Elevated Economics: How Conscious Consumers Will Fuel the Future of Business

by Richard Steel

Overview

A vital leadership guide to understanding and engaging socially responsible consumers and investors

Consumers and investors have innovated their game. Now you as a leader must innovate with them or face the consequences. 

In this engaging and persuasive guide to the new world of conscious capitalism, entrepreneur and investor Richard Steel details the inevitability of the coming changes in capitalism. 

Our economy has become increasingly values-driven, and consumers have begun to care more about the principles of the companies from which they buy. With an eye toward the future of sustainability, Elevated Economics provides you with:

* Crucial information on the rise of ESG (Environmental, Social, and Governance) practices.

* Informative, firsthand interviews with Ivy League business school professors and CEOs of successful companies who actively follow the ESG model.

* A framework for understanding trends in Socially Responsible Investing (SRI).

Steel makes the case that ESG is more than a burgeoning trend, and as a leader, you must get on board or risk extinction.

Product Details

ISBN-13:	9781734324846
Publisher:	Fast Company Press
Publication date:	10/06/2020
Pages:	246
Product dimensions:	6.20(w) x 9.00(h) x 1.10(d)

About the Author

Richard Steel is an American entrepreneur, investor, and consultant. He has run private and public companies, served on nonprofit boards, and advised the White House Business Council. He is an advisor to large and mid-size companies, governments, startups, and nonprofits. Currently, he is the CEO of a venture firm and chairs a philanthropic fund. Richard is an alumnus of Harvard Business School where he serves on the Alumni Board.

Table of Contents

Introduction 1

Chapter 1 Up and to the Right 5

Chapter 2 Survival of the Physics 31

Chapter 3 The New Consumers 53

Chapter 4 The Age of Convenience 67

Chapter 5 The Day the Shareholders Died 85

Chapter 6 The Fourfold Foundation 103

Chapter 7 ESG 121

Chapter 8 Like Sales in an Hourglass 139

Chapter 9 More Powerful Than a Locomotive 157

Chapter 10 The Hole in the Universe 175

Chapter 11 Willing to Pay 193

Chapter 12 Whom Do You Serve? 207

Conclusion 221

Acknowledgments 223

Index 225

About the Author 235

What People are Saying About This

From the Publisher

“Elevated Economics is a must-read for every business leader. Consumers are increasingly making purchasing decisions based on a new paradigm. Richard Steel identifies this new reality and offers solutions all in one fell swoop. Leaders will be using this book to rethink their marketing and product strategy for years to come.”

—Rob Howard, vice president, Target
 

“Elevated Economics ties together three powerful discontinuities facing all companies: customers behaving differently, investors acting differently, and competitors responding differently. Steel frames a powerful argument for change with a pragmatic approach on ‘how to.’“  

—George Riedel, senior lecturer, Harvard Business School
 

"Richard Steel has written a playbook for navigating the new business paradigm that we all find ourselves immersed in. Our customers and candidates expect and deserve more. Elevated Economics lays out intentional and actionable steps backed by data to help us all best adapt to this fast changing landscape."  

—Aaron Kraljev, former VP, Wells Fargo 
 

"The old way of doing business is already dead—it just doesn't know it yet. Elevated Economics delivers an essential wake-up call to business leaders to embrace the future, illuminating what has changed and how they must adapt. I highly recommend this book to anyone looking to win in this new economy."

—Drew Fraser, CEO, Method Products
 

"Elevated Economics persuasively makes the case, aligned with what we see in the millions of reviews of companies on Glassdoor, that companies with a strong sense of mission and purpose outperform their peers. Doing the right thing and shareholder returns are not in conflict. Companies that do good attract the best talent and connect more deeply with their customers, which is ultimately good for business.”

—Christian Sutherland-Wong, CEO, Glassdoor
 

“As an impact investor, I appreciate Steel's recognition of how essential new attitudes towards investing will be to building a new economy that serves us all. His breadth of experience and concrete examples make Elevated Economics an important and actionable guide.”

—Morgan Simon, founding partner, Candide Group
 

“Richard Steel reminds us that there is more to life and business than maximizing shareholder value. When Harvard Business School was created, Dean Edwin Gay said, ‘The purpose of business is to make a decent profit decently.’ That’s what sensible investors will demand of the management teams they back."

—William Sahlman, professor, Harvard Business School
 

“The world is different now, and businesses have to adjust. Elevated Economics helps guide decision makers to make smart choices, and when done correctly, both the consumer and company win.”

—Blake Mycoskie, founder, TOMS Shoes
 

“Through compelling real-world examples, Elevated Economics makes a strong case that purpose and stakeholder focus are core elements of successful businesses. Driven by consumers and investors, this trend is only accelerating and corporate leadership who ignore it do so at their peril.“

—Vikram Gandhi, senior lecturer, Harvard Business School

“We are at a turning point in the history of capitalism. Companies are becoming accountable not only for their economic performance but for their contribution to shared value. Richard Steel offers a blueprint for how to leverage and contribute to today’s changes by focusing on purpose, inclusion, and social and environmental progress. Business leaders–from aspiring entrepreneurs to managers of the largest enterprises–will benefit from his timely insight.”

—Scott Stern, professor, MIT