10 Things You Should Know about Stakeholder Capitalism
In 2019, the Business Roundtable announced that the purpose of business was no longer to maximize profits for shareholders. The new purpose of business would be to maximize value for stakeholders. While the announcement was applauded by many, charges of hypocrisy quickly followed as the practices of many Business Roundtable member companies suddenly seemed to contradict the new more egalitarian purpose they had proclaimed.
A year later, if anything is becoming clear, it is that what the world is coming to know as “stakeholder capitalism”, lacks a clear definition against which to assess the performance of a firm, or even an economy.
This lack of definition is not the result of a lack of attempts. For years a wide variety of thought leaders and pioneering practitioners have been refining models and frameworks to define a new paradigm for business. But none has broken into the mainstream.
In response to this situation, a team comprised of members from a variety of organizations working within the “business as a force for good” movement attempted to create a common definition of the end-state they were all working to achieve. Their work resulted in a brand-agnostic framework, endorsed by all, that identified six essential competencies of a business in the new paradigm.
In 10 binge-able episodes, this podcast will introduce, illustrate and popularize an ambitious and actionable definition for stakeholder capitalism.
Producers/Hosts
Amanda Kathryn Roman is a life-long convener and builder of infrastructure to scale a wide variety of movements you’ve heard of, and some you have not. Most recently she was the Chief Innovation Office for Conscious Capitalism where she joined the frenzy of activity happening all around the world to catalyze an expanded paradigm of capitalism. In 2018, she and Nathan Havey co-founded the year-long, comprehensive certification program for consultants of Conscious Capitalism
Nathan Havey has been a leader of, participant-in content provider for, and strategic consultant to many of the major entities in the “business as a force for good movement”. A host and storyteller by training and passion, he has produced powerful live storytelling experiences in more than a dozen US cities and he wrote and directed the upcoming feature documentary Beyond Zero, and has been learning and refining a library.
Nathan and Amanda believe that each of the stories in this mini-series should be legend in business circles, and yet they are continually shocked to meet people, including some of the celebrity-status thought leaders and pioneering practitioners in their circles are unaware that these stories exist. That must change.
Latest episodes
Nov 13, 2020 • 33min
BIGGBY COFFEE
Explore the journey of BIGGBY COFFEE towards Stakeholder Capitalism, emphasizing purpose-driven business, employee engagement, corporate culture transformation, and the power of storytelling in driving change.
Nov 7, 2020 • 25min
The State of the Movement
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.
Oct 31, 2020 • 29min
Cafe Momentum
Discover the inspiring story of Cafe Momentum, a restaurant in Dallas offering internships for youth post-release from juvenile detention. Explore the impact of stakeholder capitalism and the transformative journey of individuals like Abhisai from jail to NASA. Learn how small businesses like Cafe Momentum can make a big impact in addressing real-world challenges and creating positive change.
Oct 25, 2020 • 27min
TRU Colors
Serial entrepreneur George Taylor discusses the story of TRU Colors Brewery, co-founded by rival gang leaders, promoting peace and providing jobs. The company's culture, led by Khalilah Olokunola, focuses on ending gun violence. Lessons on stakeholder capitalism and impact investing are highlighted, showing how marginalized individuals thrive in a supportive workplace environment.
Oct 17, 2020 • 21min
Televerde
Formerly incarcerated individual Christin Swansinger shares her experience with reoffending and the prison system. The podcast explores Televerde, a call center operating in prisons, offering inmates opportunities for success post-release. It showcases stories of redemption, self-worth, and overcoming challenges, shedding light on systemic discrimination and the power of stakeholder capitalism.
Oct 10, 2020 • 22min
Barry Wehmiller
CEO Bob Chapman of Barry Wehmiller shares how creating a culture of trust and care led to profitable growth through 110 acquisitions. Their approach prioritizes human development, resulting in major performance advantages. The transformation of workplace culture at Barry Wehmiller has led to increased employee well-being and fulfillment, as detailed in the book 'Everybody Matters'.
Oct 3, 2020 • 27min
Interface
Explore the journey of Interface from a petroleum-dependent company to an environmental leader, reducing carbon footprint by 96% and inspiring a new business model. Learn about nature-inspired carpet tile installations, the shift towards sustainability in companies, and a personal reflection on battling cancer. Discover how stakeholder capitalism can drive innovation and positive environmental impact in the business world.
Sep 26, 2020 • 18min
Bags Fly Free
Marianne Malina, President of GSD&M, discusses Southwest Airlines' strategic decision to offer free checked bags, defying industry norms for customer satisfaction. The key to success lies in prioritizing stakeholder value and rejecting trade-off choices, leading to innovation and long-term success in stakeholder capitalism.
Sep 19, 2020 • 20min
The Firms of Endearment
Author Raj Sisodia discusses stakeholder capitalism practices leading to 14 to 1 performance advantage. The podcast explores customer loyalty, community support in business recovery, values-driven companies, and empowerment through authenticity for success.
Sep 13, 2020 • 24min
Stakeholder Capitalism and The Economics of Mutuality
Jay Jakub, discusses the story behind the Economics of Mutuality. The podcast explores contrasting views on the social responsibility of business, introduces stakeholder capitalism and the story of Mars Corporation. It discusses the need for a new business model that incorporates non-financial forms of capital. The chapter provides an introduction to the series on stakeholder capitalism and encourages listeners to share the podcast.
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