Betterness: Economics for Humans (Kindle Single) by Umair Haque

Author:Umair Haque
Language: eng
Format: mobi
Publisher: Harvard Business Review Press
Published: 2011-12-14T14:00:00+00:00

Responsibility is strongly associated with greater profitability, equity and asset returns, and shareholder value creation. But that’s no longer good enough. Today, the bar is being raised; success is itself changing. Those are yesterday’s definitions of success, and more importantly, arcing toward betterness lets companies begin outperforming on tomorrow’s measures of success, which are going to hinge on the creation of real wealth.

2. The corporation as you know it is probably obsolete

Think all I’ve said sounds like sci-fi? Think again. The groundswell in new kinds of corporate forms is gaining steam. Consider the rise of “for-benefit” corporations. They’re a new kind of corporate form, built from the ground up to create wealth, instead of being tiresomely legally bound to return maximum profit to shareholders. Imagine, for a moment, the new organizational possibilities that the novel legal and contractual design of these organizations opens up, where bonuses are tied to marginal wealth attained by people, communities, and society, roles are created to manage benefits (think “chief impact officer”), and transparent accounts demonstrate real, meaningful benefits, not earnings. You’d have an organization geared to do explosively more than just buy and sell crap that’s slightly updated every year or so, on yesterday’s moldy old terms. You’d have instead an organization tuned not just to make stuff, but to have real relationships, to meaningfully enhance lives, to push the boundaries of elevating human potential, to laser-lock on to creating wealth, to do all the above in ways that matter, count, last, endure, inspire, amaze, and delight—and to do all the above habitually, consistently, and repeatedly.

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