Firms of Endearment. How World-Class Companies Profit from. Passion and Purpose. Second Edition. Raj Sisodia. Jag Sheth. David Wolfe. Identifying Firms of Endearment. Here is how we identified the companies featured in this book. Our process can be described as “organic and. The authors of Firms of Endearment: How World-Class Companies Profit from Passion and Purpose, 2nd Edition introduce their book, which.
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Today’s greatest companies are fueled by passion and purpose, not cash. They earn large profits by helping all thier stakeholders thrive: 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 had 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.
Check out the new rules. Raj Sisodia is the F. He is also co-founder and co-chairman of Conscious Capitalism, Inc. He has a Ph. Raj has published seven books and more than academic articles. For more details, see www. Jag Sheth is the Charles H.
He has published 26 books, more than articles, and is nationally and internationally known for his scholarly contributions in consumer behavior, relationship marketing, competitive strategy, and geopolitical analysis. This book has been translated into five languages and was the subject of a seven-part television series by CNBC Asia.
He is also on the Board of Directors of several public companies. Inhe was honored with the two highest awards bestowed by the American Marketing Association: Wolfe The late David B. Wolfe was an internationally recognized customer behavior expert in middle-age and older markets. He was widely published in publications in the U. Check out what management experts have to say about the book. The future is disorder. A door like this has opened up only five or six times since we got up on our hind legs.
This book reaches the public eye at the dawn of a new era in human history—perhaps more so than any previous era that inspired historians to give it a name signifying its import.
Looking back hundreds of years—thousands of years, say some1—this new era may be unmatched in the scale of its effect on humankind. Numerous credible authors have testified in their writings that something this big is happening.
The next year, British economist Firsm Simpson claimed that macroeconomics had outlived its usefulness in The End of Macro-Economics Then, science writer John Horgan ticked off legions of scientists with his provocative book The End of Science That same year, Ov Laureate chemist Ilya Prigogine told us in The End of Uncertainty of an imminent broad-reaching shift in scientific worldview that would make much of what stands as scientific truth today scientific myth tomorrow.
So many endings must mean so many new beginnings. Around the start of the s, virtually no major field of human endeavor was spared from predictions of its ending—not literally, but certainly in terms of past conceptualizations of its nature.
The world of business is no exception. It is experiencing far-reaching changes in our understanding of its fundamental purposes and how companies should operate. Indeed, looking at the magnitude of change in the business world, it is not overreaching to suggest that an historic social transformation of capitalism is underway.
Twenty or so years ago, just as the Internet was going mainstream, few could have credibly predicted the scale of enderment transformation. In this book, we provide some measure of that scale by profiling companies that have broadened their purpose enearment the creation of shareholder wealth to act as agents for the larger good. We view these companies not as outliers but as the vanguard of a new business mainstream. We call this era of epochal change the “Age of Transcendence.
Subjective perspectives based on how people feel have gained greater acceptance in recent times.
Firms of Endearment | Second Edition
Others have taken note of the rising subjectivity of worldviews. One is French philosopher Pierre Levy, who has devoted his professional life to studying the cultural and cognitive impacts of digital technologies. He believes that the shift toward subjectivity may prove to be one of the most important considerations in business in this century. The dramatic upsurge of interest in spirituality in the U.
People who lead companies are not insulated from the influences of culture. After all, they drink from the same cultural waters as the customers they serve and the employees they lead. It is a vision that transcends the narrower perspectives of most companies in the past, rising to embrace the common welfare in its concerns.
They are resolute and highly successful business professionals who augment their human-centered company vision with sound management skills and an unswerving commitment to do good by all who are touched by their companies. These executives are driven as much by what they believe to be right subjectively grounded morality as by what others might more objectively claim to be right.
Ponder for a moment what the results of a Conference Board survey say about the moral outlook in executive suites across the country. Seven hundred executives were asked why their companies engaged in social or citizenship initiatives.
Only 12 percent mentioned business strategy. Three percent mentioned customer attraction and retention, and one percent cited public expectations. The remaining 84 percent said they were driven by motivations such as improving society, company traditions, and their personal values. More likely, we believe, most simply feel in their gut what they should be doing. This is how movements and revolutions unfold: What we write about in this book is a powerful movement if not altogether a revolution.
We are poised precariously at what physicists call a bifurcation point—an interregnum of normalcy between the poles of death and birth or rebirthwhen an old order faces its end and a new order struggles to emerge from its fetal state. At such times, the future becomes more uncertain than usual because events within the time and space boundaries of a bifurcation point have infinite possible outcomes. Humankind is entering a realm where no one has gone before.
We call the first cultural era in America the “Age of Empowerment. That these two epochal events in human history occurred in the same year is an extraordinary historic coincidence. The former event was about a free society, the latter about free markets. Joined at the hip, democracy and capitalism marched into the future to bring forth a whole new world, one that would elevate the lot of the common man to heights never experienced or imagined before in human history.
For the first time in history, ordinary people were empowered by codified law to shape their own destinies. People born without social distinction could raise themselves from abject poverty to the highest public and private offices. A free market economy aided their efforts.
As decades went on, millions of families rose out of subsistence existence. The aristocratic culture of Europe may have generated great philosophic thinking in the Age of Enlightenment, but common folk in America generated great material accomplishment in the Age of Empowerment. By the end of the Age of Empowerment, which we mark aroundAmerica was connected coast-to-coast by telegraph lines, railroads, a single currency, and a national banking system that the Lincoln presidency had established.
Another great accomplishment of the Lincoln administration was the establishment of the land grant college program that increasingly brought the benefits of higher education to the masses. The nation was primed for its next great cultural era. The intellectual and economic liberation of the masses paved the way for the Age of Knowledge. Within a half-dozen years ofAlexander Graham Bell invented the telephone, and Thomas Edison invented the phonograph, the first practical incandescent light bulb, and the first central electrical power system.
During the Age of Knowledge, the U. Science exploded into daily life. The time from laboratory prototype to the marketplace came to be often measured in months instead of decades. Great scientific breakthroughs spawned great industries.
And great industries created the modern consumer economy.
Economic gains across society raised living standards to previously unimaginable heights. Childbirth and childhood deaths became rarities. Life expectancy in the U.
Business management took a seeming leap forward in the early years of the twentieth century when Frederick Winslow Taylor introduced scientific discipline to the practice of management in Scientific Management Sloan invented the modern corporation after becoming president of General Motors in Walter Thompson advertising agency to establish the first consumer research center in the nation.
Science now undergirded the full spectrum of business—from product design and organizational management, to consumer research and marketing. Ever since Ransom E. For a long time, this served society well. Quality of life steadily rose while the cost of living steadily fell. The material wellbeing of ordinary people reached astonishing levels. Materialism became the bedrock of business, society, and culture.
Firms of Endearment: How World-Class Companies Profit from Passion and Purpose
In time, however, preoccupation with productivity endeamrent cost cutting to improve bottom lines began to take a toll on communities, workers, their families, and the environment. Scores of communities fell into economic disrepair as companies abandoned encearment for venues promising lower operating costs. Legions of families endured abject suffering as their breadwinners struggled to find new jobs. Life was sucked out of villages, towns, and center cities across the nation.
Sprawling slums filled with the carcasses of abandoned factories became unwelcoming neighborhoods. The pro-business argument was simple: To reap the benefits of capitalism, society must tolerate the pain it sometimes causes people on the lower rungs of society.
But growing numbers are now wondering, “How much more pain do we endearmen to live with? They feel that most companies see them as just numbers to be controlled, manipulated, and exploited.