Prosperity

Name: Prosperity
Rating: 4.30 (1 reviews)
Author: Colins Mayer

288 pages, 2019

Colin Mayer

Takeaways

Description

Based on his research about the role of the corporation, Colin Mayer believes that changing one's perspective of what a business is for has a positive and significant effect on the business itself and can have wider, long-lasting implications. He argues in his new book Prosperity that businesses are capable of promoting economic and social wellbeing because they are powerful entities with a single objective: maximizing shareholder profit. He believes that this objective should be expanded to include other stakeholders as well as future generations. Mayer served as Dean of the Saïd Business School in Oxford and contributed to important discussions regarding the purpose and role of the corporation based on his research.

Redefining the Purpose of Business

In Prosperity, Colin Mayer challenges the traditional notion that businesses exist solely to generate profits for shareholders. He argues that businesses should instead focus on solving societal problems and contributing to the well-being of communities. This fresh perspective encourages readers to rethink the role of businesses in society.

The Role of Trust

Mayer emphasizes the importance of trust in businesses. He suggests that businesses can build trust by being transparent, accountable, and committed to their social responsibilities. This book encourages you to explore how you can foster trust in your own business or workplace.

The Power of Innovation

Innovation is a key theme in Prosperity. Mayer believes that businesses should constantly innovate to solve societal problems and create value for all stakeholders. This book will inspire you to look into ways you can drive innovation in your own business or career.

The Importance of Regulation

Mayer argues that effective regulation is crucial for businesses to fulfill their social responsibilities. He suggests that governments should create regulations that encourage businesses to focus on societal well-being. This book will make you see the role of regulation in a new light.

The Future of Business

Prosperity offers a vision for the future of business. Mayer believes that businesses that focus on societal well-being will be more successful in the long run. This book will motivate you to research and implement changes that align your business or career with this vision.

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