In the modern world, the concept of entrepreneurship is often equated with the pursuit of profit and economic growth. However, one emerging approach, which is also our proposal, is that of human-centered business development, which places people at the core of business activities. This approach recognizes that the true success of a business cannot be measured solely in terms of profit but also by its impact on human well-being and development.
Human-centered entrepreneurship is not just an alternative approach but a necessity in today’s world. In a time when consumers are becoming increasingly conscious, businesses are called to adapt and adopt practices that prioritize people.
Products and Services Focused on People
In this context, businesses with such a focus choose to produce high-quality products that are safe and functional, having previously worked on and studied consumer needs. Additionally, they focus on creating products based on improved user experience and durability. For example, a company with a human-centered orientation would not opt to produce a cheap product, often a knockoff of a well-known brand, just to achieve short-term profit.
The same applies to the provision of services. For instance, a construction company with a human-centered approach would choose to design spacious apartments that allow residents to live comfortably.
Instead of reducing square footage to increase the number of apartments, they would emphasize quality materials and ensure natural lighting and ventilation, creating a healthy and pleasant living environment. Furthermore, they would provide common areas such as gardens and playgrounds, promoting social interaction and the well-being of residents.
Naturally, every such choice results in an inevitable increase in the production cost of the respective product or the cost of providing a service. However, this is the essence of human-centered business development. Such companies choose to absorb the increase in costs, temporarily sacrificing part of their profits to ensure the success of the venture. Essentially, they shape a product or service respecting people's needs, aspirations, and rights, while also making them financially accessible to society as a whole. Therefore, products and services from businesses that adopt a human-centered approach are not necessarily of higher cost to the customer.
Sustainability of Human-Centered Development
As already mentioned, companies that choose to operate with a focus on human well-being face reduced revenues due to absorbing the additional costs. At the same time, a human-centered orientation clearly discourages any customer whose "wants" do not align with the basic principles on which the company operates. For example, there are small chances that a customer will turn to a construction company that proposes and supports horizontal building for the construction of a skyscraper. This means the company targets a portion, not the entire market.
However, these losses are temporary. In the long term, such companies will minimize "losses" of customers, which will ultimately lead to the return on such an investment.
Moreover, with the increasing shift of consumers toward human-centered products, the turnover of such businesses will rise, offsetting the small profit margins. In reality, stable bonds will be created with the clientele, based on mutual trust. Ultimately, a cycle of mutual benefit will emerge, where the success of the business aligns with the well-being of people.
Social Responsibility
The human-centered approach to business development is based on deeply rooted ethics and social responsibility. Businesses adopting this approach recognize that they have a responsibility toward their customers, employees, and the broader society. This means they must make decisions that promote human well-being, even if this entails a reduction in short-term profits.
This approach can be adopted through transparency in business practices, the promotion of equality and inclusion, and the support of sustainable practices that protect the environment and society.
In fact, this way of operating a company is the result of a clear and strong belief in respecting human beings and human rights. The right of a person to access public goods, healthcare, and safety. Rights that every company, through its sector of activity, can safeguard.
Human-centered business development offers a new path for businesses that aim to be not only profitable but also socially responsible and ethically just. By prioritizing the well-being of customers and society, businesses can create long-term value that transcends financial profits, fostering a culture of mutual respect and prosperity. This path is not only ethically right but also strategically smart, as consumers increasingly prefer to support businesses that share their values, which will progressively increase the business's turnover.
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Human-Centered Business Development
19 July 2024
In the modern world, the concept of entrepreneurship is often equated with the pursuit of profit and economic growth. However, one emerging approach, which is also our proposal, is that of human-centered business development, which places people at the core of business activities. This approach recognizes that the true success of a business cannot be measured solely in terms of profit but also by its impact on human well-being and development.
Human-centered entrepreneurship is not just an alternative approach but a necessity in today’s world. In a time when consumers are becoming increasingly conscious, businesses are called to adapt and adopt practices that prioritize people.
Products and Services Focused on People
In this context, businesses with such a focus choose to produce high-quality products that are safe and functional, having previously worked on and studied consumer needs. Additionally, they focus on creating products based on improved user experience and durability. For example, a company with a human-centered orientation would not opt to produce a cheap product, often a knockoff of a well-known brand, just to achieve short-term profit.
The same applies to the provision of services. For instance, a construction company with a human-centered approach would choose to design spacious apartments that allow residents to live comfortably.
Instead of reducing square footage to increase the number of apartments, they would emphasize quality materials and ensure natural lighting and ventilation, creating a healthy and pleasant living environment. Furthermore, they would provide common areas such as gardens and playgrounds, promoting social interaction and the well-being of residents.
Naturally, every such choice results in an inevitable increase in the production cost of the respective product or the cost of providing a service. However, this is the essence of human-centered business development. Such companies choose to absorb the increase in costs, temporarily sacrificing part of their profits to ensure the success of the venture. Essentially, they shape a product or service respecting people's needs, aspirations, and rights, while also making them financially accessible to society as a whole. Therefore, products and services from businesses that adopt a human-centered approach are not necessarily of higher cost to the customer.
Sustainability of Human-Centered Development
As already mentioned, companies that choose to operate with a focus on human well-being face reduced revenues due to absorbing the additional costs. At the same time, a human-centered orientation clearly discourages any customer whose "wants" do not align with the basic principles on which the company operates. For example, there are small chances that a customer will turn to a construction company that proposes and supports horizontal building for the construction of a skyscraper. This means the company targets a portion, not the entire market.
However, these losses are temporary. In the long term, such companies will minimize "losses" of customers, which will ultimately lead to the return on such an investment.
Moreover, with the increasing shift of consumers toward human-centered products, the turnover of such businesses will rise, offsetting the small profit margins. In reality, stable bonds will be created with the clientele, based on mutual trust. Ultimately, a cycle of mutual benefit will emerge, where the success of the business aligns with the well-being of people.
Social Responsibility
The human-centered approach to business development is based on deeply rooted ethics and social responsibility. Businesses adopting this approach recognize that they have a responsibility toward their customers, employees, and the broader society. This means they must make decisions that promote human well-being, even if this entails a reduction in short-term profits.
This approach can be adopted through transparency in business practices, the promotion of equality and inclusion, and the support of sustainable practices that protect the environment and society.
In fact, this way of operating a company is the result of a clear and strong belief in respecting human beings and human rights. The right of a person to access public goods, healthcare, and safety. Rights that every company, through its sector of activity, can safeguard.
Human-centered business development offers a new path for businesses that aim to be not only profitable but also socially responsible and ethically just. By prioritizing the well-being of customers and society, businesses can create long-term value that transcends financial profits, fostering a culture of mutual respect and prosperity. This path is not only ethically right but also strategically smart, as consumers increasingly prefer to support businesses that share their values, which will progressively increase the business's turnover.
