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The Power of And
Book

The Power of And

Responsible Business Without Trade-Offs

R. Edward Freeman, Bidhan Parmar and Kirsten Martin
Columbia Business School Publishing, 2020

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Editorial Rating

9

Qualities

  • Analytical
  • Applicable
  • Concrete Examples

Recommendation

Traditionally, businesses existed only to make money and please their stockholders. Professors R. Edward Freeman, Kirsten E. Martin and Bidhan L. Parmar argue that companies today seek to be more purpose-driven and ethical. They discuss five ideas business leaders are pursuing now: making purpose as important as profits, creating value for all stakeholders, working to improve society and reduce environmental impact, realizing the complexity of human nature, and merging business and ethics.

Take-Aways

  • Wise businesses leaders seek purpose, create stakeholder value, participate in society, embrace human complexity and merge business with ethics.
  • The old story of business is incomplete and doesn’t embrace today’s altruism.
  • Today’s business leaders set goals for profits and purpose.

About the Authors

R. Edward Freeman and Bidhan L. Parmar are professors at the University of Virginia Darden School of Business. Kirsten E. Martin is a professor at the George Washington University’s School of Business.

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