Is Success Purely Financial?

More often than not, we tend to define success using purely financial or monetary terms. For a lot of us, this definition of success is seen from an early age: those kids with the most money can buy the most sweets, for example, and so we tend to associate them with success. As we grow older we tend to abide by this definition and use it on a regular basis, even as adults. We deem those individuals with the most expensive houses or cars as being the most successful. But my questions is: does success have to be purely financial? Essentially, I am curious as to whether success can be measured using non-monetary terms and measures. I believe that success can be defined through taking a more holistic approach. Moreover, I would like to look at the issues of measuring success in purely through monetary means.

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A business is often labelled as being successful if it has the ability to generate a large turnover in comparison to its competitors. This is an example of how firms can be measured in a purely monetary manner. The problem with such an analysis is, however, that it does not take into account the more non-monetary elements which are vital to overall efficiency. One of these elements could be the overall wellbeing of employees. One could imagine a firm which has an enormous turnover; however, its employees still have poor working conditions and hence poor wellbeing. An example of such a firm could be Amazon, according to reports their workers are often forced to work at extremely tough workrates which could lead to physical and mental exhaustion. Nonetheless, Amazon is still able to turnover large sums of money and they do get products to you at an amazing speed! This would make one question whether success can, therefore, be judged using purely monetary measures since it does not allow one to take into account the physical and emotional wellbeing of employees. Perhaps we must instead take into account the general wellbeing of employees - through holistic surveys and employee engagement lists - which will enable us to understand how successful a firm is at caring for its employees.

To read the full article, please click the link here: https://www.forbes.com/sites/biancamillercole/2019/06/17/is-success-purely-financial/#702a69f57d29