TED: The value of kindness at work | James Rhee

The video explores the concept of goodwill, both as an accounting term and a human value. The speaker shares a personal story from childhood that taught him about kindness and its impact. He discusses his career in finance and a pivotal moment in 2013 when he took over as CEO of Ashley Stewart, a struggling company. By fostering a culture of kindness and operationalizing goodwill, the company achieved remarkable success. The speaker reflects on the lessons learned and the enduring value of goodwill in business and life.

What is the technical definition of goodwill in accounting?

• An asset created when a company is sold for more than its net assets

• An asset created when a company is sold for less than its net assets

• A liability that appears on the balance sheet

• A measure of a company's profitability

What personal experience did the narrator share to illustrate the human aspect of goodwill?

• Getting a promotion at work

• Being gifted a toy helicopter for sharing lunch with a friend

• Receiving a scholarship for academic excellence

• Winning a sports competition

What was the narrator's initial reaction to becoming the CEO of Ashley Stewart?

• He had immediate pangs of regret

• He was confident and excited

• He felt indifferent

• He was eager to make changes

How did the employees and customers of Ashley Stewart contribute to the company's transformation?

• By offering insights and support

• By leaving the company

• By demanding higher salaries

• By investing their own money

What was the primary focus of the new business plan at Ashley Stewart?

• Maximizing short-term profits

• Establishing a culture of kindness

• Expanding internationally

• Reducing employee benefits

How did the company operationalize goodwill in its business strategy?

• By cutting costs and reducing staff

• By outsourcing all production

• By focusing solely on digital marketing

• By integrating kindness into operations and marketing

What was the outcome of the company's new strategy centered on goodwill?

• The company went bankrupt

• The company saw significant financial growth

• The company was sold to a competitor

• The company reduced its workforce

What was the 'Finding Ashley Stewart' initiative?

• A nationwide search for unsung women leaders

• A search for new store locations

• A recruitment drive for new employees

• A marketing campaign to increase sales

What lesson did the narrator learn from the red helicopter experience?

• Goodwill is a financial liability

• Goodwill is only important in personal life

• Goodwill is irrelevant in the business world

• Goodwill can create real value in both life and business

What was the financial result of the company's transformation under the new strategy?

• The company was acquired by a larger firm

• The company broke even

• The company generated significant profits

• The company lost money