@BdAfrica

BOOMSMA: Thinking that will assess business beyond profits - 11 months ago, 25 Apr 21:31

Karin Boomsma

For the longest time, businesses were primarily about profits and little else. Naturally, profit was the best indicator that the business was on the right track.

Once in a while, however, the business went out to the community to engage in some social ‘good’, what has come to be known as corporate social responsibility (CSR).

The problem with CSR is that it wasn’t intrinsic in the business DNA. It was done primarily to make the business look good.

Thankfully, the model of “profit at all costs” is changing in many parts of the world and Kenya has not been left behind.

Don’t get it twisted. Profits remain key. Every business must make profit to stay in the market in the long run. But there are two other Ps whose impact may not be very obvious, particularly in the short to medium term.

But if mishandled, no business can survive in the very ...
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