10 Things You Should Know about Stakeholder Capitalism

by Institute for Corporate Transformation

In 2019, the Business Roundtable announced that the purpose of business was no longer to maximize profits for shareholders. The new purpose of business would be to maximize value for stakeholders. While the announcement was applauded by many, charges of hypocrisy quickly followed as the practices of many Business Roundtable member companies suddenly seemed to contradict the new more egalitarian purpose they had proclaimed. A ...   ...  Read more

Podcast episodes

  • Season 1



    Originally released on November 15, 2020, Episode 10 tells the story of the first six years of BIGGBY COFFEE’s transition toward Stakeholder Capitalism. Starting with a chance encounter around a fire pit on an island in the middle of Lake Michigan, to a vision that aims to change workplace culture in America, the BIGGBY journey is an excellent example of the difficulty and the distinction that accompany the work of integrating the 10 things you should know about stakeholder capitalism. Episode 10 is the final episode in the series, and the 10th thing you should know about stakeholder capitalism is that all it takes to start the process of transformation is a few good stories. If you’d like to help your company to begin or advance the work to transition to stakeholder capitalism, please share this podcast with your colleagues and if you’d like to do more, join Nathan, Amanda, the people who were profiled in this podcast series and many more like them in the Intrapreneur Accelerator. https://vimeo.com/469013008 Here is a Ted Talk Bob and Mike did last year that will help you hear more about BIGGBY’s purpose: https://www.youtube.com/watch?v=72HFGoY0Rrc If you liked the music we featured in this episode, you can get more at: ØHNØKH△N Young Oceans Steven Gutheinz Jo Blankenburg Mr. Moo

  • The State of the Movement

    The State of the Movement

    Originally released on November 8, 2020, Episode 9 departs from the format of the other episodes in the series to discuss the state of the movement for stakeholder capitalism, and the systems that will need to be addressed to accelerate progress. Jay Jakub from Episode 1, Raj Sisodia from Episode 2 and Bob Chapman from Episode 5 return to share their perspectives. Episode 9 is also a reveal of sorts in which Amanda and Nathan pull back the curtain on the structure of the podcast, revealing a comprehensive and ambitious definition for Stakeholder Capitalism. LET’S EMBED THE PODCAST UP HERE THIS TIME The collaboration between many of the leading entities in this broad movement is called Imperative 21: https://www.imperative21.co/about-the-network/ and at the time of publishing, their members include: B Lab (certifier of B Corporations): https://bcorporation.net/ The B Team: https://bteam.org/ Chief Executives for Corporate Purpose (CECP): https://cecp.co/ Common Future: https://www.commonfuture.co/ Conscious Capitalism Inc: https://www.consciouscapitalism.org/ The Global Impact Investing Network (GIIN): https://thegiin.org/ JUST Capital: https://justcapital.com/ Participant Media: https://participant.com/ More information on the Stakeholder Score can be found at www.stakeholderscore.com If you liked the music in this episode you can find more at: Generdyn Mr. Moo Nina Grae

  • Cafe Momentum

    Cafe Momentum

    Originally released on November 1, 2020, Episode 8 shares the story of Cafe Momentum, one of the finest restaurants in Dallas that happens to be operated through a groundbreaking internship program for young people who have been recently released from juvenile detention. While technically a non-profit, this company has produced a $40 million dollar on a $4 million dollar investment, and it has done so by boldly seeking to solve a worthy problem. This story builds on episodes 6 and 7 to show the dramatic impact even a small business can make when it embraces the power of stakeholder capitalism. More information on Cafe Momentum, including reservations and mail-order products can be found at www.cafemomentum.org, If you liked the music in this episode you can find more at: Generdyn Mr. Moo

  • TRU Colors

    TRU Colors

    Originally released on October 25, 2020, Episode 7 shares the story of TRU Colors Brewery in Wilmington, NC, a business co-founded by the leaders of rival gangs in the area with the help of a serial entrepreneur named George Taylor. The rules of TRU Colors are pretty straight forward, Make a liveable wage for your job, do your work at a very high level, and use your influence as a gang leader to stop gun violence in your organization. To make that work, Tru Colors has built a special culture, and the storyteller in this episode is the architect of that culture, Khalilah Olokunola, or as she is known at TRU Colors, “KO”. This story shows us that, when basic needs are met, and a supportive culture has been built, even society’s most stereotyped members can thrive in the workplace. That is the 7th thing you should know about stakeholder capitalism. Keem Grady produced a mini documentary telling this story and you can see that here. This story also has great lessons for the impact investing community. If all goes well this Spring, beer will be rolling off the TRU Colors line come April 1 and you’ll be able to find it in a store near you shortly thereafter. To say in the loop, consider subscribing to the TRU Colors mailing list here (scroll all the way down). If you liked the music in this episode you can find more at: Ruslan Chris Valentine Emily Brimlow

  • Televerde


    Originally released on October 18, 2020, Episode 6 of 10 Things You Should Know About Stakeholder Capitalism tells the story of Christin Swansinger, one of an estimated 17 million Americans that has been sent to prison. Christin got out and like ⅔ of people who are released from prison, she reoffended and was sent back in. That’s when Christin met Televerde, a call center that operates inside of several prisons in the U.S. that provide excellent service to their customers while helping inmates to establish a foundation that will set them up for success after their release. In 2019, the Conscious Capitalism Annual Conference came to Phoenix and Amanda and Nathan collaborated on a mainstage presentation that would use the power of storytelling to help the audience understand Televerde, and through it, one of the most harmful systems of descrimination that is hiding in plain sight in the vast majority of companies: The Box. Here are the stories in the order they were told on stage that night. Each one received a standing ovation. https://youtu.be/mfeFqF1Ft98 https://youtu.be/2lgwqnYScHI https://youtu.be/yCQypiV4B9o https://youtu.be/quSp1D70rx0 https://youtu.be/oGYWA7Z9wHQ This is just one example of the ways in which businesses are complicit in systemic discrimination, and of the opportunity and the power businesses have to counter, and even dismantle those same systems. If you liked the music we featured in this episode, you can find more of that here: Mr. Moo ØHNØKH△N Young Oceans