Lee Tom Perry, an expert in organizational influence, discusses the crucial role of private service in the business world. He contrasts the expectations faced by leaders in private vs. public sectors, emphasizing the positive outcomes of ethical corporate practices. Through engaging personal anecdotes, he illustrates how small acts of service can lead to significant societal change. Perry also delves into the connection between service and education, advocating for leaders to inspire a culture of service within their organizations. A thoughtful exploration of how service can drive both community and business success!
The podcast highlights the importance of integrating service into education to produce socially responsible graduates who prioritize community contributions over profit.
It discusses how private organizations like Merck can successfully engage in ethical service initiatives that enhance both community welfare and corporate reputation.
Deep dives
The Vision of Service in Management Education
The founding vision of the School of Organization Management at Yale was to train managers who could seamlessly transition between the public and private sectors, creating a culture of civic duty intertwined with business acumen. Bill Donaldson, the school's dean, aimed to prepare students for a balance of careers, with a focus on service rather than just profit. However, upon entering the job market, graduates overwhelmingly chose lucrative private sector positions over public service, leading Donaldson to feel betrayed by his vision. This shift illustrated a disconnection between the ideals of service and the economic motivations that often drive career choices in management education.
The Symbiosis of Service and Learning
Service and learning are deeply interconnected, yet the podcast emphasizes that education without service can be a self-serving endeavor. The work done by students in organizational behavior courses illustrates this dynamic, where students engage in required service projects that not only fulfill academic obligations but also contribute significantly to the community. Over the years, these projects have included tangible contributions such as reforestation efforts, support for the homeless, and entertainment for people with special needs. The narrative stresses the necessity for educators to integrate service as a core component of learning experiences to produce well-rounded individuals committed to serving others.
Private Service and Ethical Business Practices
The podcast highlights how companies like Merck engage in private service through ethical practices that prioritize education and healthcare support in Central and Eastern Europe, rather than simply maximizing profits. Initiatives such as establishing medical study centers and providing substantial donations for pediatric care exemplify Merck’s commitment to corporate responsibility and community service. The narrative also addresses the complexities businesses face in maintaining ethical standards while meeting stockholder expectations, particularly when determining drug pricing in economically challenged regions. Ultimately, the discussion emphasizes that effective private service can lead to enhanced business reputation and community impact, showcasing that service and profitability can coexist.
Private organizations can take part in private service initiatives to influence the world for good and achieve positive business results. Click here to view the speech page.