Today’s business leaders tend to focus on profit and perfection, at the expense of everything else. Hubert Joly, the former CEO of Best Buy, thinks that this mentality is poisonous. To thrive, a company has to care about more than profit.
Joly says that the key to success is to have a noble purpose at the heart of the business. At Best Buy, he made that purpose to make people’s lives easier with tech. He also worked hard on employee and customer relations. A leader’s plans should always be generated from listening to the needs and feedback of all stakeholders.
This approach certainly worked for Joly, who tripled the value of the stock of the company during his tenure. To learn more about building a better work environment, check out our Instaread on his popular book The Heart of Business.