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Sir Richard Branson. Branson suggest that with success comes responsibility. Explain what he means and give an example or two of businesses you know of that do this.

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Sir Richard Branson

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Branson suggest that with success comes responsibility. Explain what he means and give an example or two of businesses you know of that do this.

  • Financial well being is usually associated with success, and thus the ability to be financially socially responsible becomes even easier.
  • Also, with success, the successful person usually attains more recognition, thus it is important to set a good example for others of how people should act/conduct themselves.
  • Creating new jobs and/or setting up charitable organizations that get out and tackle some of the world’s seemingly intractable problems.
  • Examples: Google – provide a gym, healthy lunch options, massage therapy and an on site doctor for their employees to promote healthy living.
  • Irving – replanting trees that their pulp and paper mill cuts.

2. How does Branson suggest that entrepreneurs approach problems differently than the very people we expect to work at these problems, i.e. politicians and social workers?

  • Entrepreneurs have the experience of looking at a particular business problem and finding ways around it.
3 why do you think it is so important to branson that his employees treat others well
3. Why do you think it is so important to Branson that his employees treat others well?
  • Branson feels that businesses should not just be money making machines, but forces for good. To be good, you have to have good people that are treated well, and are generally happy. The employees will then take that sense of well being and transmit to others within the community.

4. How does Branson define a business, and how does that differ from what your preconceived notion of what a business is and does? Explain.

  • For Branson, a business is simply people creating something to make a difference in the world. To me a business usually stands for a company that is trying to increase their profits, so it is generally focused on their own well being, not the well being of others.

5. Branson’s message is “do the right thing even if it hurts your company in the short term.” How does this message agree with the theme of “social responsibility”? Explain.

  • Social responsibility is that people who have power/money have an obligation to act as a helper to society. When a company makes a large profit, they can afford to allow their employees time to spend with loved ones, or allow them to work part time. Branson, as a business man, truly embraces the idea/theme of social responsibility.