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Report from IMPACT 2023

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

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.

 Highlights Include 

·      Research and writing, Grow the Pie: How Great Companies Deliver Both Purpose and Profit

·      The power of purpose in business

·      Innovations in the workplace

 Resources 

Alex Edmans

Grow the Pie: How Great Companies Deliver Both Purpose and Profit

ECI

Categories
FCPA Compliance Report

Professor George Serafeim on Purpose + Profits

In this episode of the FCPA Compliance Report, I am joined by Harvard Business School Professor, author of the book Purpose + Profits, How Business Can Lift Up the World. Some of the highlights include:

1.     Why this book and why now?

2.     His personal journey to ‘purpose.’

3.     Is this book an extension of his earlier work around white-collar crime and anti-corruption compliance?

4.     What trends bring together both business goals and broader societal goals?

5.     How did technology and social media help this change?

6.     What is the role of Gen Xers and Millennials?

7.     How can or should a company data analytics into this change?

8.     What are the 6 archetypes of value creation?

9.     What is the Southwire “12 for Life” story?

10.  Why did your student’s attempt to replicate it fail, and what lessons did you draw from that failure?

Resources

George Serafeim at the Harvard School of Business

George Serafeim on Linkedin

Purpose + Profits on Amazon.com

Categories
Daily Compliance News

August 19, 2022 the Back Off Edition

In today’s edition of Daily Compliance News:

  • Razak’s lawyer can’t withdraw. (Bloomberg)
  • DOJ wants other FirstEnergy investigations to ‘back off.’ (Ohio Capital-Journal)
  • JBS shakes up the compliance team. (WSJ)
  • Purpose-driven, then not. (Reuters)