The core mission of Business is to “create wealth” for:
- Financing the future and providing a suitable return on capital
- Providing customers with the best quality-price product
- Raising employees’ standard of living
- Helping suppliers to develop and grow
- Contributing to the sustained enhancement of the economic-social environment
The “creation of wealth” and its fair distribution is a long-term commitment whereby business earns the legitimacy to continue operating within a specific economic, social and political context. Thus, 21st century businesses turn Ideas into Earnings, as opposed to their 20th century counterparts, which turned Resources into Earnings. The Knowledge Society, with the technological and scientific advances it entails, will be able to call upon a number of instruments that would have hitherto been considered unthinkable.
Accordingly, we need to define the New Business that will create the 21st century’s economic model, replacing:
- Growth at all costs with Balanced Growth.
- Technology with the use of technology that is safe, eco-friendly, and an assurance of social stability.
- Profit replaced by the creation of wealth for the stakeholders.
- Top-down Management with Engaged Management.
- Financial efficiency with efficiency in the economy, in the human factor, and in business culture.
- The supposed loyalty to the firm with a commitment to shared projects.
In short, the aim will involve a profound reappraisal of “our Business Projects”, leading, without delegating, the definition of the vision, mission and values both individually and collectively; acquiring, maintaining and improving knowledge on the core aspects of each business (key variables), which may also be applied at household and personal level.
Within this context and if the mission of business is shared, as specified above, both employer and labour organisations should be expected to undertake an in-depth transformation of their roles.
Considering that the stakeholders involved in the creation of wealth and its fair distribution are the following: shareholders, employees, customers, suppliers and society at large, a proper definition of their roles is an immediate and complex priority, as it requires them to conduct a shared analysis, which is no easy matter, based on each one’s current circumstances.