How Big Business Can Fix the World
Episode Description
Often perceived as acting in ways that harm the economy, society and the environment due to a short-term focus on profits, big business is now starting to use its power for long-term good, according to Lucy Parker and Jon Miller, authors of Everybody's Business: The Unlikely Story of How Big Business Can Fix the World.
In an interview with Wharton management professor Witold Henisz, Parker and Miller explain why a new norm is evolving and why some of the very companies that have been singled out for "crimes and misdemeanors" are leading the way in creating a focus where doing good is at the core, rather than at the periphery, of their businesses.
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Brief Summary
Lucy Parker and John Miller discuss how big businesses can positively impact society despite skepticism and challenges.
Key points
- The Unlikely Story of Business. Exploring how big business can be a force for good in the world.
- A New Narrative for Corporations. The book aims to shift the focus from corporate wrongdoing to positive contributions.
- Transformative Journeys of Companies. Many companies have undergone significant changes after facing crises.
- The Role of Business in Society. Exploring how businesses can shift their perspective to become part of the solution.
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Episode highlights
- The Unlikely Story of BusinessExploring how big business can be a force for good in the world.“Big businesses can also be powerful positive engines for social change.”1:12Mar 28, 2014
- A New Narrative for CorporationsThe book aims to shift the focus from corporate wrongdoing to positive contributions.“This is an antidote to the negative headlines about corporate wrongdoing.”8:16Mar 28, 2014
- Transformative Journeys of CompaniesMany companies have undergone significant changes after facing crises.“A lot of companies that we talk about have been through a dark night of the soul.”12:51Mar 28, 2014
- The Role of Business in SocietyExploring how businesses can shift their perspective to become part of the solution.“It's about reconnecting business to society.”18:29Mar 28, 2014
