“And,” Not “Or”

Companies don't have to choose between making money and doing good. A study by Raj Sisodia found that conscious companies outperformed the S&P 500 by 10 times over 15 years.
Chapters
I think you need to start by thinking in terms of and rather than. Or. And I think that's what you've just mentioned, which is rather than be like it has to be this side of the solution or this side of the solution. Thinking more in terms of ands. And this applies actually to this conversation around Can a company be both a force for economic and social good? Not economic or social good. There's a study that I like very much. It's starting to get a little outdated unfortunately, but it's still in my opinion, very relevant. It was conducted by a man called Raj Sisodia and he worked in particular with the CEO and founder of Whole Foods. And he looked at companies that he considered as conscious company. And the way he described consciousness has a lot to do with what you're talking about, which is what is their stated purpose, what is their. The generosity of compensation was there for the employee, the quality of customer service, but also investment in communities impact on the environment. So basically the social part of good. And he demonstrated, and again as I said, a little outdated because he looked at data from 96 to 2011 and I wish we could have a much more recent study on this, but it demonstrated that over this 15, 15 years, these companies considered as the most conscious, based on what I've just described, outperform. And these were all public companies. These companies outperform the S&P 500 index by a factor of 10. Wow. And so I want to start by saying stop thinking in terms of you have to choose between being a successful company and being a socially good company. I think there has been too many myths, especially in tech, especially when we look at some of the companies that made the headlines in the media. There's this false choice of the only way you can be number one in tech, the only way you can build billions billion dollar companies is by ignoring your social impact and just focusing on growing at all cost. And so start by changing your mindset and look at the data and convince yourself that actually being good for the world and being good for the communities around you is actually good for business.
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