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What is 'good business'? A new study has some answers

The 'Mahindra Good Business Study' shows that consumer perceptions are guided by deeply personal views

Jasodhara Banerjee
Published: Dec 3, 2020 05:05:26 PM IST
Updated: Dec 3, 2020 05:14:10 PM IST

Image: Shutterstock

Mahindra Group’s study highlights what consumers think a ‘good business’ is As part of its 75th anniversary celebrations, the Mahindra Group has published the findings of the ‘Mahindra Good Business Study’, which highlights what people perceive a ‘good business’ to be. The aim of the study, which got responses from more than 2,000 participants across 10 Tier I and II cities, was to better understand expectations, and factors that shape decision-making among consumers, investors and employees. The results show that perceptions are guided by deeply personal views, based on individual values and life experiences.

According to Anand Mahindra, chairman, Mahindra Group, “The wider role, purpose and meaning of what constitutes ‘good business’ has never been more relevant than today. A company’s social and community impact are being discussed as loudly and frequently as its balance sheets; and by more people than ever before. I absolutely believe that these broader, more inclusive expectations—whether from customers, shareholders, employers or other members of society—can be perfectly compatible. The principal role of business leaders today is to find that mutually beneficial, common ground.”

Here are some findings of what consumers perceive a ‘good business’ to be, and factors that shape their decision-making process.