The objective of this publication is to share an analysis that generates participation and constructive reflection, especially by those who run and are responsible for for-profit companies
Undoubtedly, the appearance of the Covid-19 has generated deep reflections by the entire humanity. The confinement, in several countries, has forced to question what was considered until now normal and to try to predict and rethink what the immediate and distant future will be like, once this pandemic is overcome. The daily statistics record the infected and deceased people, but they also generate very worrying figures about the consequences on the economy and on the companies affected.
Now with the gradual reopening, it is pertinent to highlight that the global context of the last decades has been increasing the demands of for-profit companies to participate and compete successfully. Given this situation, to overcome this global requirement, companies could define a comprehensive strategy, based on their expectation of profitability, which allows them to set their own objectives and, in turn, satisfy the greater demands of their stakeholders. In this way, they would seek to survive, grow and project themselves with clearer criteria.
Such a strategy should encompass three interdependent dimensions based on profitability:
– Financial profitability: To benefit the owners or shareholders, remunerate their employees, generate taxes for the State, and fulfill their commitments to suppliers and creditors.
– Social profitability: To responsibly satisfy the needs of customers and consumers, always showing respect for their competitors.
– Environmental profitability: To compensate or correct the environmental costs or damages generated by your business.
That is, if companies charted their path and aspired to be profitable in these three dimensions at the same time, they could show their commitment to society and the planet and, likewise, they could be more sustainable and viable.
Author: FÉLIX DAVID LOZANO.
MBA with studies in international business, finance, and marketing. Consultant, professor, and lecturer with experience in the state and business sector.
