The Beautiful Business Podcast · 2023-11-15 · 28 min
In this thought-provoking episode, Peter Czapp speaks with renowned finance professor Alex Edmans from London Business School on the intersection of profit and purpose in businesses. The discussion kicks off with the central question: How can businesses maximise profit while remaining purposeful? Professor Edmans explains the idea that businesses guided by purpose not only contribute positively to society but also make sound economic decisions. Professor Edmans emphasises the importance of defining a focused and targeted purpose for businesses, debunking the myth of solving all the world's problems. The conversation offers practical guidance on how businesses can authentically define and measure their purpose, with a focus on meaningful key performance indicators. The discussion also explains the role of individuals within businesses, showcasing the power of every individual to create positive change.The episode deep dives into the relationship between purpose and profit, challenging the traditional mindset that views them as conflicting objectives.
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