Assuming Quote by James O'Toole
“Managers who assume that higher profits drive better working conditions may have their logic backwards. Contrary to conventional wisdom, our research identified companies in virtually every industry that are profitable because they provide good jobs.”
About This Quote
Profitability can stem from providing good jobs, contradicting the belief that higher profits cause better working conditions.
In simple terms: Good jobs can make companies profitable.
Key Takeaway
Invest in employee welfare for success.
Themes
economics
labor
business strategy
social responsibility
Mood
analytical
insightful
Type
business
economics
When to use this quote
- corporate policy
- HR practices
- industry analysis
- investment decisions
Key Concepts
profitability
employee satisfaction
sustainable growth
Questions to Reflect On
- How does employee welfare impact profit margins?
- What industries show the strongest link?
A Different Perspective
May not apply to all sectors equally.
![“It [the pharmaceutical industry] is the most profitable industry in the world, and partially funds the US government. It surpasses oil in terms of profits and my country recently went to war due to oil pricing. What does that say they will do to keep this other industry in tact? It is up to…” quote by Margot Kidder](https://sms4smile.com/quotes/img-quotes/e37/margot-kidder-9961_alternatives_it-the-pharmaceutical-industry-is-the-mo_1130437.jpg)
