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Business goals for a new world order: beyond growth, greed and quarterly results

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  • Geert Hofstede

Abstract

Around 1998, junior managers and professionals in 17 countries and regions rated the importance of a number of personal goals for their country's successful business leaders. Across countries, dominant goals were growth, continuity, short-term profits and personal wealth. Goal profiles differed among countries however. The US profile presented the most extreme stress on growth, personal wealth, and short-term results. In hindsight, these findings predicted the 2008 economic crash. Out of the ruins of the present system a new order is bound to emerge, less dominated by the USA. Goal profiles for the emerging economies of India, Brazil, China and Germany are shown to predict where the new world order may differ from the old one: a longer term view, less fascination with growth and personal wealth, and more responsibility towards society.

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  • Geert Hofstede, 2009. "Business goals for a new world order: beyond growth, greed and quarterly results," Asia Pacific Business Review, Taylor & Francis Journals, vol. 15(4), pages 481-488, October.
    • Handle: RePEc:taf:apbizr:v:15:y:2009:i:4:p:481-488
    DOI: 10.1080/13602380903102029
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    References listed on IDEAS

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    1. Geert Hofstede, 2004. "Business Goals and Corporate Governance," Asia Pacific Business Review, Taylor & Francis Journals, vol. 10(3-4), pages 292-301, March.
    2. Geert Hofstede & Cheryl A Van Deusen & Carolyn B Mueller & Thomas A Charles, 2002. "What Goals Do Business Leaders Pursue? A Study in Fifteen Countries," Journal of International Business Studies, Palgrave Macmillan;Academy of International Business, vol. 33(4), pages 785-803, December.
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    3. Rolf D. Dixon & Cam Caldwell & Apichai Chatchutimakorn & Kayla Gradney & Kochakan Rattanametangkul, 2010. "Managing Justly Across Cultures:The Problem of Fairness in International Business," Journal of Management and Strategy, Journal of Management and Strategy, Sciedu Press, vol. 1(1), pages 22-32, December.
    4. Mahendra Kumar Pallapothu & Gary Evans, 2013. "Gauging the Market and Non-Market Forces in Indian Aquaculture Industry for a Strategic Position in Fish Vaccines Market," Journal of Management and Strategy, Journal of Management and Strategy, Sciedu Press, vol. 4(1), pages 41-61, February.

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