Chapter
Principles of Human Flourishing in Business for Good Profit
37:43 - 47:50 (10:07)
Creating value for all constituencies, particularly those who reward a business for the value it creates for them, is the key to sustained wealth without the negative societal repercussions of cronyism and protectionism. This is the concept of good profit.
Clips
The key to success in business is understanding the capabilities you possess that are valuable to others and continually improving and adding to those capabilities.
37:43 - 40:22 (02:39)
Summary
The key to success in business is understanding the capabilities you possess that are valuable to others and continually improving and adding to those capabilities. By maximizing the value you create for others, your profits will come as compensation.
ChapterPrinciples of Human Flourishing in Business for Good Profit
Episode#381: Charles Koch — CEO of Koch Industries
PodcastThe Tim Ferriss Show
This podcast discusses defining good profit as creating value for customers, society, and partners through principles of human flourishing, and how a focus on creating value for all constituencies has been the key to success.
40:22 - 45:32 (05:10)
Summary
This podcast discusses defining good profit as creating value for customers, society, and partners through principles of human flourishing, and how a focus on creating value for all constituencies has been the key to success.
ChapterPrinciples of Human Flourishing in Business for Good Profit
Episode#381: Charles Koch — CEO of Koch Industries
PodcastThe Tim Ferriss Show
To ensure long-term acceptance of wealthy individuals and businesses, it is crucial that they contribute to improving society rather than making it worse through cronyism and protectionism.
45:32 - 47:50 (02:18)
Summary
To ensure long-term acceptance of wealthy individuals and businesses, it is crucial that they contribute to improving society rather than making it worse through cronyism and protectionism.