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We've now become conscious of the uncalculated social, economic, and environmental costs of that kind of "unconscious" capitalism. And many are beginning to practice a form of "conscious capitalism," which involves integrity and higher standards, and in which companies are responsible not just to shareholders, but also to employees, consumers, suppliers, and communities. Some call it "stakeholder capitalism."
"...piling up zeros in your bank account, or cars in your driveway, won't in and of itself make you successful. Rather, true success is based on a constant flow of giving and recieving. In fact, if you look up affluence in the dictionary, you'll see its root is a Latin phrase meaning "to flow with abundance". So in order to be truly affluent, you must always let what you have recieved flow back into the world."
We're starting with our own carbon footprint. Not nothing. But much of what we're doing is already, or soon will be, little more than the standard way of doing business. We can do something that's unique, different from just any other company. We can set an example, and we can reach our audiences. Our audience's carbon footprint is 10,000 times bigger than ours... That's the carbon footprint we want to conquer.
Indeed, if I understand this global-warming business correctly, the danger is that the waters will rise and drown the whole of Massachusetts, New York City, Long Island, the California coast and a few big cities on the Great Lakes - in other words, every Democratic enclave will be wiped out leaving only the solid Republican heartland. Politically speaking, for conservatives there's no downside to global warming.
You can be entrepreneurial even if you don’t want to be in business. You can be a social entrepreneur focused on the not-for-profit sector. You can be an agriculture entrepreneur if you want to change how people think about farming. You can be a policy entrepreneur if you want to go into government. The idea of an entrepreneur is really thinking out of the box and taking risks and stepping up to major challenges.
A campaign, like a brand, is not just a number of bits put together - a claim here, a pack shot there, a reason why somewhere else. If we try to produce it by the atomistic approach, we will end up with a sort of Identikit brand. It will be a perfect description of the structure of the brand, as the Identikit can describe the contours of the face. But it won't be the same thing. The brand will never come to life.
The greatest challenge to organizations is the balance between continuity and change. You need both. At different times, the balance is slightly more over here, or slightly more over there, but you need both. And balance is basically the greatest task in leadership. Organizations have to have continuity, and yet if there is not enough new challenge, not enough change, they become empty bureaucracies, awfully fast.
...one of the most inventive forms of creative capitalism involves someone we all know very well. A few years ago, I was sitting in a bar here in Davos with Bono. Late at night, after a few drinks, he was on fire, talking about how we could get a percentage of each purchase from civic-minded companies to help change the world. He kept calling people, waking them up, and handing me the phone to show me the interest.
Elections are a kind of business. I have to present myself: 'I can do this and that for this area so please give me your vote'. People vote for the politicians who can best understand and contribute to their region or country. In a business you can choose your clients, and the message is targeted to them only. But politics is universal; no matter what age the audience, you have to send the same message to everyone.
Peter Drucker has pointed out that it is a manager's job to "do things right." It is an executive's job to make sure "the right things" get done. Even the most rigorous eco-efficient business paradigm does not challenge basic practices and methods: a shoe, building, factory, car, or shampoo can remain fundamentally ill-designed even as the materials and processes involved in its manufacture become more "efficient."
It is no limitation upon property rights or freedom of contract to require that when men receive from government the privilege of doing business under corporate form... they shall do so under absolutely truthful representations... Great corporations exist only because they were created and safeguarded by our institutions; and it is therefore our right and duty to see that they work in harmony with these institutions.
Of all the dispositions and habits which lead to political prosperity, religion and morality are indispensable supports. In vain would that man claim tribute to patriotism who should labor to subvert these great pillars of human happiness - these firmest props of the duties of men and citizens. . . . reason and experience both forbid us to expect that national morality can prevail in exclusion of religious principles.
As I see it, there are two great forces of human nature: self-interest, and caring for others. Capitalism harnesses self-interest in a helpful and sustainable way, but only on behalf of those who can pay. Government aid and philanthropy channel our caring for those who can't pay. But to provide rapid improvement for the poor we need a system that draws in innovators and businesses in a far better way than we do today.
Sure must be a great consolation to the poor people who lost their stock in the late crash to know that it has fallen in the hands of Mr. Rockefeller, who will take care of it and see that it has a good home and never be allowed to wander around unprotected again. There is one rule that works in every calamity. Be it pestilence, war or famine, the rich get richer and the poor get poorer. The poor even help arrange it.
If a thing is old, it is a sign that it was fit to live. Old families, old customs, old styles survive because they are fit to survive. The guarantee of continuity is quality. Submerge the good in a flood of the new, and good will come back to join the good which the new brings with it. Old-fashioned hospitality, old-fashioned politeness, old-fashioned honor in business had qualities of survival. These will come back.
Do what you love, but be damned sure it's profitable. If you do work you love, but it doesn't generate income, your business will fail. If you do work you hate, but it generates income, your health will fail... and your business along with it. If you can't do what you love and make it profitable, you've either got a hobby or a headache, not a sustainable business. Don't settle for anything less than passion and profit.
Until I came to IBM, I probably would have told you that culture was just one among several important elements in any organization's makeup and success - along with vision, strategy, marketing, financials, and the like... I came to see, in my time at IBM, that culture isn't just one aspect of the game, it is the game. In the end, an organization is nothing more than the collective capacity of its people to create value.
I run my company according to feminine principles, principles of caring, making intuitive decisions, not getting hung up on hierarchy or all those dreadfully boring business-school management ideas; having a sense of work as being part of your life, not separate from it; putting your labor where your love is; being responsible to the world in how you use your profits; recognizing the bottom line should stay at the bottom.
In my heart I know you didn't come here just for me, you came here because you believe in what this country can be. In the face of war, you believe there can be peace. In the face of despair, you believe there can be hope. In the face of a politics that's shut you out, that's told you to settle, that's divided us for too long, you believe we can be one people, reaching for what's possible, building that more perfect union.
The whole difficulty I think that that we're facing now is the question of who is going to ensure that corporations are accountable. The problem with leaving it to activists and non-governmental organizations-even with the tool of the Internet at their disposal-is that those organizations and those people don't have the legal right to compel corporations to disclose information, and that is something that governments can do.
When you get into this business you have to grow up quickly. But I wouldn't say I've lost any of my childhood, I've always been a mature child. My Mom says I've been like that since I was little kid. I make time for my friends and I make time for things that other kids do. This is a business and I knew what I was getting into. I make time for being a kid, but I also know when to put on my business hat and go for the business.
Companies, as they grow to become multi-billion-dollar entities, somehow lose their vision. They insert lots of layers of middle management between the people running the company and the people doing the work. They no longer have an inherent feel or a passion about the products. The creative people, who are the ones who care passionately, have to persuade five layers of management to do what they know is the right thing to do.
I won't close down a business of subnormal profitability merely to add a fraction of a point to our corporate returns. I also feel it inappropriate for even an exceptionally profitable company to fund an operation once it appears to have unending losses in prospect. Adam Smith would disagree with my first proposition and Karl Marx would disagree with my second; the middle ground is the only position that leaves me comfortable.
Having taught economics courses at private vocational schools and universities, I have always had a problem with GNP as a yardstick of prosperity. GNP is improved by increases in questionable activities such as consumption of cigarettes and the production of weapons. Moreover, a substantial increase in car accidents will favorably affect GNP because more funerals, hospital visits, car repairs, and new car purchases will result.
It's not about you, it's about the next person. The single best use of a business book is to help someone else. Sharing what you read, handing the book to a person who needs it... pushing those around you to get in sync and to take action-that's the main reason it's a book, not a video or a seminar. A book is a souvenir and a container and a motivator and an easily leveraged tool. Hoarding books makes them worth less, not more.
Detachment doesn't mean I'm trying less hard. It just means that fears and emotions that used to torment and paralyze me no longer have the same power over me. Getting to this point hasn't always been easy; it took me years to really learn to silence my mind. But as you move through your career and your life, you will have to learn that if you're not what you do, then what you do has no business keeping you entertained at night.
Enjoyment, on the other hand, is not always pleasant, and it can be very stressful at times. A mountain climber, for example, may be close to freezing, utterly exhausted, and in danger of falling into a bottomless crevasse, yet he wouldn't want to be anywhere else. Sipping a piña colada under a palm tree at the edge of the turquoise ocean is idyllic, but it just doesn't compare to the exhilaration he feels on the windswept ridge.
The pace at eBay was frantic and urgent. We knew that if we didn't move fast, somebody would come into the market and quash us. Participant doesn't make a lot of sense from a financial investment perspective, so it's unlikely that other people will be approaching the business in the same way. So you see less urgency; you see a thoroughness and willingness to spend extra time to get things right. Which I think is really important.
Ethics or simple honesty is the building blocks upon which our whole society is based, and business is a part of our society, and it's integral to the practice of being able to conduct business, that you have a set of honest standards. And it's much easier to do business with someone when you look them in the eye and say, "This is what we're going to do," and you understand what you each mean, and you can go away and get it done.
One of the things I have learned over 26 years in the business is that the most productive place to focus new business efforts on is current clients. Think about it you have the relationship, you have inside knowledge of the company, the people and often, the brand, so it's a much less diverting exercise. Simply put, the odds of getting a higher share with current clients is much better than getting in the front door with new ones.
I also like to use a sensational headline. Many people read blogs in aggregators, which generally show only the headline. So you have to give people a reason to click through. Blogs need to be real and personal. Reading it should be like hanging out with you. I play music for my readers. I show them videos I like. I tell them what I did over the weekend. And I tell them what is happening in the technology, Internet, and VC markets.
The Forgotten Man is delving away in patient industry, supporting his family, paying his taxes, casting his vote, supporting the church and the school, reading his newspaper, and cheering for the politician of his admiration, but he is the only one for whom there is no provision in the great scramble and the big divide. Such is the Forgotten Man. He works, he votes, generally he prays — but he always pays — yes, above all, he pays.
As a good Christian should consider every place as holy, because God is there, so he should look upon every part of his life as a matter of holiness, because it is offered unto God. The profession of a clergyman is a holy profession, because it is a ministration in holy things, an attendance at the alter. But worldly business is to be made holy unto the Lord, by being done as a service unto Him, and in conformity to His Divine will.
We need an honest bottom line. Today that bottom line is vastly subsidized. If anyone of us were paying the full cost of oil our bottom lines would be very different. If you internalize the cost of oil, look at the cost of the war in the Middle East or the cost of global warming for future generations, if you internalize those external costs and what you pay, that bottom line would look very different, what ever business you are in.
The 10 or 12 artists I have known really well all my life are at least as competitive as professional athletes. They may express it in slightly different terms, but you look at the Jackson Pollocks et al., and they are as interested in wall space in the galleries as Joe Montana is in the percentage of completed passes. So the notion that symphonic conducting, or stage play, or pure art, is not a competitive business is real bullshit.
Among us, I am happy to say, old age is honorable, and regarded as a blessing from the Lord. It is our duty to desire to live long upon the earth, that we may do as much good as we possibly can. I esteem it a great privilege to have the opportunity of living in mortality. The Lord has sent us here "for a wise and glorious purpose," and it should be our business to find out what that purpose is and then to order our lives accordingly.
That is the true genius of America, a faith in the simple dreams of its people, the insistence on small miracles. That we can say what we think, write what we think, without hearing a sudden knock on the door. That we can have an idea and start our own business without paying a bribe or hearing a sudden knock on the door. That we can participate in the political process without fear of retribution, and that our votes will be counted.
If we somehow put a value on species extinction and factor that into our costs that bottom line would look very different. IF we put any resource depletion into costs our bottom line would change. So what we have is a dishonest market that does not take into account all the costs when it establishes its prices. We need an honest marketplace before we can let the market work for sustainability rather than against it as it works today.
The more successful enterprises are the more they try to replicate, duplicate, codify what makes us great. And suddenly they're inward thinking. They're thinking how can we continue to do what we've done in the past without understanding that what made them successful is to take risks, to change and to adapt and to be responsive. And so in a sense success breeds its own failure. And I think it's true of a lot of successful businesses.
Those who are skilled in archery bend their bow only when they are preparing to use it; when they do not require it, they allow it to remain unbent, for otherwise it would remain unserviceable when the time for using it arrived. So it is with man. If he were to devote himself unceasingly to a dull round of business, without breaking the monotony by cheerful amusements, he would fall imperceptibly into idiocy, or be struck by paralysis
Investing intelligently in those of us who are marginalised means fewer people in jail, fewer homeless, fewer unemployed, fewer of us who are forlorn and depressed, fewer people addicted to things that drag us down... Because as we invest in those that do it tough, we will see more Australians taking pride in themselves, having realisable dreams and aspirations and making their own positive contribution to the world's greatest nation.
What a dead thing is a clock, with its ponderous embowelments of lead and brass, its pert or solemn dullness of communication, compared with the simple altar-like structure and silent heart-language of the old sundials! It stood as the garden god of Christian gardens. Why is it almost everywhere vanished? If its business-use be superseded by more elaborate inventions, its moral uses, its beauty, might have pleaded for its continuance.
The rushed existence into which industrialized, commercialized man has precipitated himself is actually a good example of an inexpedient development caused entirely by competition between members of the same species. Human beings of today are attacked by so-called manager diseases, high blood pressure, renal atrophy, gastric ulcers, and torturing neuroses: they succumb to barbarism because they have no more time for cultural interests.
Indecision is debilitating; it feeds upon itself; it is, one might almost say, habit-forming. Not only that, but it is contagious; it transmits itself to others. . . . Business is dependent upon action. It cannot go forward by hesitation. Those in executive positions must fortify themselves with facts and accept responsibility for decisions based upon them. Often greater risk is involved in postponement than in making a wrong decision.
Remarks such as 'great Australian', 'larger than life' are sometimes used where they are not appropriate. But in the case of Kerry Packer both of those descriptions are entirely appropriate. He was a great Australian, he was a larger than life character and in so many ways he left his mark on the Australian community over a very long career in business, particularly in the media and also that other great passion of his, Australian sport
Cities need old buildings so badly it is probably impossible for vigorous streets and districts to grow without them.... for really new ideas of any kind--no matter how ultimately profitable or otherwise successful some of them might prove to be--there is no leeway for such chancy trial, error and experimentation in the high-overhead economy of new construction. Old ideas can sometimes use new buildings. New ideas must use old buildings.
The pornography of violence of course far exceeds, in volume and general acceptance, sexual pornography, in this Puritan land of ours. Exploiting the apocalypse, selling the holocaust, is a pornography. For the ultimate selling job on ultimate violence one must read those works of fiction issued by our government as manuals of civil defense, in which you learn that there's nothing to be afraid of if you've stockpiled lots of dried fruit.
Some people would argue the other side: that the business of business is business, and companies should only be focused on profits. But in today's world, I don't think corporations can only be focused on profits, because they are inextricably linked with the communities that they serve. I do not believe you can be a leader in your industry without being a leader in your community. It's a fundamental shift in how you think about business.
Treasures in heaven are more permanent. They are more satisfying. There are only two reasons why we are not as successful as we would like to be in laying up earthly treasures. One is that we sometimes get into the wrong business; and the second reason is that even though we may be in the right business, we do not always work at it effectively. Interestingly enough, these are the same reasons why we fail in laying up treasures in heaven.
I don't believe in Gods and devils. I think it's man-made stories to try and help people understand where all this came from. They said 'Where did the world come from if there's no God', 'Where did life come from'. Just say 'I don't know'. Don't say some guy made a man and a woman. You have no business doing that, you know what I mean? And then He got mad and flooded the whole world; told Noah to build an arc. These are terrible stories.