A new brand of entrepreneurs has arrived on the business scene, carrying with them a whole new set of values. They possess a sense of mission – to be socially responsible, protect the planet, and do the right thing for all of their stakeholders. Rather than focus exclusively on financial gain, they aim to achieve a balance between profits and one or more causes of their choosing. In fact, they view for-profit entrepreneurship as a vehicle for social change. The authors call these pioneers "values-centered" entrepreneurs.
Some of the values-centered entrepreneurs have been around a few decades. In recent years, however, the numbers have proliferated and the nascent movement has started to make a true impact. These entrepreneurs’ approach to management questions our basic assumptions about how businesses should be run and what their role should be in society.
Several of these entrepreneurs have attained high visibility. Yvon Chouinard of sportswear manufacturer Patagoina has been a role model for integrating environmental protection to every aspect of Patagonia’s business operation. Howard Schultz of Starbucks has been able to build one of the strongest brands in the world while being the first retailer to offer comprehensive health benefits and stock options to its part-time employees. Paul Newman, legendary actor and racecar driver as well as a leading maker of salad dressings, gives 100% of Newman’s Own brand’s profits to charity.
This book explores how these highly unorthodox leaders have built their profitable and socially responsible business enterprises, and what lessons can be learned for the next generation of entrepreneurs. The authors examine a group of over 40 entrepreneurial companies and how each balanced the profit objective with social responsibility in key aspects of their business operation – from their initial company formation, through growth, to exit – to build successful triple bottom-line companies. Choi and Gray particularly focus on how these firms’ commitment to values affected their company missions, hiring and organizational policies, marketing strategies, financial practices, exit options, and giving programs, and vice versa. In some cases, the authors find that the entrepreneurs’ social objectives have actually strengthened, not weakened, their business enterprises. Based on their extensive studies of these companies, he authors have distilled a set of commonalities. The book presents ten of the most dominant and interesting of these commonalities with a focus on those policies and decisions that appeared to depart from conventional business practice.
In addition to devoting chapters to each of the core principles learned from these companies, the authors also include in-depth case studies of four of the ventures featured in their study.

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zlib/Business & Economics/David Y. Choi, Edmund Gray/Values-Centered Entrepreneurs and Their Companies_825317.pdf

David Choi and Edmund Gray, Edmund R. Gray

Choi, David Y., Gray, Edmund

Ashgate Publishing Limited

Taylor & Francis, Inc.

Taylor & Francis Ltd

Gower Publishing Ltd

Taylor & Francis (Unlimited), New York, 2011

United Kingdom and Ireland, United Kingdom

New York, London, United States, 2011

New York, New York State, 2011

1, 2010-08-15

Hoboken, 2010

1, PS, 2010

lg400861

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Includes bibliographical references and index.

Includes bibliographical references (p. [176]-187) and index.

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"Values, ethics, and social responsibility must be the core principles of any future entrepreneur in this day of the decline of honesty in business. We must integrate these critical concepts into the preparation of the successful winning entrepreneurl This book is the perfect vehicle to launch and propel thinking and discussion on these essential areas of though and execution for the entrepreneur. Buy it! Read it! Act on it! Its timing is spot on!"--Fred Kiesner, Ph.D., Conrad Hilton Chair of Entrepreneurship, Loyola Marymount University"We are easily swayed by polarized arguments settings profit maximization against concerns for social wellbeing. This book ably finds a way through this problem. As the authors bring to light, a new generation of values-centered entrepreneurs seeks not to just do well but also to do good for wider society. Through a range of real-life examples and practical guidelines this book shows how the very spirit of entrepreneurism is itself a great resource in confronting some of the most pressing social and environmental problems we face today."--Dr. Kyoko Fukukawa, Bradford University School of Management

A new brand of entrepreneurs has arrived on the business scene. These entrepreneurs carry with them a whole new set of values. Their mission is to be socially responsible, protect the palent, and do the right thing for all for their stakeholders. They aim to achieve a balance between profits and one or more causes of their choosing, and view for-profit entrepreneurship as a vehicle for social change. Their approach to management questions our basic assumptions about how businesses should be run and what their role should be in society. The authors call these pioneers "values-centered" entrepreneurs

This book explores how these highly unorthodox leaders have built their profitable and socially responsible business enterprises. The authors examine a group of over 40 entrepreneurial companies and how each balanced the profit objective with social responsibility in key aspects of their business operation--from their initial company formation, through growth, to exit--to build successful triple bottom-line companies. The book presents ten of the most dominant and interesting commonalities with a focus on those policies and decisions that departed from conventional business practice. --Book Jacket

The values-centered entrepreneurs
Commit to a (meaningful) purpose
Raise capital with mission in mind : be strategic, resilient, and cautious
Hire talented employees with shared values
Promote your company's values
Build a cohesive, dedicated organization
Maximize profits, with some exceptions
Minimize your environmental and social footprint
Stay with it for the long haul
Make giving a priority
Be a role model for others.

Introduction
The values-centered entrepreneurs
Commit to a purpose
Raise capital with mission in mind
Hire employees with shared values
Promote your company's values
Build a cohesive, dedicated organization
Maximize profits, with some exceptions
Minimize your environmental and social footprint
Stay with it for the long haul
Make giving a priority
Be a role model for others
Concluding thoughts.

"David Choi and Edmund Gray illuminate with clarity and purpose the most important movement in business today--the creation of the new values-centered entrepreneurs. It is a must-read for anyone starting or managing a business."--Marc Benioff, Chairman and CEO, Salesforce.com

"It's good to see serious discussion of this emerging field and I'm hopeful that this work will further contribute to the progress being made." --Seth Goldman, Co-founder and CEO, Honest Tea

2011-04-28