Key Highlights

[00:01 – 15:21] Capitalism is in a transitional period

• What is Environmental, Social, Governance (ESG)
• Capitalism is in a period of change; peaking globalization, capitalism, inequality, and the great wealth transfer occurring at the same time.
• Richard’s Book discusses the theory that shareholders as the primary focus of a company have been replaced by a stakeholder-centric focus for business.
• This change is referred to as “the day the shareholders died”
• Corporate information is becoming more accessible, which pressures business leaders to change their ways 

[15:21 – 23:43] The Age of Elevated Economics Is Here

• Shifting to a purpose-driven business model can have many benefits such as; Attracting and retaining talent, replacing executive-level talent quickly, and increasing consumer willingness to pay for goods and services
• Millennials focused on nonfinancial factors when making decisions about how to invest their money
• Sustainability strategies and practices will likely be more rewarded by this generation

[23:43 – 31:22] The $5 Tomato: Why Business Leaders Should Sell to Believers

• Capitalism is no longer a single bottom-line business
• There is a shift away from how we view the shareholder-only ecosystem
• It’s okay to charge accordingly for what is valuable to customers
• It’s an optimistic time and there are opportunities for business leaders

[37:58 – 40:04] Closing Segment

• Connect with Richard through https://www.linkedin.com/in/richardsteel9/ 

Links Mentioned:

Richard’s book: https://www.amazon.com/Elevated-Economics-Conscious-Consumers-Business/dp/1734324848 

Brian’s Linkedin: https://www.linkedin.com/in/brian-c-adams/