The Heart of Business: Leadership Principles for the Next Era of Capitalism

The Heart of Business: Leadership Principles for the Next Era of Capitalism Audible Audiobook – Unabridged

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Product details

Listening Length 7 hours and 16 minutes
Author Hubert Joly, Caroline Lambert - contributor
Narrator Hubert Joly, William Sarris Release Date 04 May 2021
Publisher Gildan Media
Program Type Audiobook
Version Unabridged
Language English
Best Sellers Rank #8,795 in Audible Books & Originals (See Top 100 in Audible Books & Originals)
#66 in Workplace Culture
#105 in Forecasting & Strategic Planning
#348 in Leadership

Customer reviews

4.7 out of 5 stars
4.7 out of 5
730 global ratings

Top reviews from India

Reviewed in India 🇮🇳 on 26 November 2021
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5.0 out of 5 stars The Magic of People, Purpose, Passion and Profits
Reviewed in India 🇮🇳 on 26 November 2021
Five sixth of the people working across organizations today are not fully engaged at work. In terms of loss of productivity, this costs us several trillion dollars. Apart from burning themselves at work, they create dissatisfied customers, unhappy shareholders, disgusted suppliers, and a toxic work environment. The basic assumption is that work is drudgery, and one seeks ‘work-life balance’ to live life and escape from the misery of work.

On the other hand, the small minority who find work meaningful, enjoyable and a way of finding meaning to a purposeful life, excel, enjoy, and energise the workplace. The book is about finding the difference.

Stakeholder capitalism that goes beyond the narrow concept of shareholder wealth maximization, is at the core of this book. The book is based on Hubert Joly’s personal experience in turning around Best Buy from Bankruptcy to stakeholder prosperity.

There are two excellent frameworks in this book. Consider 4 aspects of an individual. 1. Doing what you love. 2. What you are good at. 3. What you can be paid for. 4. What the world needs. The illustration on page 30 depicts these four aspects in intersecting circles (like high school set theory on intersection of sets). 1 and 2 create PASSION at work. 2 and 3 create a valuable PROFESSION. 3 and 4 create a meaningful VOCATION. 4 and 1 create a MISSION. The magic lies in the small space where 1,2,3, 4 intersect; the true noble PURPOSE that we strive to live for, and the core of all that we do. This clearly illustrates the need to align an organization’s PURPOSE with that of an individual.

This brings us to the next interesting framework on page 66. ‘The Purposeful Human Organization- a declaration of interdependence’. The noble PURPOSE for which the organization exists acts as the guiding star for engaged employees who create Delighted Customers, Vendors as Partners, Thriving Communities AND Rewarded Shareholders. The stress is on AND. Forget the myopic traditional view of enhancing shareholder value at the expense of the rest.

While considering new business ideas, Best Buy uses four questions:

• Does it fit with our purpose as a company?
• Is it good for the customer?
• Can we deliver?
• And can we make money?

Profit is an outcome, and not an imperative. This architecture energizes each individual and unleashes human magic leading to ‘irrational performance’. I am reminded of Peter F. Drucker Quote: “The purpose of an organization is to enable ordinary human beings to do extraordinary things.”

In the twenty first century when automation has replaced monotonous and repetitive tasks, we have a great opportunity to enrich people’s lives through meaning, purpose, love, creativity, and passion. Words that were unknown in the industrial age. Welcome to the conceptual age.

Outstanding book. Not to be missed.
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Reviewed in India 🇮🇳 on 13 July 2021
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Reviewed in India 🇮🇳 on 21 November 2021
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Top reviews from other countries

Dave Taylor
5.0 out of 5 stars A must-read for leaders who want to inspire and empower teams through purposeful, stakeholder centred leadership
Reviewed in the United Kingdom 🇬🇧 on 24 November 2022
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Amazon Customer
5.0 out of 5 stars Great book!
Reviewed in the United Kingdom 🇬🇧 on 14 May 2021
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Selman D.
5.0 out of 5 stars A must read for everyone!
Reviewed in Canada 🇨🇦 on 14 May 2021
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Jederson C. Flores
2.0 out of 5 stars Um ótimo livro!
Reviewed in Brazil 🇧🇷 on 10 January 2023
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Dr Anthony Sive
5.0 out of 5 stars Best business book of the year.
Reviewed in Australia 🇦🇺 on 22 January 2022
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