Friday, May 11, 2007

HBSWK readers' respond: Is There Too Little "Know Why" In Business?

The purpose of business is creating wealth. It is the only "Know Why" for any business.
Affluence is the fifth dimension which entails all discovery, altruism, excellence and heroism. Any firm which restricts itself to any one of the components is not realizing its full potential.
"Know Why" is the primary driver to arrive at "Know How," but often that is missed as we get too much involved in the complexities of running a business. Organizations tend to stray from their objective in the absence of clear definition. And that definition is nothing beyond "Affluence" that is "Creating Wealth."
Adding abstract dimensions and definitions to "Know Why" may work at an individual level but for an organization we need a realistic definition that's easy to understand and follow.
Many may term it as a mean motive of an organization's existence minus all morals. On the contrary, if an organization has to be affluent and sustain creating wealth it cannot do away with morality. As already cited by Jim Heskett in his article, do we see Enron anymore?
In conclusion, "Know Why" is "Affluence" and for "Know How" I leave this choice to the organization.

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