Today’s best companies get it. From retail to finance and industries in between, the organizations who recognize that doing good is good business are becoming the ultimate value creators. They’re changing their culture and generating every form of value that matters: emotional, experiential, social, and financial. And they’re doing it for all their stakeholders. Not because it’s simply politically correct, because it’s the only path to long-term competitive advantage.
These are the firms of endearment. Companies people love doing business with, working for and collaborating with as partners. Since the publication of the First Edition, the concept of corporate social responsibility has become embraced as a valid, important, and profitable business model. It is a trend that has transformed the workplace and corporate world. This Second Edition updates the examples, cases, and applications from the original edition, giving readers insight into how this hallmark of the modern organization is practiced today.
From the Back Cover
“This new edition of Firms of Endearment continues to break important new ground in understanding the power of capitalism to transform our world for the better. In the first edition, the authors… gave us an introductory quantitative analysis, and a set of rich stories that made the analysis make some sense. Now, they take a giant step forward. They give us a ’proof of possibility,’ grounding a new story of business in solid economic analysis and practical management thinking.”
—R. Edward Freeman, University Professor, The Darden School, University of Virginia
Today’s greatest companies are fueled by passion and purpose, not cash. They earn large profits by helping all their stakeholders thrive: customers, investors, employees, partners, communities, and society.
These rare, authentic firms of endearment act in powerfully positive ways that stakeholders recognize, value, admire, and even love. They make the world better by the way they do business—and the world responds.
They have created radically new rules. This extensively updated book will help you master those new rules, learn from their newest experiences, build your great firm of endearment, change the world, and succeed on every level that matters.
- Build a high-performance business on love (It can be done. We’ll prove it.)
- Help people find the self-actualization they’re so desperately seeking
- Join capitalism’s radical social transformation—or fall by the wayside
- Don’t just talk about creating a happy, productive workplace: do it
- Honor the unspoken emotional contract you share with your stakeholders
- Create partner relationships that really are mutually beneficial
- Build a company that communities welcome enthusiastically
- Help all your stakeholders win, including your investors
“Business has enormous potential to do good in the world. Much of the good is currently being done ‘unconsciously’ simply by creating products and services that people value, providing jobs, and generating profits. However, business can also be done much more consciously, with higher purpose and optimal value creation for all major stakeholders, while creating cultures that optimize human flourishing... Firms of Endearment points the way that all businesses should aspire to emulate and ultimately transcend. I am grateful to the authors for their landmark contribution...”
—John Mackey, Co-founder and Co-CEO, Whole Foods Market
Contains Dozens of New & Updated Case Studies Chosen through a Rigorous New Selection Process
Doing good is great business. In industry after industry, today’s best companies have discovered this—and they’re leaving their short-sighted competitors in the dust.
Firms of Endearment, Second Edition reveals how these remarkable companies are generating more of every form of value that matters: emotional, experiential, social, and financial. Not because it’s “politically correct,” but because it’s the only path to long-term competitive advantage.
These are companies people love to buy from, work for, and partner with. While others struggle, they are helping all their stakeholders thrive—and the marketplace has consistently recognized and rewarded them for it.
This extensively updated book will help you apply the hard-won lessons these companies have learned over years, even decades. You’ll learn how to combine a human-centered vision, resolute management, and an unswerving commitment to do right by everyone you touch—and how to translate these elements into astonishing levels of performance.