Seventy years ago, in the Third World nation of Venezuela, when other business leaders were still happily making their fortunes on the backs and graves of their workers, one company decided to do things differently.
Today, Polar is Venezuela's most-beloved brand. Its young CEO, scion of the company's founder, is one of Latin America's wealthiest men. He's still running his company according to the forward-thinking principals of his forebears. And that may be the only thing that saves his company from a government takeover.
Read and listen to the story on the struggle to nationalize this remarkable firm (link below). As you do, think about the bedrock principles of Capitalism done right, aka Twenty-First Century Business:
* Doing the right thing pays. Literally.
* Enlightened Self-Interest isn't just nice; it can save your company.
* Sow goodwill with your entire workforce and customer base in the good times, so they have your back in times of crisis.
* Do the right thing because it's the right thing to do. If that alienates some potential investors, you'll be better off without them anyway.
Here's the story. If you like what I have to say in this blog, you're going to love what is happening right now in Socialist Venezuela. http://www.npr.org/templates/story/story.php?storyId=128695640
By the way: let's not draw American politics into this discussion, shall we? I don't even want to go there. Let's just thank our ancestors that our country isn't as dysfunctional as Venezuela is right now.
Hi Ted,
ReplyDeleteYou've nailed it. "Do the right thing because it's the right thing to do." When a company puts people, ethics and morality before the bottom line, the bottom line usually takes care of itself.
Unfortunately this is not always the case. Some companies operate with such profit-driven focus they lose sight of the big picture. This approach may even bring them success and the ability to crush other businesses who simply want to be in business while maintaining their values and commitment to do the right thing.
It's time consumers start giving their attention, business and loyalty to companies willing to stand up for what's right. It's time employees raise their voices when they experience or witness injustice within their company (although that may be a risk that carries many consequences). It's definitely time to stand together and demand consumers and employees benefit along with the company rather than become pawns in a game they didn't agree to play.
Kudos to you for tackling this subject. What an excellent example you cited with Polar in Venezuela.
Thank you for your wisdom,
Jen
What a great example of the power of doing the right thing. Whenever one group's self interests are served at the expense of others, no matter how strong it looks on paper, the system is fragile.
ReplyDeleteIf only all business leaders, politicians and others in positions of power and leadership could adopt this philosophy. I can't even remember the last time I heard of someone doing the right thing just because it was the right thing. Good for you for promoting the idea.
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ReplyDeleteIts a good example of doing what is right. This would come within reach of success and simply the best ingredient. Thanks for posting, its a big help for us.
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