Purpose and Profit: How Business Can Lift Up the World

Are purpose and profit in conflict, or can both be achieved simultaneously with the right mindset and tools?

What are the forces that are reshaping the relationship between the two? What can we all do to strengthen the relationship between purpose and profit as entrepreneurs, managers, employees, consumers, and investors? Backed by cutting-edge research, Purpose and Profit provides answers to these fundamental questions that are increasingly defining the business landscape all around the world. Distinguished Harvard Business School Professor George Serafeim takes readers on a research-driven journey to understand:

• How and why environmental and social issues are becoming increasingly relevant for organizations worldwide;
• The ways that companies can design and implement strategies that generate greater impact;
• The six archetypes of value creation enabled by these new trends;
• The role of investors in driving greater recognition of ESG issues; and
• How we can all look at the choices we make and careers we pursue in a way that maximizes purpose and profit in our own lives.

ISBN-13: 9781400230358

Media Type: Hardcover

Publisher: HarperCollins Leadership

Publication Date: 08-09-2022

Pages: 224

Product Dimensions: 5.80(w) x 9.10(h) x 0.90(d)

George Serafeim is the Charles M. Williams Professor of Business Administration at Harvard Business School. One of the youngest faculty members to receive tenure at Harvard Business School, he has presented his research in more than 60 countries around the world, including to world leaders in government and business at events such as the World Economic Forum at Davos, the Aspen Ideas Festival, White House conferences on business leadership, the Securities and Exchange Commission, and the European Commission. He ranks among the top 10 most popular authors out of more than 12,000 business authors on the Social Science Research Network. A recognized leader, he has co-founded the leading business consulting firm KKS Advisors and is an academic partner at State Street Associates. He sits on the board of directors of Liberty Mutual, a Fortune 100 company, and the steering committee of the Athens Exchange Group. Prior to that he was a member of the inaugural Standards Council of the Sustainability Accounting Standards Board.

Table of Contents

Introduction vii

Part I Alignment: Creating Opportunity for Greater Corporate Purpose

Chapter 1 The Business of Being in Business: What Has Changed 3

Chapter 2 The Impact of the "Impact Generation" 19

Chapter 3 Transparency and Accountability: No More Secrets 41

Chapter 4 The Evolving Consequences of Corporate Behavior 63

Part II Execution: How to Implement Purpose-Driven Initiatives

Chapter 5 The Tactical Path to Profitably Doing Good 83

Chapter 6 The Archetypes of Opportunity: How Companies Capture Value 107

Chapter 7 Investors Driving Change: More Than Negative Screening 123

Chapter 8 Alignment: Now or Later? 147

Conclusion: The Future of Purpose and Profit 157

Acknowledgments 169

Notes 173

Bibliography 185

Index 193

About the Author 205