Faith and Fortune: The Quiet Revolution to Reform American Business

Lately the headlines have delivered dispiriting news about wrongdoing and scandal in business. But behind the headlines lies a surprising, untold story: Corporate America is changing for the better. Faith and Fortune tells the stories of the extraordinary people who are leading the way and the admirable companies they have built.

This book is called Faith and Fortune because faith provides the fuel that energizes these people as they strive to do business better and to find meaning in their work. Some have faith in God; others do not. But all have faith in the goodness of people and in the possibility of change. Most of all, they believe that corporations can become a powerful force for good in the world, and that they canand shouldserve people and not the other way around.

Faith and Fortune argues that an exciting new model of conducting business is taking hold, not only in small, socially responsible companies like Ben & Jerrys but inside such bulwarks of the Fortune 500 as Ford, Citigroup, and DuPont. Bit by bit, almost imperceptibly, this new model is replacing a century-old approach that was rooted in the industrial era and looked at business as a series of discrete, win-lose transactions: Executives tried to pay their workers and suppliers as little as possible, charge their customers as much as they could, and maximize their short-term profits. Today, by contrast, forward-thinking executives build their businesses by developing a network of long-lasting, win-win relationships. Great companies serve their workers, customers, shareholders, and the common good.

Powerful forces are driving these changes, including the desire of companies to attract and engage their workforce, the emergence of the 1960s generation to positions of corporate power, the spirituality-in-the-workplace movement, the rise of social investing, and the growth and sophistication of activist groups.

At once realistic and inspiring, Faith and Fortune profiles companies and people who represent the best of business and exemplify these new values. Among the stories told here:

• UPS creates opportunities for immigrants and minorities, promotes from within, and provides its people with a much-valued sense of community

• Southwest Airlines, the fun-loving airline, has built the concept of servant leadership into its storied culture

• Starbucks provides stock options and health insurance even to part-time workers and builds sustainable business models for coffee growers in the developing world

• Timberland has turned community services into a valuable corporate asset

Other companies profiled here include Hewlett-Packard, Herman Miller, Staples, PepsiCo, Domini Social Investments, Toms of Maine, and Greyston Bakery. The book also includes a chapter exploring what the great religious traditions have to teach todays businesspeople about creating sustainable enterprises and an analysis of the business case for corporate social responsibility.

Faith and Fortune is a thoughtful, original, and important book that will reshape the debate about the role of business in America.

“I arrived at this book as an avowed, vocal skeptic of the ‘spirituality-in-business movement. I departed as a...convert. Even cynics should devour this marvelous book. Marc Gunther makes a compelling case that the right things matterand pay off; yet he exudes not a dollop of naiveté.”Tom Peters, author of Re-imagine! and Thriving on Chaos

“In his provocative inquiry into the nature of modern American business, Marc Gunther looks into the darkness of corporate greed and scandal and, in the shadows cast by the likes of Enron and WorldCom, sees a beacon of hope in companies in which profits and values coexist.”David Wessel, Deputy Washington Bureau Chief & Capital columnist, Wall Street Journal

“Marc Gunthers Faith and Fortune is a book of hope. It offers the opportunity to open your mind and your heart in your pursuit of a meaningful life. Its well-drawn examples will deepen your ability to see how leaders can use business as a force that creates true personal wealth and public prosperity.”Dr. Mark S. Albion, author of Making a Life, Making a Living

“With the keen eye of a seasoned business writer and the gentle confidence of a trusted storyteller, Marc Gunther masterfully provides an insiders view into the faith-at-work movementthe quiet revolution that is transforming corporate America. After reading Faith and Fortune, you cant help but wonder, now why cant I do that in my organization?” Dr. David W. Miller, executive director of the Yale Center for Faith & Culture, and the former president of the Avodah Institute

“Faith and Fortune offers hope that there is a better way than business as usual. Marc Gunther clearly illustrates that by linking corporate values to personal values; the business leaders profiled in this book have created a new model for addressing the world's problems in these complicated times. This thought-provoking book should be a ‘must read.”Timothy E. Wirth, president, United Nations Foundation

"In the shadow cast by recent corporate scandals, Gunther (The House That Roone Built) provides a reason to hope for something better from big business. Gunther, a senior writer at Fortune magazine, postulates that 'a growing number of big corporations now believe that doing good is good business, and they are acting accordingly.' To prove the point, he profiles companies and leaders who wear their values on their sleeves. Gunther's journalistic skills sparkle, and his book is at its best as he relates the history of these corporations, splashing the accounts with facts and colorful anecdotes. For example, the reader witnesses Starbucks' commitment to quality at a professional coffee tasting and sees that Southwest Airlines remains a desirable place to work because it received 243,657 rsums while hiring 5,042 new employees in 2002. The author's background also gives him a realistic perspective on whether the majority of companies will choose principles over profit: 'The market will eventually settle the debate.' Socially conservative readers may feel that Gunther's definition of moral business practice sounds much like modern liberal social dogma, with virtue assigned to government regulation, environmental activism and companies that provide domestic-partner benefits. (Raspberries go to Wal-Mart and to SUV manufacturers.) Still, the book is packed with compelling stories, and it offers a much-needed, balanced look at the well-intentioned side of corporate America." Publishers Weekly (Copyright 2004 Reed Business Information, Inc.)

Expanding on his 2001 "Fortune" cover story "God & Business: The Surprising Quest for Spiritual Renewal in the American Workplace," Gunther investigates the practice of living one's values in the workplace by interviewing leaders at companies that do well by doing good.

In 2001, Fortune published Marc Gunther's cover story "God & Business: The Surprising Quest for Spiritual Renewal in the American Workplace." Reaction to the piece was extraordinary, and the issue became the second biggest seller of the year. In Faith and Fortune, Gunther expands his investigation into the practice of living one's values in the workplace by interviewing leaders at companies that do well by doing good, including Southwest Airlines, UPS, Starbucks, Timberland, HP, Herman Miller, and Greyston Bakery. Faith and Fortune is a deeply thoughtful, wonderfully written, and character-driven book about what it means to perform as a corporate citizen according to the highest moral and ethical standards while also fulfilling the goals and needs of business. It is filled with illuminating, often inspiring stories that can serve as a guide for workers or executives who want to find deeper meaning in their place of work. Gunther shows how good companies deal with hard times and challenges, how they can fight the competition without losing their moral compass, how they treat their workers, and how they measure success.

Marc Gunther is a senior writer at Fortune magazine who has written extensively about corporate social responsibility and faith at work. He lives in Bethesda, Maryland, with his wife, Karen Schneider, and their daughters, Sarah and Rebecca.