A few weeks ago I was criticized for writing the article "To All Fellow Employers" also found on this blog. I heard everything from "you aren't thinking about your investors" all the way to "a business's prime objective is to make money."
I could not disagree more.
In my opinion, a business's prime objective is to produce the very best product possible regardless of cost. Let the product's quality sell the product; its price should not be a factor as long as it is a fair price, be it high or low.
I believe that a company should think of making money to be sure, but only after everything else is factored into the equation. Your primary responsibility as CEO, founder or whatever high n' mighty position is to provide your consumers with the highest quality product that you possibly can. It sure as hell isn't shooting your best on the back nine. Since when should a CEO get paid for playing golf? That isn't working, that is vacationing.
Leave golf to Tiger Woods.
It seems as though every time I start ranting on about a business's prime objective I get hit with the "what about cutting costs for the consumers" question.
I don't think a company should ever cut corners.
Why?
It simply isn't honorable. That's why.
Once you fall into the cost-cutting trap, you'll never crawl out of it. Your products' quality will plummet like a brick thrown off the top of the Empire State Building. Once you lose your good name there is no getting it back.
I feel companies should spend lots of money on R&D for cutting edge manufacturing processes that allow you to build at lower costs while keeping 110% of your products' quality. Just don't sacrifice quality for the almighty dollar.
Why?
Because what you really do is sacrifice your dignity and honor for money.
I fully believe that a company's product is a direct reflection of what kind of man their CEO is. Perhaps the CEO should cut his salary to cut costs. Generally speaking, CEOs are the most worthless employees at the business. A man who plays golf every other day during business hours certainly doesn't need to make 5 million a year…
Does he?
-Law
