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“Well-Being as a Business Concept”

Author

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  • Martine Durand

    (OECD)

  • Romina Boarini

    (OECD)

Abstract

For years overall economic and societal progress of nations has been measured through GDP. While GDP remains a useful proxy of a country’s macroeconomic health, its inadequacy to measure people’s lives and well-being has grown uncontested and led countries to deploy massive efforts to build new data and initiatives that capture what really matters to people. The OECD has played a central role in this movement supporting many countries of the world in their ambition to generate more meaningful metrics of well-being and progress and to embed these metrics in everyday public policies. Since 2011 the OECD also produces well-being evidence and analysis on a regular basis through its Better Life Initiative, and mainstreams well-being in a growing numbers of its policy instruments. If well-being is today at the centre of policy-making, should it also have a role in business, one of the major actors in society? In this paper we argue that business has a strong impact on people’s well-being not only in today’s terms and within the national boundaries of one country, but also on well-being in the future and across multiple territories. However, a big research agenda lies ahead of us in terms of capturing these impacts in a more precise fashion and with data that are able to tell us what are the best business practices for enhancing people’s well-being.

Suggested Citation

  • Martine Durand & Romina Boarini, 2016. "“Well-Being as a Business Concept”," Humanistic Management Journal, Springer, vol. 1(1), pages 127-137, September.
    • Handle: RePEc:spr:humman:v:1:y:2016:i:1:d:10.1007_s41463-016-0007-1
    DOI: 10.1007/s41463-016-0007-1
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    References listed on IDEAS

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    1. Andrew J. Oswald & Eugenio Proto & Daniel Sgroi, 2015. "Happiness and Productivity," Journal of Labor Economics, University of Chicago Press, vol. 33(4), pages 789-822.
    2. Sandrine Cazes & Alexander Hijzen & Anne Saint-Martin, 2015. "Measuring and Assessing Job Quality: The OECD Job Quality Framework," OECD Social, Employment and Migration Working Papers 174, OECD Publishing.
    3. Shardul Agrawala & Maëlis Carraro & Nicholas Kingsmill & Elisa Lanzi & Michael Mullan & Guillaume Prudent-Richard, 2011. "Private Sector Engagement in Adaptation to Climate Change: Approaches to Managing Climate Risks," OECD Environment Working Papers 39, OECD Publishing.
    4. Andrew E. Clark, 2015. "What makes a good job? Job quality and job satisfaction," IZA World of Labor, Institute of Labor Economics (IZA), pages 215-215, December.
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    Cited by:

    1. Pamala J. Dillon, 2021. "Virtuous Social Responsiveness: Flourishing with Dignity," Humanistic Management Journal, Springer, vol. 6(2), pages 169-185, July.

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