Reading 7: Rethinking the Purpose of Business & Leadership

1. Do you think the primary purpose of business should be maximizing shareholder profit, or creating value for multiple stakeholders? Explain your reasoning.

I firmly believe that businesses should seek to create value for multiple stakeholders, not just maximize profits. The reading explains that businesses operate within a broader social and ecological systems. This means that business decisions impact employees, communities, and the environment. By focusing solely on maximizing profit businesses tend ignore the broader impacts of their operations. Profit is still important as it ensures that the company is viable and can continue its operations however it shouldn't be the only factor that is considered.

2. Do you think purpose-led business is becoming a necessity rather than a choice? Why or why not?

This reading shows us that ESG reporting, government regulations, and changing consumer expectations are pushing businesses to consider their social and environmental impact. So, my answer is yes, purpose-led business is becoming more of a necessity which I believe is a good thing. In today's business environment, this approach is no longer a simple marketing tactic but a necessity to remain competitive. Companies that don't adapt to these changes may seize to exist as they would lose out to their competitors.

3. Which of the three styles—giver, matcher, or taker—do you most identify with? How has this influenced your relationships and outcomes?

I feel that I mostly identify with the "matcher" style. I've always believed in the concept of "give respect to get respect" and I think that belief translates in this situation. As a matcher you give something and receive equally. In my personal and professional life, this approach has helped me build and maintain long-term relationships as neither party feels like they are been taken advantage of.

However, I also resonate with some values of a "giver" mindset. I believe that by supporting others, especially in a team setting, can improve overall outcome and strengthen team spirit.

4. As a future leader, how might you apply a giving approach while maintaining boundaries?

 As a leader it is important to support your team, share your knowledge and experiences. and create healthy work environment. At the same time, it is important to establish clear boundaries otherwise I might end up doing all the work. A giver mindset could potentially lead to burnout therefore it is important to prioritize tasks, set clear limits, and ensure my personal well being.