Values drive economic decisions. A new video by Umair Haque on HBR.org suggests that values-driven decisions are at the root of the current economic crisis.
Quite simply, our values overemphasized the wrong things. As a result, we were driven to invest capital and resources in things with negative impacts, e.g. industries that fail to create substantial benefits but create serious ills.
This means that a change in values is needed if we are to make decisions that will help shape a positive future. Specifically, Haque proposes that the following values need to be emphasized as we make economic decisions:
- Future
- Natural world
- Each other
- Our own well-being
Do the economic decisions you make every day contribute to these essential values? To what extent are the decisions your company makes guided by these values? Is there a serious conversation in your company about the values driving decisions – and about the importance of values such as these? And if not, what can you do in your sphere of influence to stimulate the conversation?
