On Radio 4's Thought for the Day on Friday, Lord Harries quoted the mission statement of what he referred to simply as 'an American company': "The business of business is serving society, not just making money. Profit is our reward for serving society well. Indeed, profit is a means and measure of our service—not an end in itself." What an astoundingly Good (with a capital G) and, well honestly, unlikely corporate motto.
After a bit of digging on Google, I'm not surprised that he was a little coy about who this 'American company' was. It was Dayton's, founded in 1902. In 1969 it merged with the J L Hudson Corporation to form the Dayton Hudson Corporation. In 2000 it took on the name of its discount retail arm, Target. So, the mission statement of Target now is: "To make Target the preferred shopping destination for our guests by delivering outstanding value, continuous innovation and an exceptional guest experience by consistently fulfilling our Expect More. Pay Less.® brand promise."
Not so compelling. Not so memorable. Not so distinctive. And, OK, not so Good. But they do go on, "To support our mission, we are guided by our commitments to great value, the community, diversity and the environment." So not so bad either.
Some companies set up at the turn of the century by philanthropist businessmen do seem to have the potential for retaining a set of values that distinguish them from other, less great, companies. The over-quoted (and now hijacked by the likes of Nick Clegg) John Lewis Partnership's mission is actually spot on. It is so refreshing to see an organisation who maintains its value-led philosophy, "The John Lewis Partnership's seven principles define how we run our business. They are as relevant today as they were when they were set out by our founder, John Spedan Lewis, in our constitution."
The first of those principles is Purpose: "The Partnership's ultimate purpose is the happiness of all its members, through their worthwhile and satisfying employment in a successful business. Because the Partnership is owned in trust for its members, they share the responsibilities of ownership as well as its rewards profit, knowledge and power."
The first of those principles is Purpose: "The Partnership's ultimate purpose is the happiness of all its members, through their worthwhile and satisfying employment in a successful business. Because the Partnership is owned in trust for its members, they share the responsibilities of ownership as well as its rewards profit, knowledge and power."
In the current turmoil of bonuses, incentives and salaries maybe we should all dwell on the idea of finding happiness through service. And hold dear family, friendship and good neighbourliness.
