I was challenged yesterday on the practicality of running a company in service to society within certain industries. My friend brought up a very valid point about gambling and mortgage brokers. An appropriate pairing.
If gambling organisations were in service of their community, what decisions might they make that would enable them to run a profitable venture, while still provide a win win situation?
What could the US mortgage brokers have said to people asking for a home loan who could never afford the fees? What decisions might Lehman Brothers have made?
This isn't an altruistic proposition. It ultimately is about smart businesses taking a future- based approach that leads to cost-effective decisions and actions.
If the gambling organisations didn't require legislation forcing them to turn away addicts, they would save money that would otherwise be spent defending their position. Not to mention lawsuits.
As for Lehman Brothers. Enough said.