Edmans Grow the Pie

How Great Companies Deliver Both Purpose and Profit
Erscheinungsjahr 2020
ISBN: 978-1-108-84948-7
Verlag: Cambridge University Press
Format: PDF
Kopierschutz: Adobe DRM (»Systemvoraussetzungen)

E-Book, Englisch, 0 Seiten

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 book explains how to embed purpose into practice so that it's more than just a mission statement, and 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.

Autoren/Hrsg.

Edmans, Alex

Fachgebiete

• Wirtschaftswissenschaften Betriebswirtschaft Unternehmensorganisation, Corporate Responsibility Unternehmensethik
• Geisteswissenschaften Philosophie Angewandte Ethik & Soziale Verantwortung Wirtschaftsethik, Unternehmensethik
• Wirtschaftswissenschaften Betriebswirtschaft Unternehmensorganisation, Corporate Responsibility Unternehmenskultur, Corporate Governance
• Wirtschaftswissenschaften Finanzsektor & Finanzdienstleistungen Anlagen & Wertpapiere

Inhaltsverzeichnis

Introduction; How to read this book; Part I. Why grow the pie? Introducing the idea: 1. The pie-growing mentality: a new approach to business that works for both investors and society; 2. Growing the pie doesn't aim to maximise profits – but often does: freeing a company to take more investments, ultimately driving its success: 3. Growing the pie doesn't mean growing the enterprise: three principles to guide trade-offs and which projects to turn down; 4. Does pieconomics work?: data – not wishful thinking – shows that companies can both do good and do well; Part II. What grows the pie? Exploring the evidence: 5. Incentives: rewarding long-term value creation while deterring short-term gaming; 6. Stewardship: the value of engaged investors that both support and challenge management; 7. Repurchases: investing with restraint, releasing resources to create value elsewhere in society; Part III. How to grow the pie? Putting it into practice: 8. Enterprises: the power of purpose and how to make it real; 9. Investors: turning stewardship from a policy into a practice; 10. Citizens: how individuals can act and shape business, rather than be acted upon; Part IV. The bigger picture: 11. Growing the pie more widely: win-win thinking at the national and personal levels; Conclusion; Action items; Appendix; Acknowledgements; Endnotes; Index.

Über Autor(innen)

Edmans, Alex
Alex Edmans is Professor of Finance at London Business School and a leading authority on reforming business to serve the common good – but using solutions based on rigorous evidence and recognising the importance of both investors and stakeholders. He has spoken at the World Economic Forum in Davos, testified in the UK Parliament, presented to the World Bank Board of Directors as part of the Distinguished Speaker Series, and given the TED talk 'What to Trust in a Post-Truth World' and the TEDx talk 'The Social Responsibility of Business'. He also serves as Mercers School Memorial Professor of Business at Gresham College, London, where he gave a public lecture series on 'How Business Can Better Serve Society'. He has published in all the leading academic finance journals, written for the Financial Times, Wall Street Journal and Harvard Business Review, and appeared live on Bloomberg, BBC, CNBC, CNN, ITV, and Sky News.