Summary of "THE BUSINESS OF BUILDING A BETTER WORLD" by David Cooperrider and Audrey Selian

Summary

In 'The Business of Building a Better World,' David Cooperrider and Audrey Selian present a compelling call to action for businesses to address the existential crises facing our planet. The collection of essays emphasizes the urgent need for sustainable, humane business models that benefit both society and the environment while maintaining profitability. Key themes include the critique of shareholder primacy, the demand for accountability, and the necessity of innovative, large-scale solutions. Ultimately, the authors argue that by prioritizing purpose and community, businesses can transform their impact and contribute to a more equitable future.

Takeaways

• 🌍 Takeaway 1: Business has contributed to the existential crisis facing the planet and must be part of the solution to ensure the survival of humanity.
• 📉 Takeaway 2: The current global business environment lacks diversity and often perpetuates the status quo, leading to practices that degrade people and the environment.
• 💔 Takeaway 3: Many CEOs still prioritize shareholder profits over stakeholder well-being, despite pledges to adopt stakeholder capitalism.
• ⚖️ Takeaway 4: The inequities in wealth distribution and exploitation of workers highlight the need for a fundamental change in business practices.
• 🔄 Takeaway 5: Firms must shift from a focus solely on profit maximization to a model that emphasizes collaboration, sustainability, and long-term success.
• 🌱 Takeaway 6: There is an increasing demand for accountability and action from businesses to address environmental and social challenges.
• 🤝 Takeaway 7: Creating work environments centered on care and purpose can lead to healthier, more innovative businesses.
• 🚀 Takeaway 8: Revolutionary changes are needed across sectors to address the urgent crises facing our world, akin to a global Marshall Plan.
• 💼 Takeaway 9: Companies that prioritize social and environmental responsibility often outperform their competitors and create sustainable business models.
• 🌐 Takeaway 10: To meet the growing demands of the population and improve living standards, businesses must embrace imagination and aim for exponential impact.

Q & A

What is the main argument of 'The Business of Building a Better World'?

The main argument is that businesses, while contributing to global crises, must also play a crucial role in finding solutions through humane, collaborative, and sustainable practices.

How does the book suggest current business practices are failing society?

The book argues that the global business world lacks diversity and perpetuates the status quo, often leading to practices that degrade people and the environment.

What is meant by 'stakeholder capitalism' as discussed in the book?

Stakeholder capitalism refers to a business model that prioritizes the interests of all stakeholders—employees, customers, suppliers, and the community—over solely maximizing shareholder profits.

What has been the response of young adults towards capitalism according to the book?

The book notes that a majority of young adults aged 23 to 38 in the U.S. would prefer to live in a socialist or communist society rather than in the capitalist society they grew up in.

How does the book propose businesses should change to avoid disaster?

The book advocates for revolutionary changes in business practices, emphasizing the need for organizations to elevate their ambitions regarding sustainability and to actively engage with the community.

What role do B Corporations play in the current business landscape?

B Corporations are companies that meet strict standards of social and environmental performance, accountability, and transparency, often outperforming traditional corporations.

What impact did the COVID-19 pandemic have on consumer expectations of businesses?

The pandemic sparked a significant mindset shift among consumers, increasing their demands for fair treatment of employees and ethical business practices.

Why is it important for businesses to embrace a culture of love and purpose?

Embracing a culture of love and purpose can enhance employee engagement, attract talent, and lead to better overall performance and innovation within organizations.

What is the significance of the UN's Sustainable Development Goals (SDGs) mentioned in the book?

The SDGs provide a framework for businesses to align their practices with global goals for sustainability, which can also unlock growth opportunities while promoting social and environmental well-being.

What is the book's stance on the relationship between doing good and financial success?

The book posits that firms that engage in socially responsible practices tend to perform better financially, demonstrating that doing good can lead to doing better in business.