--- title: "Meaning & Key Takeaway of: People need to understand: Businesses are…" description: "\"People need to understand: Businesses are going to make mistakes. They shouldn't be shot and hung every time. We should apologize for it. We should mak..." image: "https://sms4smile.com/quotes/i/177/jamie-dimon-1320_apologizing_people-need-to-understand-businesses-are_2709954.png" --- # People need to understand: Businesses are going to make… ![“People need to understand: Businesses are going to make mistakes. They shouldn't be shot and hung every time. We should apologize for it. We should make up for it. My shareholders paid for it. No customer was hurt, which is critical to me. But I hurt my shareholders, and I wish I hadn't.” quote by Jamie Dimon](https://sms4smile.com/quotes/i/177/jamie-dimon-1320_apologizing_people-need-to-understand-businesses-are_2709954.png) [Download](https://sms4smile.com/quotes/i/177/jamie-dimon-1320_apologizing_people-need-to-understand-businesses-are_2709954.png) [Open image](https://sms4smile.com/quotes/i/177/jamie-dimon-1320_apologizing_people-need-to-understand-businesses-are_2709954.png) > “People need to understand: Businesses are going to make mistakes. They shouldn't be shot and hung every time. We should apologize for it. We should make up for it. My shareholders paid for it. No customer was hurt, which is critical to me. But I hurt my shareholders, and I wish I hadn't.” [Jamie Dimon](https://sms4smile.com/quotes/author/jamie-dimon/) ## About This Quote This interpretation was drafted with AI assistance. It is one reading of the quote, not the author's own explanation. Business errors are inevitable; leaders should own them, apologize, and compensate stakeholders rather than face severe punishment. **In simple terms:** Admit mistakes, apologize, fix them. Key Takeaway Own errors, make amends. Themes leadership accountability stakeholder trust corporate ethics Mood reflective responsible Type advisory ethical When to use this quote - crisis management - public relations - customer service - financial reporting Key Concepts risk management reputation repair shareholder relations Questions to Reflect On - How can leaders prevent repeat mistakes? - What compensation truly satisfies hurt shareholders? A Different Perspective Apologizing may not fully restore trust if underlying issues persist. ★ ★ ★ ★ ★ No ratings yet [Apologizing](https://sms4smile.com/quotes/about/apologizing/) [Business](https://sms4smile.com/quotes/about/business/) [Critical](https://sms4smile.com/quotes/about/critical/) [Customer Hurt](https://sms4smile.com/quotes/about/customer-hurt-2800794/) [Customers](https://sms4smile.com/quotes/about/customers/) [Failure](https://sms4smile.com/quotes/about/failure/) [Hung](https://sms4smile.com/quotes/about/hung/) [Hurt](https://sms4smile.com/quotes/about/hurt/) [Hurt Shareholders](https://sms4smile.com/quotes/about/hurt-shareholders-2800792/) [Make Shareholders](https://sms4smile.com/quotes/about/make-shareholders-2800793/) [Making mistakes](https://sms4smile.com/quotes/about/making-mistakes/) [Mistake](https://sms4smile.com/quotes/about/mistake/) [Mistakes Shouldn](https://sms4smile.com/quotes/about/mistakes-shouldn-896614/) [Needs](https://sms4smile.com/quotes/about/needs/) [Paid](https://sms4smile.com/quotes/about/paid/) [People](https://sms4smile.com/quotes/about/people/) [Shareholders](https://sms4smile.com/quotes/about/shareholders/) [Shareholders Wish](https://sms4smile.com/quotes/about/shareholders-wish-2800795/) [Shots](https://sms4smile.com/quotes/about/shots/) [Should](https://sms4smile.com/quotes/about/should/) [Wish](https://sms4smile.com/quotes/about/wish/) ## Related quotes > [People need to understand: Businesses are going to make mistakes. They shouldn't be shot and hung every time.](https://sms4smile.com/quotes/jamie-dimon/people-need-to-understand-businesses-are-going-to-make-mistakes-they/) [Jamie Dimon](https://sms4smile.com/quotes/author/jamie-dimon/) > [Calling oneself a hero after making mistakes shouldn't earn public trust.](https://sms4smile.com/quotes/mike-medavoy/calling-oneself-a-hero-after-making-mistakes-shouldn-t-earn-public/) [Mike Medavoy](https://sms4smile.com/quotes/author/mike-medavoy/) > [“The truth is, everyone’s flawed. That’s the nature of human beings. But our mistakes alone shouldn’t define us. We should be judged by the…](https://sms4smile.com/quotes/hillary-rodham-clinton/the-truth-is-everyone-s-flawed-that-s-the-nature-of-human-beings-but/) [Hillary Rodham Clinton](https://sms4smile.com/quotes/author/hillary-rodham-clinton/) > [Well, on lots of small things we could have done better, but on all the big things we called it right. You should make…](https://sms4smile.com/quotes/ken-livingstone/well-on-lots-of-small-things-we-could-have-done-better-but-on-all-the/) [Ken Livingstone](https://sms4smile.com/quotes/author/ken-livingstone/) > [I became a councillor back in 1971, so if by this stage in politics I'm making lots of big mistakes, then I shouldn't be here.](https://sms4smile.com/quotes/ken-livingstone/i-became-a-councillor-back-in-1971-so-if-by-this-stage-in-politics-i/) [Ken Livingstone](https://sms4smile.com/quotes/author/ken-livingstone/) > [Companies that build scale for the benefit of their customers and shareholders more often succeed over time.](https://sms4smile.com/quotes/jamie-dimon/companies-that-build-scale-for-the-benefit-of-their-customers-and/) [Jamie Dimon](https://sms4smile.com/quotes/author/jamie-dimon/) > [Companies are returning a lot of money to shareholders through dividends and buybacks. And a lot of people say that's not a good use…](https://sms4smile.com/quotes/jamie-dimon/companies-are-returning-a-lot-of-money-to-shareholders-through/) [Jamie Dimon](https://sms4smile.com/quotes/author/jamie-dimon/) > [Companies that grow for the sake of growth or that expand into areas outside their core business strategy often stumble. On the other hand,…](https://sms4smile.com/quotes/jamie-dimon/companies-that-grow-for-the-sake-of-growth-or-that-expand-into-areas/) [Jamie Dimon](https://sms4smile.com/quotes/author/jamie-dimon/) > [I've always wanted to help build a better society and build a better company, and I always wanted a healthy, vibrant company, a healthy,…](https://sms4smile.com/quotes/jamie-dimon/i-ve-always-wanted-to-help-build-a-better-society-and-build-a-better/) [Jamie Dimon](https://sms4smile.com/quotes/author/jamie-dimon/) > [If the government wants to do social policy, it should not be done in a quasi-public company. If you have a mortgage guarantee company…](https://sms4smile.com/quotes/jamie-dimon/if-the-government-wants-to-do-social-policy-it-should-not-be-done-in/) [Jamie Dimon](https://sms4smile.com/quotes/author/jamie-dimon/) > [Scale can create value for shareholders; for consumers, who are beneficiaries of better products, delivered more quickly and at less cost; for the businesses…](https://sms4smile.com/quotes/jamie-dimon/scale-can-create-value-for-shareholders-for-consumers-who-are/) [Jamie Dimon](https://sms4smile.com/quotes/author/jamie-dimon/) > [If you can't use dividends, it's not a bad thing to give it back to your shareholders. They'll use it somewhere else.](https://sms4smile.com/quotes/jamie-dimon/if-you-can-t-use-dividends-it-s-not-a-bad-thing-to-give-it-back-to/) [Jamie Dimon](https://sms4smile.com/quotes/author/jamie-dimon/) > [Corporations are driving down wages and working conditions across the globe to maximize returns for their shareholders. They use their power and influence to…](https://sms4smile.com/quotes/winnie-byanyima/corporations-are-driving-down-wages-and-working-conditions-across-the/) [Winnie Byanyima](https://sms4smile.com/quotes/author/winnie-byanyima/) > [What we need is political leadership which can give guidance to the development of global governance. We need business leadership which goes beyond shareholder…](https://sms4smile.com/quotes/juan-somavia/what-we-need-is-political-leadership-which-can-give-guidance-to-the/) [Juan Somavia](https://sms4smile.com/quotes/author/juan-somavia/) > [There are questions as to whether it should even exist. Who should corporations be responsive to, the management of a corporation? Theoretically they are…](https://sms4smile.com/quotes/noam-chomsky/there-are-questions-as-to-whether-it-should-even-exist-who-should/) [Noam Chomsky](https://sms4smile.com/quotes/author/noam-chomsky/) ## More by Jamie Dimon > [I think if we had another set of policies for - not the crisis years, but after that, that we might be growing faster.…](https://sms4smile.com/quotes/jamie-dimon/i-think-if-we-had-another-set-of-policies-for-not-the-crisis-years/) [Jamie Dimon](https://sms4smile.com/quotes/author/jamie-dimon/) > [I learn from all our major competitors, whether they're in or out of the U.S. Wells Fargo is very actively, very aggressively, and very…](https://sms4smile.com/quotes/jamie-dimon/i-learn-from-all-our-major-competitors-whether-they-re-in-or-out-of/) [Jamie Dimon](https://sms4smile.com/quotes/author/jamie-dimon/) > [The United States has the best, deepest, widest, and most transparent capital markets in the world which give you, the investor, the ability to…](https://sms4smile.com/quotes/jamie-dimon/the-united-states-has-the-best-deepest-widest-and-most-transparent/) [Jamie Dimon](https://sms4smile.com/quotes/author/jamie-dimon/) > [People always say to me, "What if it doesn't work?" If it doesn't work, we redouble our effort. We're not going to cry like…](https://sms4smile.com/quotes/jamie-dimon/people-always-say-to-me-what-if-it-doesn-t-work-if-it-doesn-t-work-we/) [Jamie Dimon](https://sms4smile.com/quotes/author/jamie-dimon/) > [We've made a huge effort globally and in the US, in getting kids jobs. This is one piece. The South Bronx and inner-city schools…](https://sms4smile.com/quotes/jamie-dimon/we-ve-made-a-huge-effort-globally-and-in-the-us-in-getting-kids-jobs/) [Jamie Dimon](https://sms4smile.com/quotes/author/jamie-dimon/) > [You know, the benefit in life is to say, 'Maybe you made a mistake, let's dig deep.](https://sms4smile.com/quotes/jamie-dimon/you-know-the-benefit-in-life-is-to-say-maybe-you-made-a-mistake-let-s/) [Jamie Dimon](https://sms4smile.com/quotes/author/jamie-dimon/) > [JP Morgan always has higher capital liquidity, that is partially to make up for mistakes and problems and obviously its a tough economy. We…](https://sms4smile.com/quotes/jamie-dimon/jp-morgan-always-has-higher-capital-liquidity-that-is-partially-to/) [Jamie Dimon](https://sms4smile.com/quotes/author/jamie-dimon/) > [Trade is very good for the country. It's very good for the GDP. It's good for wages, but it doesn't mean it's always good…](https://sms4smile.com/quotes/jamie-dimon/trade-is-very-good-for-the-country-it-s-very-good-for-the-gdp-it-s/) [Jamie Dimon](https://sms4smile.com/quotes/author/jamie-dimon/) > [I've asked our people, "Why don't we just put a revolver on top of our basic loan?" Make it easier for the client.](https://sms4smile.com/quotes/jamie-dimon/i-ve-asked-our-people-why-don-t-we-just-put-a-revolver-on-top-of-our/) [Jamie Dimon](https://sms4smile.com/quotes/author/jamie-dimon/) > [As a matter of fact 25% of our U.S. investment banking business comes out of our commercial bank. So it's a competitive advantage for…](https://sms4smile.com/quotes/jamie-dimon/as-a-matter-of-fact-25-of-our-u-s-investment-banking-business-comes/) [Jamie Dimon](https://sms4smile.com/quotes/author/jamie-dimon/) > [ Not every company went bankrupt. Not every bank needed TARP \[Troubled Asset Relief Program\]. So I'm very proud that JPMorgan, throughout that time period,… ](https://sms4smile.com/quotes/jamie-dimon/not-every-company-went-bankrupt-not-every-bank-needed-tarp-troubled/) [Jamie Dimon](https://sms4smile.com/quotes/author/jamie-dimon/) > [I do want the tax system to be efficient and be conducive to growth, which it is not.](https://sms4smile.com/quotes/jamie-dimon/i-do-want-the-tax-system-to-be-efficient-and-be-conducive-to-growth/) [Jamie Dimon](https://sms4smile.com/quotes/author/jamie-dimon/) > [ There are parts \[in Dodd-Frank\] that I don't agree with. But, in total, it is what it is. ](https://sms4smile.com/quotes/jamie-dimon/there-are-parts-in-dodd-frank-that-i-don-t-agree-with-but-in-total-it/) [Jamie Dimon](https://sms4smile.com/quotes/author/jamie-dimon/) > [It's good for America when the rest of the world grows, because you can sell more to the rest of the world.](https://sms4smile.com/quotes/jamie-dimon/it-s-good-for-america-when-the-rest-of-the-world-grows-because-you/) [Jamie Dimon](https://sms4smile.com/quotes/author/jamie-dimon/) > [We had a lot of gridlock on a lot of issues. But, the American system is pretty resilient.](https://sms4smile.com/quotes/jamie-dimon/we-had-a-lot-of-gridlock-on-a-lot-of-issues-but-the-american-system/) [Jamie Dimon](https://sms4smile.com/quotes/author/jamie-dimon/) [Explore all 257 Jamie Dimon quotes ](https://sms4smile.com/quotes/author/jamie-dimon/) ## More Apologizing quotes > [“There were probably many factors that kept the relationship going and kept your love alive. There were all his promises. "I promise this will…](https://sms4smile.com/quotes/meg-kennedy-dugan/there-were-probably-many-factors-that-kept-the-relationship-going-and/) [Meg Kennedy Dugan](https://sms4smile.com/quotes/author/meg-kennedy-dugan/) > [“A lady need never apologize. ~ Joseph de Bonaparte (Brother of Napoleon)”](https://sms4smile.com/quotes/allison-pataki/a-lady-need-never-apologize-joseph-de-bonaparte-brother-of-napoleon/) [Allison Pataki](https://sms4smile.com/quotes/author/allison-pataki/) > [A jerk will keep hurting you then apologize to keep you from leaving them, and then do it all over again](https://sms4smile.com/quotes/sonya-parker/a-jerk-will-keep-hurting-you-then-apologize-to-keep-you-from-leaving/) [Sonya Parker](https://sms4smile.com/quotes/author/sonya-parker/) > [To apologize for what you most wanted to do, to concede that it was obnoxious, boring, 'vulgar and unsafe' --- that was the worst…](https://sms4smile.com/quotes/alan-hollinghurst/to-apologize-for-what-you-most-wanted-to-do-to-concede-that-it-was/) [Alan Hollinghurst](https://sms4smile.com/quotes/author/alan-hollinghurst/) > [I have some friends who are actors. I've watched them work. And I would say that of all the arts, acting is the most…](https://sms4smile.com/quotes/kristen-stewart/i-have-some-friends-who-are-actors-i-ve-watched-them-work-and-i-would/) [Kristen Stewart](https://sms4smile.com/quotes/author/kristen-stewart/) > [President Bush deliberately did not apologize for things and that’s because advisers around him, including those there, felt that the press corps would jump…](https://sms4smile.com/quotes/david-gregory/president-bush-deliberately-did-not-apologize-for-things-and-that-s/) [David Gregory](https://sms4smile.com/quotes/author/david-gregory/) > [Apologizing does not always mean you are wrong, it just means that value your relationships more than your ego.](https://sms4smile.com/quotes/chinier-bennett/apologizing-does-not-always-mean-you-are-wrong-it-just-means-that/) [Chinier Bennett](https://sms4smile.com/quotes/author/chinier-bennett/) > [I would like to publicly apologize to anyone I have NOT offended¦I will get to you shortly.](https://sms4smile.com/quotes/anonymous/i-would-like-to-publicly-apologize-to-anyone-i-have-not-offended-i/) [Anonymous](https://sms4smile.com/quotes/author/anonymous/) > [I have a responsibility, and it's something that I did wrong, and if I could personally apologize to every single person that has lost…](https://sms4smile.com/quotes/nicole-richie/i-have-a-responsibility-and-it-s-something-that-i-did-wrong-and-if-i/) [Nicole Richie](https://sms4smile.com/quotes/author/nicole-richie/) > [To the millions of Americans whove attempted to use HealthCare.gov to shop and enroll in health-care coverage, I want to apologize to you that…](https://sms4smile.com/quotes/marilyn-tavenner/to-the-millions-of-americans-whove-attempted-to-use-healthcare-gov-to/) [Marilyn Tavenner](https://sms4smile.com/quotes/author/marilyn-tavenner/) > [My overall point is that 'one and dones' are not healthy for college basketball. I should not have made it personal to Kentucky and…](https://sms4smile.com/quotes/bobby-knight/my-overall-point-is-that-one-and-dones-are-not-healthy-for-college/) [Bobby Knight](https://sms4smile.com/quotes/author/bobby-knight/) > [Don't apologize for being patriotic. Support the troops](https://sms4smile.com/quotes/toby-keith/don-t-apologize-for-being-patriotic-support-the-troops/) [Toby Keith](https://sms4smile.com/quotes/author/toby-keith/) > [How many chefs when I was a young boy shouted at me during service? All I ever said was "Yes, chef." The customer is…](https://sms4smile.com/quotes/marco-pierre-white/how-many-chefs-when-i-was-a-young-boy-shouted-at-me-during-service/) [Marco Pierre White](https://sms4smile.com/quotes/author/marco-pierre-white/) > [I want to use my connections with coaches, players, celebrities, whomever, and if I can take that friendship and use it to help someone…](https://sms4smile.com/quotes/tim-tebow/i-want-to-use-my-connections-with-coaches-players-celebrities/) [Tim Tebow](https://sms4smile.com/quotes/author/tim-tebow/) > [I apologize for the cruel things that I did but I don't regret one single word I said.](https://sms4smile.com/quotes/five-finger-death-punch/i-apologize-for-the-cruel-things-that-i-did-but-i-don-t-regret-one/) [Five Finger Death Punch](https://sms4smile.com/quotes/author/five-finger-death-punch/) [Browse all 854 Apologizing quotes ](https://sms4smile.com/quotes/about/apologizing/) ```json { "@context": "https://schema.org", "@graph": [ { "@type": "Quotation", "text": "People need to understand: Businesses are going to make mistakes. 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