Is the Ultimate Strategy Right for Your Business?
If you are thinking about building a marketing strategy for the coming year, this post from Kaihan Krippendorff’s company blog may have the direction you need. The “ultimate strategy” is explained and explored.
Is “be good” a part of your 2021 strategy? If not, you should reconsider.
When I was in business school, we learned that companies exist to do one thing: maximize shareholder value. At Outthinker, we’ve been talking for years about how this belief has become defunct. Companies are realizing that focusing solely on shareholder value creates resistance to growth that ultimately diminishes value to those shareholders.
A better strategy is one that aims to help shareholders by benefiting all stakeholders: the community, employees, the government, the environment, and the world.
Becoming a force for good is the ultimate strategy.
The Pope on Big Business
Last week, in an unlikely pairing, Pope Francis met with a group of businesses, investors and other groups to form the Council for Inclusive Capitalism with the Vatican. The council, whose leaders include Ajay Banga of Mastercard, Marc Benioff of Salesforce, and Brian Moynihan of Bank of America, intends to create a more just economic system and address the biggest challenges facing humanity and our planet. Their commitment to focus on environmental, social, and governance, or ESG, practices in business reflects a growing global trend and a serious step forward for the “be good” movement.
I have gotten to speak with some of these leaders personally, and I can assure you their intentions are authentic. Why? Because they make business sense.
Key points include:
- Top consumer trends for 2021
- The importance of company values
- How to generate innovative strategic ideas
Read the full post, The Pope, Big Business, and the Future of ESG, on Outthinker.com.