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Tomorrow's Capitalist
Tomorrow's Capitalist: My Search for the Soul of Business | Alan Murray
4 posts | 1 read
The CEO of Fortune Media chronicles the transition from the era of late 20th/ early 21st century capitalism to one profoundly different and in tune with the changing social, political, and economic mores A major change is shaking up capitalism. The core tenets of a system that dominated the world for more than a century are being challenged as never before. Tomorrow's Capitalist captures the profound transformation of capitalism and the people leading the corporate world today. The walls that once insulated these leaders from the turbulent social, economic, and political forces in society have melted away. Now corporate leaders are face to face with public realities in unprecedented ways. Increasingly, they are embracing a new openness, acknowledging the public demand for them to be more socially aware and responsive. They clearly see that we are at a tipping point: narratives about the failures of capitalism, the greed of the one-percenters, and the blindness of corporations to public need have made their mark and compel change -- not superficially with the kind of cosmetic fixes that typically generated so much cynicism in the past, but real transformation in the way corporations are imagined and run. This transformation is not about a few "woke CEOs" but one driven by the fundamental issues of our time: climate; diversity and inclusion; and inequality and workforce opportunity. And since talent is today's top driver of corporate value, employees are increasingly driving the change. In Tomorrow's Capitalist Alan Murray brings his extensive expertise acquired during three decades in journalism at the Wall Street Journal and Time Inc, and as the current CEO of Fortune Media, to deliver realistic, grounded insight into a transformation affecting everyone. With unmatched access to nearly every important corporate leader of our times, Murray writes about their love of capitalism, and their clear-eyed acknowledgment that it is an imperfect system that must adapt to the times. As one put it, "It's clear that capitalism needs an upgrade and our operating license is at stake." Tomorrow's Capitalist shares the stories and experiences of those on the frontlines who are making it happen.
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review
stevesbookstuf1
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Biz journo & Fortune CEO argues that corporate leadership has changed for the better. He has plenty of examples. Recent events (i.e. the pandemic and George Floyd's murder) have accelerated the trend. In the context of Murray's world the assessment seems valid, & it's a hopeful one. Accountability is lacking tho, & there are plenty of companies not members of the Biz Round Table that need to follow suit.

Full Review: https://tinyurl.com/bdes6ef6

stevesbookstuf1 The crux of his argument is around the transition from a “make profits for shareholders“ capitalism to a “we need to take care of all our stakeholder's interests“ mentality. Tied into this is the idea that businesses need to focus on their “purpose“, which is why many corporations are now willing to express themselves on social issues - Disney on Florida's “Don't Say Gay“ bill being the latest example in the headlines. (edited) 2y
The_Book_Ninja Great review. I‘ll say one thing though…do corporates care, or are they learning that they need to *look* like they care? 2y
stevesbookstuf1 That's a good question. A healthy sense of skepticism is warranted, in my opinion. That said, Murray does tackle that and other questions along the same lines in his book, and he remains optimistic. 2y
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blurb
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"In their classic management book 'In Search of Excellence', Tom Peters and Robert Waterman wrote about the importance of 'management by walking around.' That doesn't work when the office is empty."

quote
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"Many CEOs had conversations with their employees about race for the first time"

quote
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"The best system we've ever developed to be able to allocate our productive resources is capitalism. So, if you want to keep the party going, you have to think about all the unintended consequences."