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Good Company: Business Success in the Worthiness Era (BK Business)by Laurie Bassi
Synopses & Reviews
Companies shirk taxes while padding profits. Firms foul the planet but keep raking in revenue. Reckless greed on Wall Street goes largely unpunished.
More evidence that bad guys finish first in business?
No. A different story is unfolding.
Noted economist Laurie Bassi and her coauthors show that despite the dispiriting headlines, we are entering a more hopeful economic age. The authors call it the “Worthiness Era.” And in it, the good guys are poised to win.
Good Company explains how this new era results from a convergence of forces, ranging from the explosion of online information-sharing to the emergence of the ethical consumer and the arrival of civic-minded Millennials. Across the globe, people are choosing the companies in their lives in the same way they choose the guests they invite into their homes. They are demanding that companies be “good company.”
Proof is in the numbers. The authors created the Good Company Index to take a systematic look at Fortune 100 companies records as employers, sellers, and stewards of society and the planet. The results were clear: worthiness pays off. Companies in the same industry with higher scores on the index—that is, companies that have behaved better—outperformed their peers in the stock market. And this is not some academic exercise: the authors have used principles of the index at their own investment firm to deliver market-beating results.
Using a host of real-world examples, Bassi and company explain each aspect of corporate worthiness, providing senior executives with the tools to adapt to the new road rules for business. The authors also describe how you can assess other companies with which you do business as a consumer, investor, or employee. This detailed guide will help you determine who the good guys are—those companies that are worthy of your time, your loyalty, and your money.
Good Company is a winner of several awards, including Choice Magazine's Outstanding Academic Title Award and a gold medal in the Business/Leadership category of the 2012 Nautilus Book Awards.
Book News Annotation:
Good guys don't have to finish last and businesses that consistently prove themselves trustworthy are finding their way to the top. This book shows what the standards are for a company to be considered "good." A company must be good employers, sellers and stewards, going beyond corporate social responsibility and conveying a sense of doing the right thing without being asked. The authors have created a Good Company Index by consolidating ratings of these areas and converting the numbers to grades. It serves as a guide for consumers to determine which companies are worthy of their time, trust and money. Annotation ©2011 Book News, Inc., Portland, OR (booknews.com)
In recent decades, corporate PR departments and business books like Good to Great promised a new era of value-based leadership, but as recent events have shown, actual corporate behavior still follows the old “whatever you can get away with” standard. But Laurie Bassi and her co-authors have news: the "bad boy" days are over. As a result of a convergence of forces, ranging from the explosion of online information-sharing to the emergence of the ethical consumer and arrival of civic-minded Millennials, we’re in a new era, which they dub "the Worthiness Era.” To succeed, businesses must now prove to consumers, employees, and investors that they have earned their respect—that they are good company.
For the first time, Bassi, a noted economist, has the research to prove that good behavior is good business. The authors have compiled a groundbreaking "Good Company Index" that directly ties business results to stakeholder relationships. Not only do the authors have the hard evidence to prove that good behavior pays, they have used the principles of the index at their own investment firm to delivery market-beating results. Finally, the authors provide senior executives with the principles and tools to adapt to the new road rules for business.
About the Author
Laurie Bassi is an economist and expert in human capital analytics. She is CEO of McBassi & company, and also chairs Bassi Investments, which uses the principles of the Good Company Index to manage assets. She holds a Ph.D. in economics from Princeton University and spent the early years of her career as a tenured professor of economics at Georgetown University. She is the author of over 80 published papers, including two articles for Harvard Business Review.
Ed Frauenheim is Senior Editor at Workforce Management Magazine.
Dan McMurrer is the chief analyst at McBassi & Company and chief research officer at Bassi Investments.
Lawrence Costello has held management position at Campbell Soup, PepsiCo, and Frito Lay. He was most recently senior vice president for human resources at American Standard companies.
Table of Contents
Chapter 1 — The Worthiness Imperative
Chapter 2 — The Economic Imperative
Chapter 3 — The Social Imperative
Chapter 4 — The Political Imperative
Chapter 5 — Goodness Matters
Chapter 6 — Ranking Companies’ Goodness
Chapter 7 — The Good Employer
Chapter 8 — The Good Sellers
Chapter 9 — The Good Steward
Chapter 10 —The Worthiness Era
Chapter 11— A Hopefully Idealistic Vision
Appendix — Documentation for the Good Company Index
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