The following blog post was written by Eric Vander Drift, Managing Partner of MPACT Financial Group, a proud partner of Compassionate DFW. 

 

Is Compassion Good for Business? 

How does one define “greatness” in business?  There are many measures.  Many of us have read “Good to Great” by Jim Collins.  The good-to-great companies generated cumulative stock returns that beat the general stock market by an average of seven times in fifteen years, better than twice the results delivered by a composite index of the world’s greatest companies.  Bottom line, greatness is generally measured by performance and profitability.  

There should be a purpose beyond profit.  A good business should have passion.  A great business should have compassion.

The compassion of a business can create value, elevate our existence, empower servant leadership, and help contribute to meeting our needs as a society.

Embedded within our corporate culture must be core beliefs which recognize we have significance over and above profitability.

We can’t be perfect in the day to day operations of a business, but to be beyond great, we must be flawless in the execution of certain character traits.  Compassion takes character. We have found within our company; these traits are important to embed into our corporate culture:

  • Integrity
  • Honesty
  • More than Fair
  • Responsibility
  • Intentionality; and
  • Purpose driven action

“We believe that business is good because it creates value, it is ethical because it is based on voluntary exchange, it is noble because it can elevate our existence, and it is heroic because it lifts people out of poverty and creates prosperity”. This is from the Conscious Capitalism Credo.

A business does not need character traits to be profitable, but does need them to be compassionate.  Truly great companies should aspire to be both profitable and compassionate.    

Eric VanderDrift

Managing Partner, MPACT Financial Group

12222 Merit Drive, Suite 1180

Dallas, TX 75251

972.726.5900

 

*Securities and advisory services offered through Commonwealth Financial Network, Member FINRA/SIPC, a Registered Investment Adviser. Fixed Insurance products and services offered through MPACT Financial & Insurance Services or CES Insurance Agency.