What is a responsible business? Common wisdom is that it's one that sacrifices profit for social outcomes. But while it's crucial for companies to serve society, they also have a duty to generate profit for investors-savers, retirees, and pension funds.Based on the highest-quality evidence and real-life examples spanning industries and countries, Alex Edmans shows that it's not an either-or choice-companies can create both profit and social value. The most successful companies don't target profit directly but are driven by purpose-the desire to serve a societal need and contribute to human betterment. The audio book explains how to embed purpose into practice so that it's more than just a mission statement, and it discusses the critical role of working collaboratively with a company's investors, employees, and customers.Rigorous research also uncovers surprising results on how executive pay, shareholder activism, and share buybacks can be used for the common good.
What is a responsible business? Common wisdom is that it's one that sacrifices profit for social outcomes. But while it's crucial for companies to serve society, they also have a duty to generate profit for investors-savers, retirees, and pension funds.Based on the highest-quality evidence and real-life examples spanning industries and countries, Alex Edmans shows that it's not an either-or choice-companies can create both profit and social value. The most successful companies don't target profit directly but are driven by purpose-the desire to serve a societal need and contribute to human betterment. The audio book explains how to embed purpose into practice so that it's more than just a mission statement, and it discusses the critical role of working collaboratively with a company's investors, employees, and customers.Rigorous research also uncovers surprising results on how executive pay, shareholder activism, and share buybacks can be used for the common good.
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