Friday, October 8, 2010

For an inclusive business growth

Bottom of the pyramid, you may know as where potential profits could reside. Perhaps it is also time to get introduced to ‘Profit at the Bottom of the Ladder,’ the title of a new book from Harvard by Jody Heymann. The book takes up three questions: Are there additional ways to increase a company’s success? Can there be profits in the private sector while bringing benefits to others? Is there a way for the company and its employees to succeed together?

The answer to these questions comes in the form of success stories of companies from around the world; companies which have been profitable for their owners and shareholders not only while being profitable for their employees, but because they have been profitable for their employees.

These firms have been able to do this for a simple reason, the author explains. How work is structured, how it is rewarded, and how workplaces encourage employee engagement are all central to the profitability of firms and to the quality of the daily lives of working men and women, she adds. “Employees determine 90 per cent of most businesses’ profitability.”

Full review here Hindu

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