a minute. The purpose of being a doctor is to care for and heal patients; to make people better. The purpose of an engineer is to create designs that improve life and society, whether through enhanced safety or highly functional solutions. The purpose of an artist is evoke thought and emotion, to explore the human condition, even to make political statements and social commentary. Do engineers, doctors, and artist make money from their pursuits? Absolutely. But it's certainly not their purpose. They create value. Yet, the mental framework that many businesses operate within puts profits at the forefront when making decisions. And because we act to meet the metrics though which we are measured, profits somehow have taken priority; financial results have become poor alternative for purpose in many organizations. In just a couple of weeks, I'll ask my students this question. "What is the purpose of business?". Without a doubt, I will get multiple versions of, "to make money". Then we unpack that. And it is always the beginning of a fantastically rich and messy conversation. Purpose is your why. And (I believe) that real purpose in business can be found by: - creating value for others - developing innovative products and services and improve lives - serving communities & society beyond the profit & loss statement It’s not an exhaustive list by any means. But it opens up doors to explore that aren't stunned by a profit-centric approach. To change the frame, we need to put people first. People who pursue value creation, think differently and creatively, and see the impact that successful businesses can have on the internal communities and external environments. "For those brought up in a profit-centric model, where the purpose of a business is to ‘make money’ (spoiler alert – it’s not), a people-first approach can run counter to their mental model. Yet, the case for it as both a strategic and ethical approach is strong, embracing both the intentions of hospitality and its successful execution." Money is not a purpose; it is simply a resource. Profit is an outcome, and a critical one for sure. But profit is not purpose. I'm planting a flag on this hill. I have for a while now. I'm curious though - what's your position on this? What is your "purpose" and how do you enact is successfully in your business operation?

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