No said Dave Packard - They exist to create profits no doubt - but not just to create profit - but for cause that is beyond creating profits - to give the people who work in that a company a sense of self esteem, to make good products that consumers like and so that the company is a good citizen in the community. - Not exactly in the same words, but in many ways clearly implied in the words he chose. And when said that at a conference of other companies - not a single CEO took him seriously then. But I guess he knew what he was talking about.
I wonder why most CEOs and managers keep forgetting that a company exists for reasons beyond making a profit. and why the still worry about earnings calls. and why they worry about analysts. and why they worry only about quarterly reports only. The most successful ones are the those who dont fall in this trap.
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