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Audio Interview

Values that build prosperous businesses

Published on February 8, 2022   34 min

Other Talks in the Playlist: Interviews with business leaders and scholars

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Interviewer: I'm speaking with Dr. Mandeep Rai, author of The Values Compass: What 101 Countries Teach Us About Values, Life, and Leadership. She has a reputation of being a global authority on values. She has written that in politics or business, mastering the values, will be key to success in the next decade. Dr. Rai, I want to quote to you two other statements you've made. "Businesses increasingly realise that values exist as something more than marketing statements for the annual report. There is a cost to contravening your own values and a benefit to standing by them." You've also written "Business winners of the 2020s will above all, understand values their own and those of the people they are appealing to. Their customers, employees, and investors. They will appreciate that it is no longer enough to objectively offer the best deal." So let me first ask how, for businesses, do you define values? Dr Rai: The way I would define values for businesses is the way I would define values for individuals, and it's the way I would define values for schools or for any type of organisation, institution, gathering, or person. It's not that I think business values are a different set of values or that they need a different definition, only because they are naturally built upon people.