Books Details
Author : Alex Edmans Pages : 382 pages Publisher : Cambridge University Press
Language : ISBN-10 : 1108494854 ISBN-13 : 9781108494854
Books Descriptions
What is a responsible business? Common wisdom is that it's one that sacrifices profit
for social outcomes. But while it's crucial for companies to serve society, they also
have a duty to generate profit for investors - savers, retirees, and pension funds.
Based on the highest-quality evidence and real-life examples spanning industries and
countries, Alex Edmans shows that it's not an either-or choice - companies can create
both profit and social value. The most successful companies don't target profit
directly, but are driven by purpose - the desire to serve a societal need and
contribute to human betterment. The book explains how to embed purpose into
practice so that it's more than just a mission statement, and discusses the critical role
of working collaboratively with a company's investors, employees, and customers.
Rigorous research also uncovers surprising results on how executive pay, shareholder
activism, and share buybacks can be used for the common good.
