What is a business ideology? This is the question we will explore in this blog post. There are many possible answers, but one definition of a business ideology is “a set of values and beliefs that guide how an organization operates.” What does it mean to operate as an organization guided by your company’s values and beliefs? We will explore different ideologies such as capitalist, socialist, and liberalist. These three ideologies have very different operating principles which can lead to vastly different outcomes for shareholders.
What are some examples of these ideologies in action? One example would be Walmart’s decision to raise wages for its lowest-paid workers because they believe that it boosts productivity among their employees who then feel better about themselves.