Firms of Endearment: How World-Class Companies Profit from Passion and Purpose (2nd Edition)
“This new edition ofFirms of Endearmentcontinues 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 VirginiaToday’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, authenticfirms of endearmentact 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, andsucceed 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 seekingJoin capitalism’s radical social transformation—or fall by the waysideDon’t just talk about creating a happy, productive workplace: do itHonor the unspoken emotional contract you share with your stakeholdersCreate partner relationships that really are mutually beneficialBuild a company that communities welcome enthusiasticallyHelp 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 Endearmentpoints 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 Editionreveals 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 tobuy 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.