Firms of Endearment
IN THIS SUMMARY
The social transformation of capitalism taking place today is changing the way companies maximize their value to society as a whole, not just to shareholders.
These “humanistic” companies create emotional, experiential, social, and financial value. Using these values to develop strong relationships with all stakeholders enables companies to achieve sustained and superior business performance, now and in years to come.
In Firms of Endearment, authors Sisodia, Sheth, and Wolfe explain how disciplined dedication to the well-being of all stakeholders separates holistic and humanistic firms from their competition. These firms, viewing their stakeholders as true partners, create a more cohesive relationship where all parties eagerly contribute and help each other reach higher levels of productivity, quality, and profitability. More so, these firms are able to satisfy investors because they treat their employees better, have profitable suppliers, offer superior value to customers, and invest heavily in their communities.