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“Well-Being as a Business Concept”

“Well-Being as a Business Concept” For years overall economic and societal progress of nations has been measured through GDP. While GDP remains a useful proxy of a country’s macroeconomic health, its inadequacy to measure people’s lives and well-being has grown uncontested and led countries to deploy massive efforts to build new data and initiatives that capture what really matters to people. The OECD has played a central role in this movement supporting many countries of the world in their ambition to generate more meaningful metrics of well-being and progress and to embed these metrics in everyday public policies. Since 2011 the OECD also produces well-being evidence and analysis on a regular basis through its Better Life Initiative, and mainstreams well-being in a growing numbers of its policy instruments. If well-being is today at the centre of policy-making, should it also have a role in business, one of the major actors in society? In this paper we argue that business has a strong impact on people’s well-being not only in today’s terms and within the national boundaries of one country, but also on well-being in the future and across multiple territories. However, a big research agenda lies ahead of us in terms of capturing these impacts in a more precise fashion and with data that are able to tell us what are the best business practices for enhancing people’s well-being. http://www.deepdyve.com/assets/images/DeepDyve-Logo-lg.png Humanistic Management Journal Springer Journals

“Well-Being as a Business Concept”

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Publisher
Springer Journals
Copyright
Copyright © 2016 by Springer International Publishing
Subject
Philosophy; Ethics; Quality of Life Research
ISSN
2366-603X
eISSN
2366-6048
DOI
10.1007/s41463-016-0007-1
Publisher site
See Article on Publisher Site

Abstract

For years overall economic and societal progress of nations has been measured through GDP. While GDP remains a useful proxy of a country’s macroeconomic health, its inadequacy to measure people’s lives and well-being has grown uncontested and led countries to deploy massive efforts to build new data and initiatives that capture what really matters to people. The OECD has played a central role in this movement supporting many countries of the world in their ambition to generate more meaningful metrics of well-being and progress and to embed these metrics in everyday public policies. Since 2011 the OECD also produces well-being evidence and analysis on a regular basis through its Better Life Initiative, and mainstreams well-being in a growing numbers of its policy instruments. If well-being is today at the centre of policy-making, should it also have a role in business, one of the major actors in society? In this paper we argue that business has a strong impact on people’s well-being not only in today’s terms and within the national boundaries of one country, but also on well-being in the future and across multiple territories. However, a big research agenda lies ahead of us in terms of capturing these impacts in a more precise fashion and with data that are able to tell us what are the best business practices for enhancing people’s well-being.

Journal

Humanistic Management JournalSpringer Journals

Published: Jul 28, 2016

References