Embrace Your Inner Pirate

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One example of this is the prescription drugs market. Western drug companies don’t sell AIDS drugs to the developing countries that make up 90% of the people suffering from AIDS because they can’t afford to pay the price. Because of profit, drug companies use patents to ensure that cheaper, generic drugs do not enter into these developing countries as competition. (Page 62 if you’d like to read more about this particular example.)

The problem is that many lives could be saved, but fear of losing profit stops these companies from saving those who need it most. Mason suggests companies need to harness this creativity and collaborate with these so-called pirates.

OK, so this is an extreme case but just think about it: What would happen if instead of simply worrying about dollar signs and only the bottom line? Too often companies forget what customers are saying, how they perceive the company’s brand and how the product or service can serve creative thinking and the consumer.

Read the full piece at Business Pundit.