A Happiness-Based View of the Firm
DOI:
https://doi.org/10.17010/ijom/2024/v54/i8/174186Keywords:
happiness-based view of firm
, happiness, strategy, happiness strategy, performance, sustainability, prosperity.Paper Submission Date
, February 5, 2024, Paper sent back for Revision, May 15, Paper Acceptance Date, June 10, Paper Published Online, August 14, 2024Abstract
Purpose : There are many dangers, difficulties, and failures in the rapidly evolving business environment, which makes it imperative for companies to find innovative ways to conduct business.
Design/Methodology/Approach : This conceptual and perspective paper used a primarily deductive approach and some inductive approach.
Findings : Companies may confront new risks and difficulties and take advantage of opportunities by adopting a happiness-based vision of the company. A strategy based on happiness generates a long-term competitive advantage and has a favorable impact on the overall performance of the company as well as several functional areas. This viewpoint combines company and individual objectives. Sustainability follows happiness. A firm with a happiness-based perspective fosters success, sustainability, and happiness as mutually reinforcing objectives that benefit the individual, the business, the environment, and society as a whole.
Practical Implications : This work has implications for governments, civil society, practitioners, and academicians. For governments, it created a new way to look at government policy to encourage a happiness-based view and create a win-win for individuals, firms, the environment, and society overall. It provided environmentalists and members of civil society with a fresh avenue for advocating for the preservation of the environment. Owners and professionals could view the company in a different light, and practitioners could address issues with business and strategy failure. It also provided researchers with an additional topic to explore.
Originality/Value : This work suggested a new way to view a firm which created value for governments, civil society, business professionals, and academicians.
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