Thought leader and Positive Organization scholar Bob Quinn explains his research on why and how having higher purpose (beyond profit) engages employees to act like “owners” and thus creates a competitive advantage for organizations. #ConsciousCapitalism
For years I have worked with an accomplished economist named Anjan Thakor. Once we were talking about an experience I had running a positive organization. I described a culture focused around a higher purpose. As the people pursued the higher purpose, they were fully engaged and unified in authentic relationships. They had a sense of contribution, positivity and growth. The organization performed at a high level.
As I shared the story, Anjan told me I was making claims that violated the conventional assumptions of economics. Economics suggests that wealth is created by a single minded focus on shareholder value or wealth maximization. There is no place for higher purpose in the logic of value creation. You must choose one or the other.
Our discussion eventually grew into a research project. We built a mathematical model of an organization. The model was comprised of principals and agents engaged in conventional relationships…
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