leadership | March 12, 2013

Drew Dudley & Business Insider Agree: Maximize Value—Not Profit [VIDEO]

Leadership speaker Drew Dudley has a new mantra for corporations—and Business Insider magazine agrees with him. "In order to to restore our economy and society to health, we need a new corporate mission in America. We need to stop maximizing profit and start maximizing value," a recent article in the magazine reads. This echoes what Dudley discussed in a keynote speech recently. In the talk (check it out above!) Dudley explains that profit will naturally follow if you add value to every task you perform. Focusing on finding fulfillment in your work and producing quality outputs not only helps you generate profit, it also allows you to achieve your personal goals. When you focus on value creation, you are more likely to succeed, whereas the success of profit-driven goals fluctuates.

In Business Insider, they explain that despite experiencing some of the highest profit margins in history, a strict adherence to bottom-line focused policies has created other residual problems for businesses. Employees, customers, and society as a whole suffer from the decision to maximize profits. Workers get paid less, customer satisfaction falls, and the economy as a whole starts to slow down. But, as the article suggests, if you start to put higher value on the work done by your employees, it creates a positive ripple effect. Workers become happier and more invested in their work, the work becomes better and the customers are happier. This leads to more money being invested into American companies by the consumers, which drives the economy and increases shareholder values. As Dudley argues, shifting the focus away from profits and towards creating value—whether it's valuing the work you do personally, or the work your employees do—is a win-win.