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10 Things You Should Know about Stakeholder CapitalismAuthor: Institute for Corporate Transformation
In 2019, the Business Roundtable announced that the purpose of business was no longer to maximize profits for shareholders. The new purpose of business would be to maximize value for stakeholders. While the announcement was applauded by many, charges of hypocrisy quickly followed as the practices of many Business Roundtable member companies suddenly seemed to contradict the new more egalitarian purpose they had proclaimed. A year later, if anything is becoming clear, it is that what the world is coming to know as stakeholder capitalism, lacks a clear definition against which to assess the performance of a firm, or even an economy. This lack of definition is not the result of a lack of attempts. For years a wide variety of thought leaders and pioneering practitioners have been refining models and frameworks to define a new paradigm for business. But none has broken into the mainstream. In response to this situation, a team comprised of members from a variety of organizations working within the business as a force for good movement attempted to create a common definition of the end-state they were all working to achieve. Their work resulted in a brand-agnostic framework, endorsed by all, that identified six essential competencies of a business in the new paradigm. In 10 binge-able episodes, this podcast will introduce, illustrate and popularize an ambitious and actionable definition for stakeholder capitalism. Producers/Hosts Amanda Kathryn Roman is a life-long convener and builder of infrastructure to scale a wide variety of movements youve heard of, and some you have not. Most recently she was the Chief Innovation Office for Conscious Capitalism where she joined the frenzy of activity happening all around the world to catalyze an expanded paradigm of capitalism. In 2018, she and Nathan Havey co-founded the year-long, comprehensive certification program for consultants of Conscious Capitalism Nathan Havey has been a leader of, participant-in content provider for, and Language: en Genres: Business, Business News, Management, News Contact email: Get it Feed URL: Get it iTunes ID: Get it |
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BIGGBY COFFEE
Episode 10
Friday, 13 November, 2020
Originally released on November 15, 2020, Episode 10 tells the story of the first six years of BIGGBY COFFEE’s transition toward Stakeholder Capitalism. Starting with a chance encounter around a fire pit on an island in the middle of Lake Michigan, to a vision that aims to change workplace culture in America, the BIGGBY journey is an excellent example of the difficulty and the distinction that accompany the work of integrating the 10 things you should know about stakeholder capitalism.Episode 10 is the final episode in the series, and the 10th thing you should know about stakeholder capitalism is that all it takes to start the process of transformation is a few good stories.If you’d like to help your company to begin or advance the work to transition to stakeholder capitalism, please share this podcast with your colleagues and if you’d like to do more, join Nathan, Amanda, the people who were profiled in this podcast series and many more like them in the Intrapreneur Accelerator.https://vimeo.com/469013008Here is a Ted Talk Bob and Mike did last year that will help you hear more about BIGGBY’s purpose: https://www.youtube.com/watch?v=72HFGoY0RrcIf you liked the music we featured in this episode, you can get more at:ØHNØKH△NYoung OceansSteven GutheinzJo BlankenburgMr. Moo
