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Humanity and Business: Adding Value by Valuing Others. Is taking a human approach in a business a crucial factor for its success?

  • Many entrepreneurs are still conducting business today according to the principle "the purpose of business is business". The focus here is primarily placed on the corporation’s profits while human relations within the enterprise are almost completely ignored. Humanity and business are, after all, seen as two mutually exclusive concepts. However, results of studies undertaken by well-known research institutes, such as Gallup, indicate this management style to be inefficient for businesses in the long run as the resulting low emotional bond of employees with their companies generates high costs for organizations. For this reason, the present paper examines the extent to which humanity and business are really two mutually exclusive ideas and provides an answer to the research question of whether taking a human approach in a business is a crucial factor for its success. In addition, the possible effects resulting through the integration of humanity in business are analyzed. To provide an answer to the research question, the currently most recent working challenges in organizations as well as their corresponding demands were first worked out. Subsequently, the human being - with a specific focus on human emotions and emotional needs – was closer examined due to its significance in the company. Finally, the possible effects achieved by taking a human approach in a business were presented on the basis of two already human-oriented corporations. All researches were predominantly based on primary sources as well as on the results of a self-conducted qualitative interview. The results of all investigations clearly suggest that taking a human approach in an organization is a decisive factor for its success. In addition, it was established that human interactions even help enterprises in achieving astonishingly quick and long-lasting financial successes. It is therefore plain that it is necessary for companies pursuing the goal to be successful in the long-term to break free from the common principle of "the purpose of business is business" and instead be more open to new forms of management, such as "Humanity and Business".

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  • Humanity and business : adding value by valueing others.

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Author:Suzan Tümen
Advisor:Uwe Hack
Document Type:Bachelor Thesis
Year of Completion:2021
Granting Institution:Hochschule Furtwangen
Date of final exam:2021/08/31
Release Date:2021/08/30
Tag:Human resource management; Humanity; Leadership
Page Number:80
Degree Program:IBM - International Business Management
Functional area:Human Resource Management
Open-Access-Status: Closed Access 
Licence (German):License LogoUrheberrechtlich geschützt