Tag Archives : profit

Trust and confidence in employees greatly empower them, making them motivated to collectively bring the company to significant progress. In operational terms, this simply means endowing the people with measurable accountability of tasks. They are adults, after all. This mandated individual accountability brings about a sense of responsibility in each [...]

People feel better when they think they are getting a great bargain when they shop. Knowing this, some retailers mark up items above the traditional retail price and then offer a hefty discount. If they had simply discounted the normal retail price by a certain percent, the resulting ‘sale price’ would have been the same. Some retailers say that [...]

The concept of acceptable risk is not particularly easy to define. It is essentially a measure of the risk of harm, injury or disease arising from a chemical or process that will be tolerated by a person or group. Think China’s insistence to continue using coal-fired plants because the economy is said to be unable to afford non-coal power generation. Whether [...]

Milton Friedman wrote a critical article in the Sunday New York Times on September 13, 1970 that appears in virtually every collection of articles on corporate social responsibility (CSR). The article’s title is “The Social Responsibility of Business is to Increase its Profits.” Friedman’s message is thus: there is one and only one social responsibility [...]