David Packard on Reason for Existence
on Thursday, December 26, 2013David Packard Money Quotation saying a corporation must have more than a catch phrase to base their reason for being on more than profit. David Packard said:
“Money is an important part of a company’s existence, if the company is any good. But a result is not a cause” — David Packard
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In this quote, David Packard seems to be acknowledging that financial resources and profitability are certainly important factors for a successful business. However, he also appears to be arguing that money alone does not drive or create a company’s success – it is the result of success, not the cause.
Packard seems to be saying that while revenue is necessary for a quality company to operate and grow, the true causes of a business achieving profits and stability are the value, quality and impact of its products or services.
His statement implies the focus should be on first developing excellent offerings that benefit customers and society, and money will follow as a natural byproduct rather than the primary motivation. Packard suggests profits are best viewed as an outcome of providing value to stakeholders, not an end in themselves.