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While the MBA-think might be too focused on profit maximization, on the other side of that coin there’s a flawed, perhaps romantic notion that a business with m
by dangus 3y ago
While the MBA-think might be too focused on profit maximization, on the other side of that coin there’s a flawed, perhaps romantic notion that a business with more modest ambitious always has the right and/or ability to survive. In reality, all businesses are a part of a constantly evolving environment that isn’t always kind to stagnation and inefficiency.
Businesses aren’t insulated from exterior forces like competitors. If you aren’t squeezing for pennies and your competitors are, they’re going to be offering your same solution at a better price.
- bruce511 3y agoAny small business owner will tell you its always a fight to survive, much less grow. There's no right to survive and most don't. But they survive by focusing on more they just profit. They survive by understanding long-term value over short-term profit. They embed into a community. They treat employees well, they treat customers well, they care about environment (inside and outside), fairness and do on. The stereotypical "MBA" gets a hard time because they only care about short-term profit. This quarter results. They sell the soul of the business and all they get is money. They refusecs refund, but lose a customer forever. Of course this is a caricature, and most MBAs - certainly the good ones - know where to press, but at the same time understand that the business needs balance. That being around next year is more important than this months targets.