Remove Consensus Remove Ethics Remove Loyalty Remove Operations
article thumbnail

Why Mission Statements Fail

LDRLB

We know purpose-driven companies have a lower cost of customer acquisition, longer tenure of customer loyalty, and higher net promoter scores. Eventually, usually when people get tired, everyone starts to compromise for the sake of consensus, and they arrive at a statement everyone agrees on…or at least everyone agrees is good enough.

article thumbnail

Why Mission Statements Fail

LDRLB

We know purpose-driven companies have a lower cost of customer acquisition, longer tenure of customer loyalty, and higher net promoter scores. Eventually, usually when people get tired, everyone starts to compromise for the sake of consensus, and they arrive at a statement everyone agrees on…or at least everyone agrees is good enough.

article thumbnail

People Think Companies Can’t Do Good and Make Money. Can Companies Prove Them Wrong?

Harvard Business Review

Even in one of the most market-oriented societies in human history, it appears very difficult to make most people appreciate that ethical and profitable business practices do not fundamentally conflict. Doing so entails operating more efficiently or innovating to create products that consumers value more. Our research.