Exploring Leaders by Digoshen Purpose & Profit with Professor George Serafeim
Nov 8, 2022
Professor George Serafeim, Harvard Professor, Board Member and Advisor, discusses balancing corporate purpose with profit and building profitable purpose-driven organizations. He explores the challenges and opportunities in creating companies that positively impact society. Topics include impact accounting, aligning reporting with strategy, and the importance of understanding the distinction between strategy and operational effectiveness.
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Greek Roots Shaped His Values
- George Serafeim grew up in Athens and says Greek philosophical values shaped his emphasis on transparency and accountability.
- He links transparency to accountability and accountability to meritocracy in organizations and society.
Tech And Social Media Raised Transparency
- Technology and social media have dramatically increased transparency across value chains.
- Higher visibility reshapes risk management, product innovation, and organizational accountability.
Purpose And Profit Are Interdependent
- Purpose and profit are interconnected: purpose is the destination and profit the fuel to reach it.
- Losing balance between them can destroy both the mission and the business.