Digging Deeper: How Purpose-Driven Enterprises Create Real Value

Digging Deeper: How Purpose-Driven Enterprises Create Real Value


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What is the primary purpose of business? The standard answer is ‘making profits,’ but some visionary entrepreneurs and leaders fundamentally disagree. Instead of just making money, they choose instead to “dig deeper” and make a difference through creating real value – improving the lives of others even as they find deeper meaning in their own. These leaders build enterprises that provide identity and a sense of purpose, create positive relationships and a place to learn and thrive, embed sustainability in all that they do, and strive to improve the quality of life of all of their stakeholders. Although not their primary focus, they also make healthy profits, as their unique approach to value creation provides them with a sustainable competitive edge.Digging Deeper is a book full of inspiring stories that illustrate that there is an alternative to a myopic and narrow capitalism that trades in inequalities, exploitation, collective burnout and negative consequences for our shared natural environment. Remarkable examples from all over the world vividly demonstrate how enterprises can create real value through focusing on what the authors call the 6 Ls: long-term orientation, lasting relationships, local roots, limits recognition, developing a learning community and taking leadership responsibility seriously in its very best sense.Digging Deeper liberates the term “value” from the tight chains in which the global financial community has bound it and demonstrates that businesses can contribute to a better life for all ‒ if their leaders can go beyond viewing enterprises as single-purpose money-making machines and develop purpose-driven enterprises that create real value for all.

Product Details

ISBN-13: 9781783535392
Publisher: Taylor & Francis
Publication date: 01/31/2017
Pages: 272
Product dimensions: 5.80(w) x 8.20(h) x 0.70(d)

About the Author

Dietmar Sternad is Professor of International Management at Carinthia University of Applied Sciences.

James J. Kennelly is Professor of International Business & Management, Skidmore College.

Finbarr Bradley is a Lecturer and former Professor at University College Dublin Smurfit Graduate Business School.

Table of Contents

Figures viii

Foreword ix

Preface xiii

1 In search of real value 1

"The world's dumbest idea" 5

The real meaning of value 9

A tree full of value 11

The business case for creating real value 16

The roots of creating real value 20

From bottom line to betterment 30

2 Long-term orientation: creating value for generations 33

Over 250 years of real value creation at Faber-Castell 35

Eternity as the business horizon in a Benedictine monastery 48

Beyond monks and aristocrats 56

3 Lasting relationships: cooperation instead of competition 63

Cooperative firms 66

"Humanity at work" - the Mondragon Corporation 70

Equal Exchange: small farmers, big change 81

Conclusion 86

4 Local roots: the place-based enterprise 89

Inis Meáin and the power of place 94

Traditional chíc: Inis Meáin Restaurant & Suites 101

The power of place in a globalizing age 105

The place-based enterprise 116

5 Limits recognition: self-restraint works wonders 121

Limits of the environment 125

Limits of people 132

Limits to inequality 136

Limits to growth 139

Less is more 148

6 Learning community: rooting innovation in meaning 152

Illycaffè quality as purpose 156

CHCA: cooperating in care 171

Learning to innovate 179

7 Leadership responsibility: individuals who make a difference 187

The man who turned the desert into a garden 190

A global community of gardeners 201

The qualities of responsible leaders 212

8 Conclusion: business for a better life 216

A different yardstick for business success 220

A new narrative 223

Endnotes 229

References 232

About the authors 251

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