Business Drivers Redefined: The Argument for Character-based Capitalism
A Forbes Magazine article, “The New Business Drivers: Corporate Character and Social Capitalism,” (May 4, 2021) stated, “The difference between words and actions in any company comes down to character.” It further claims, “CEOs and their leadership teams are under intense pressure not just to grow but to grow while doing right by society and the planet.” How are you using “character” to do right throughout your company and with those you serve?
Company leaders cannot ignore COVID’s pervasive impact because the resulting challenges, such as higher wages, employee shortages, supply chain disruptions, and remote working, have shaken business operations to the core. Growth and profitability have suffered, demanding more effective approaches to relationships with all stakeholders-employees, customers, suppliers, shareholders, and communities.
Solutions to these challenges require strong leadership throughout an organization—not just from the top – as well as the right culture to bind and guide companies for the right purposes. Character-based Capitalism is the RIGHT culture because it’s about making more money by doing what is right for all stakeholders, which includes the communities in which we operate and live as well as the planet on which we exist.
In our last three LinkedIn Live events on #organizationalculture, #organizationalcharacter, and #organizationalleadership, Nicole Martin and I built the foundation for today’s topic, which holds the answers to the question and challenges above. Character-based Capitalism:
- Rejects the notion of shareholder capitalism, that business is a zero-sum game, i.e., serving other stakeholders diminishes returns to shareholders.
- Focuses on long-term profitability that increases when employees are engaged, customers are loyal, and suppliers as well as communities are collaborative.
- Combines the entrepreneurial spirit of capitalism with character that puts values such as trust and caring into action.
- Fosters collaboration that drives greater innovation and productivity for sustained growth and profitability.
Join us for another dynamic discussion titled, Business Drivers Redefined: The Argument for Character-based Capitalism, on Tuesday, May 16, 2023, at 11 AM Central. We will “connect the dots” and weave the tapestry of these four leadership sessions together to deliver the true power behind the knowledge we’ve shared. This Live event is for business leaders who want to achieve sustainable excellence for their people, their companies, and the communities they serve. Please register for the event to join in the conversation!
Author: Dr. Ray Benedetto
Dr. Ray is an executive change leader with distinguished expertise in leadership, strategic development, change and merger management, and customer-focused, continuous quality improvement. With over 40 years of experience in this field, Dr. Ray has mastered the ability to uncover the important aspects of leadership and management in public and private sectors and how to effectively execute transformative leadership across all organizational levels.
