The mindset of having to sacrifice profit to serve a social purpose, or vice versa, is wildly outdated. Award-winning Harvard Business School Professor George Serafeim’s extensive research shows that when organizations embrace a strategic approach to managing environmental, social and governance (ESG) issues – and measure their progress – they can significantly boost their bottom line, reputation and ability to compete. His new playbook shows them how.
In his debut book, “Purpose and Profit: How Business Can Lift up the World” (HarperCollins Leadership, August 9, 2022), Serafeim applies his expertise in measuring, analyzing and driving performance on ESG issues to the goal of helping leaders reimagine capitalism to serve both shareholders and society. Named “one of the most influential people in ESG investing” by Barron’s, he distills years of research into an accessible and readable handbook for fusing business success with positive social impact.
Backed by more than 50 research papers and field studies from the past decade, as well as Serafeim’s practical experiences as an entrepreneur, board director and investor, “Purpose and Profit” offers a two-tiered approach to implementing an ESG strategy. First, the book breaks down trends that have brought together the aims of business and the goals of society in new ways. Serafeim then focuses on how companies, investors, and employees can use these trends to drive business growth and social change.
“Pursuing social goals and pursuing profit are becoming more aligned than ever before – for people at every level of an organization, at every age and in every industry,” says Serafeim, who actively helps leaders move beyond simply meeting regulatory requirements to capturing real value. “In a world that increasingly judges companies on their ESG performance, leaders must look to more fundamental drivers — particularly strategy — to achieve real results and be rewarded for them.”
In his engaging presentations, Serafeim reveals proven ESG strategies that have already been embraced in boardrooms around the world. As executives and managers are increasingly being tasked with addressing ESG issues, Serafeim’s ability to help leaders strategically and proactively plan forward offers firms a unique opportunity to reap significant returns while serving society.
In a time when positive societal impact and business profitability are equally important, it’s vital that leaders have strategies for achieving both. Stern connects you with renowned thought leaders whose insights, strategies and management frameworks help organizations fuel growth and disruptive innovation to better compete in a constantly changing world. Let us arrange for these esteemed experts to advise your organization via virtual and in-person consulting sessions, workshops and keynotes.