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Well-Being as a Business Concept

Martine Durand () and Romina Boarini ()
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Martine Durand: OECD
Romina Boarini: OECD

Humanistic Management Journal, 2016, vol. 1, issue 1, No 9, 127-137

Abstract: 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.

Keywords: Well-being; Corporate social responsibility; Metrics; Business impacts (search for similar items in EconPapers)
Date: 2016
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DOI: 10.1007/s41463-016-0007-1

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