In business, if you realize you've made a bad decision, you change it.
Richard BransonRead
Participant (Productions) is the only production company in town that has a double bottom line: social good plus financial returns. It's too early to tell how our returns are going to look - though all signs are promising - but social good is what we're really after.
Interpretation
This quote emphasizes the balance between achieving financial success and making a positive social impact.
Jeffrey Skoll highlights the unique approach of Participant Productions, where the goal isn't just to generate profits but also to contribute positively to society. He acknowledges the uncertainty of financial outcomes but stresses the importance of prioritizing social good in their mission, reflecting a commitment to ethical business practices.
In practice
This quote can be used in a business presentation to illustrate the importance of corporate social responsibility.
In business, if you realize you've made a bad decision, you change it.
When you start a company, it's a singular focus. You have the wind at your back.
In a marketplace where it's so easy to produce products, where your competitors can essentially match you on the product itself, you need to have something else. You need to have an added value, and that added value is the identity, the idea behind your brand.
As a multisport athlete, I was always fascinated with competition and how to win. At HBS and later at the Harvard Department of Economics, I was drawn to the field of competition and strategy because it tackles perhaps the most basic question in both business management and industrial economics: What determines corporate performance?
There is only one winning strategy. It is to carefully define the target market and direct a superior offering to that target market.
Starbucks is not an advertiser; people think we are a great marketing company, but in fact we spend very little money on marketing and more money on training our people than advertising.
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