Experts Jay Jakub, Raj Sisodia, and Bob Chapman discuss the movement for stakeholder capitalism, highlighting the need for systemic change. They explore the shift from profit-driven models to stakeholder-centric approaches, emphasizing trust, inclusivity, and sustainability. The podcast delves into the challenges and benefits of embracing stakeholder capitalism in business and the importance of collaboration for a better future.
Transitioning to stakeholder capitalism involves shifting focus from maximizing shareholder returns to systemic transformations in business behavior.
Companies must embody essential competencies like transparency, inclusivity, and solving societal problems to operate in the new stakeholder capitalism paradigm.
Deep dives
The Journey Towards Stakeholder Capitalism
The podcast episode delves into the journey towards stakeholder capitalism, where individuals aiming to make a positive impact on the world shifted their focus from traditional political battles towards a new paradigm. Transitioning from the old ways of maximizing shareholder returns to a more inclusive model, they forged global movements striving for systemic transformations in business behavior. Collaboration among various initiatives like Conscious Capitalism and B Corps under imperative 21 emphasizes the urgency and necessity of this shift towards stakeholder capitalism.
Essential Competencies of Stakeholder Capitalism
The episode outlines six essential competencies of stakeholder capitalism that companies must embody to operate in the new business paradigm. These competencies include building trusting partnerships through transparency, cultivating talents for individuals' growth, dismantling discrimination for inclusivity, focusing on financial security for all, conserving resources for future generations, and solving specific societal problems. The discussion highlights the ongoing journey for companies to adopt these competencies fully, acknowledging the gradual nature of the transition.
Call to Action for Transitioning to Stakeholder Capitalism
The episode concludes with a call to action, emphasizing the necessity for companies to transition to stakeholder capitalism by standing up for what is possible and refusing to accept anything less. It advocates for leaders to drive this change by aligning with a purpose that focuses on improving systems, behaviors, and ultimately the world. By engaging in an immersive transformation program like the Intrapreneur Accelerator, companies can accelerate their shift towards stakeholder capitalism and contribute to meaningful change.
Originally released on November 8, 2020, Episode 9 departs from the format of the other episodes in the series to discuss the state of the movement for stakeholder capitalism, and the systems that will need to be addressed to accelerate progress. Jay Jakub from Episode 1, Raj Sisodia from Episode 2 and Bob Chapman from Episode 5 return to share their perspectives.
Episode 9 is also a reveal of sorts in which Amanda and Nathan pull back the curtain on the structure of the podcast, revealing a comprehensive and ambitious definition for Stakeholder Capitalism.
LET’S EMBED THE PODCAST UP HERE THIS TIME
The collaboration between many of the leading entities in this broad movement is called Imperative 21: https://www.imperative21.co/about-the-network/ and at the time of publishing, their members include: