Sélectionner une page
Reinventing companies by serving the common good and thriving as a result

Reinventing companies by serving the common good and thriving as a result

The Altruistic Corporation: Reinventing companies by serving the common good and thriving as a result

Isaac Getz and Laurent Marbacher

 

Working paper ESCP Business School 
July 2020

 

Adam Smith posited that by pursuing its economic self-interest, business creates social value. The data backs him up: from 1820 to 2001, per capita income rose twentyfold in the industrialized West (only sixfold in the rest of the world).[ii] This has meant that for the first time in human history, a significant portion of humankind could escape from living at mere subsistence level. Unfortunately—and increasingly—these benefits also come with collateral damage to our societies. There have been attempts to mitigate this damage for as long as modern business has existed,[iii] culminating in today’s approaches ranging from Corporate Social Responsibility (CSR) to the Triple Bottom Line (TBL) and Conscious Capitalism, all trying to generate both economic and social value simultaneously. But as John Elkington, the inventor of TBL, wrote recently: “Whereas CEOs… move heaven and earth to ensure that they hit their profit targets, the same is very rarely true of their people and planet targets. Clearly, the Triple Bottom Line has failed to bury the single bottom line paradigm.”[iv] The latest of these attempts, the Business Roundtable “Statement on the Purpose of a Corporation”[v] in which 181 of the top CEOs in the US committed to satisfy all their stakeholders, still does not show how this can be achieved simultaneously.

And what if the solution to social value generation by businesses lay in not pursuing profits at all? What if, as a result—and in a complete reversal of the sequence according to Adam Smith—such businesses outperformed their competitors economically? And what if it was a bank—among all the possible businesses—that was actually to put this into practice?

To continue reading 

Notre interview pour la chaîne Workwell sur l’entreprise libérée et l’entreprise altruiste

Notre interview pour la chaîne Workwell sur l’entreprise libérée et l’entreprise altruiste

Nous avons eu le plaisir d’être interviewé par la chaîne Workwell sur la mise en place de l’entreprise libérée et la transformation vers l’entreprise altruiste :

 

Entretien dans l’emission « Way! of trailblazer » sur l’entreprise libérée et l’entreprise altruiste (26′)

Entretien dans l’emission « Way! of trailblazer » sur l’entreprise libérée et l’entreprise altruiste (26′)

Nous avons eu le plaisir d’être interviewé dans l’émission way! of trailblazer au nom du livre de Marc Benioff, le patron très engagé de Salesforce.

Nous’y avons parlé à la fois de l’entreprise libérée et de l’entreprise altruiste.

Altruistic companies during the COVID-19 pandemic

Altruistic companies during the COVID-19 pandemic

A lesson in creating successful companies that care

The COVID-19 pandemic is highlighting how altruistic businesses adapt, remain flexible, and survive.

Strategy+Business,

 

In mid-March, COVID-19 locked down most of Europe and Asia. For Sterimed, a 900-employee maker of high-end sterile medical packaging, this development brought mixed news. The sudden 40 percent increase in demand for its products was welcome, but ramping up production within its French plants posed a real challenge. One element was particularly thorny: Procuring protective masks for workers was impossible in France.

Because it refused to endanger its employees, Sterimed needed masks. Having sold its products to China for years, it quickly realized that one of its Chinese clients was indeed producing protective masks and could send several boxes of free samples, which didn’t infringe on China’s ban on the commercial export of masks. Sterimed ended up with more masks than it needed, and CEO Thibaut Hyvernat immediately thought he could pass them on. “I started calling my friends who run businesses and began sharing some of the spare masks,” he told us. Then, something struck him: “Instead of helping several dozen friends, I could help 20 million friends!”

You can read the full article on strategy-business.com.

Pin It on Pinterest