Report from IMPACT 2023: Alex Edmans on the Power of Purpose in Business

September 22, 2023

ECI’s IMPACT 2023 was one of the leading compliance events in 2023. At this conference, Tom Fox, the Voice of Compliance, was able to visit with several of the speakers, exhibitors, participants and one group of ethically minded Girl Scout Troop. In this limited podcast series, Report from IMPACT 2023, Tom explores many of the most cutting-edge topics in ethics and compliance through short podcast episodes. Check out the full series of interviews. You will be enlightened, informed and come away with a fuller and more thorough understanding of the most cutting-edge topics in ethics and compliance. In this episode, Tom visits Alex Edmans, a renowned author and Professor of Finance at the London Business School.

Edmans brings a wealth of knowledge from his background in finance and his experience as an investment banker at Morgan Stanley. Over his 15 years of teaching, Edmans has developed unique insights into the power of purpose-driven businesses and their impact on society. He believes that purpose and profit are intertwined, with purpose-driven businesses that address societal challenges ultimately generating profits. Edmans emphasizes that ethics is not just about avoiding harm, but also about actively doing good and solving societal problems. His insights are drawn from extensive research and real-world examples, demonstrating how purpose can drive innovation and profits. His seminal work Grow the Pie: How Great Companies Deliver Both Purpose and Profit, discusses his research and findings. Join Tom Fox and Alex Edmans on this episode of the Report from Impact podcast to delve deeper into the power of purpose in business.