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Connect: how companies succeed by engaging radically with society PDF

321 Pages·2016·11.755 MB·English
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4/C PROCESS, SOFT TOUCH MATTE LAMINATION + INTERACTIVE ILLUSION BUSINESS Connect $27.99/$36.50 CAN “A bold and timely blueprint for the future.” ADVANCE PRAISE FOR —ARIANNA HUFFINGTON C onnect N C DE OR “This fast-paced book lays out the enormous challenges that companies and ARRY B society face together.” —JERRY BROWN, governor of California H Why being radically connected with society is JOHN BROWNE, chief executive of BP from 1995 to o “Connect provides a clear understanding of the value of connected leadership. This is beyond not just the right thing to do, it is imperative 2007, is now executive chairman of L1 Energy. He is the CSR or philanthropy. Companies must play a stronger role as global corporate citizens and do so for a company’s bottom line author of the memoir Beyond Business, the popular science n authentically and with a sense of urgency.” —PETER T. GRAUER, chairman, Bloomberg LP book Seven Elements that Changed the World, and The Glass Closet, a commentary on LGBT acceptance and inclusion “A beautifully written tour de force spanning ancient China to Silicon Valley. Rich with personal Based on John Browne’s decades of experience as one of n in business. examples and global interviews, John Browne makes a powerful and persuasive argument that H O W C O M PA N I E S S U C C E E D the world’s most successful and innovative CEOs, with CEOs must connect with government and society to build sustainable organizations.” research by McKinsey & Company, Connect is a practical —DAVID YOFFIE, Harvard Business School e B Y E N G A G I N G R A D I C A L LY manifesto that redefines the role of business in society. Through insightful analysis and vivid storytelling— “Intelligent, practical...[o]f immediate value....Only three years from now it will be seen c W I T H S O C I E T Y ranging from ancient China, Andrew Carnegie and the ANS to have been a real trailblazer.” —SIR MARTIN SORRELL, CEO, WPP Homestead Strike of the late nineteenth century, to oil M O PAUL R “Connect shows why and how business must radically change to thrive in the twenty-first century.” t spills and privacy issues emanating from the technology ROBIN NUTTALL is a partner with McKinsey & of the twenty-first—Connect explores the recurring rift —JOHN HENNESSY, president, Stanford University, and board member, Google Company and leads the firm’s Regulatory and Govern- between business and society and proposes a way in which ment Affairs Practice. companies can prosper by connecting with the world around them. There is an enormous prize for leaders who engage creatively and constructively with society, and who make OR H AUT “Delivers huge insight into a vital topic that affects everyone.” John its needs part of their company’s business model. The evi- HE OF T —TONY HALL, director-general, BBC dence presented in Connect shows that the value of radical URTESY Browne connection amounts to 30 percent of corporate earnings. O C “Stimulating....Offers some timely counselling to leaders who seek to establish some John Browne The shares of companies that connect outperform those with TOMMY STADLEN is a technology entrepreneur and bond of trust and authenticity between the boardroom and the street.” of competitors by 2 percent every year, amounting to a ROBIN a former McKinsey & Company consultant. —JOHN VAN REENEN, London School of Economics performance boost of 20 percent over a decade. NUTTALL and Connect rejects stale ideas about corporate social respon- JACKET DESIGN BY PETE GARCEAU JACKET PHOTOGRAPH © ISTOCK/GETTY IMAGES $27.99/$36.50 CAN TOMMY sibility disconnected from commercial activity and from STADLEN with R O B I N N U T TA L L the needs of real people. It identifies four tenets of “con- nected leadership,” a radical new paradigm that shows how AVAILABLE AS AN E-BOOK and T O M M Y S TA D L E N companies and executives can thrive by close engagement VISIT WWW.PUBLICAFFAIRSBOOKS.COM FOLLOW @PUBLIC_AFFAIRS ON TWITTER WWW.PUBLICAFFAIRSBOOKS.COM with society. INTERACTIVE ILLUSION INDICATED ON PAGE 2 ‘This bold and timely book helps us redefine the way we think about business and serves as a compelling blueprint for the future.’ Arianna Huffington, Editor-in-Chief, The Huffington Post ‘More than ever before, the world, both developed and developing, is going to need its businesses to survive and prosper. As a start, the 2,000-year-old history of anti-business sentiment needs first to be understood and then acted upon. Gaps need to be closed; gaps not just of perception but of reality. And it will be businesses, not society, who will need to make the bigger moves. This intel- ligent, practical book suggests what those moves should be. Of immediate value, I believe that only three years from now it will be seen to have been a trail-blazer.’ Sir Martin Sorrell, CEO, WPP ‘The mission statements of corporations often include shareholders, customers and employees, but as Browne shows, a commitment to society at-large has been largely absent. Rather than transpar- ency and engagement, businesses have become more closed and isolated. Connect shows why and how business must radically change to thrive in the 21st century.’ John Hennessy, President, Stanford University and Board Member, Google ‘This book redefines three discredited words: Corporate Social Responsibility. Far too often they exist as a bit of window dressing or conscience-salving. John Browne wants to put them at the centre of businesses – both because it’s right and because success in business is inextricably linked with sustainability. It’s all the more compelling because of Browne’s own years at the top in business.’ Alan Rusbridger, Former Editor-in-Chief, the Guardian ‘Connect provides a clear understanding of the value of connected leadership. This is beyond CSR or philanthropy. Companies must play a stronger role as global corporate citizens and do so authen- tically and with a sense of urgency.’ Peter T. Grauer, Chairman, Bloomberg LP ‘Connect offers a radical and different way of thinking about busi- ness. Typically of John Browne, he has put together an inspiring call-to-arms to create the companies society deserves.’ Alastair Campbell, Writer, Communicator and Strategist 99778811661100339966997744--tteexxtt..iinndddd ii 1122//1177//1155 33::2233 PPMM ‘John Browne argues that the relationship between business and the society it seeks to serve is vital, but the idea of Corporate Social Responsibility is dead. His interviews with top business leaders show, however, that a new connected paradigm is possible and it can be highly profitable. This book delivers huge insight into a vital topic that affects everyone.’ Tony Hall, Director-General, BBC ‘Browne aims to rehabilitate Corporate Social Responsibility, and move it from the periphery of a Board’s agenda to the centre. Through a mixture of careful analysis and compelling anecdote, he succeeds where others have failed.’ Sir Howard Davies, Chairman, Royal Bank of Scotland ‘Lord Browne delivers a beautifully written tour de force, span- ning ancient China to Silicon Valley. Rich with personal examples and extensive global interviews, he makes the powerful and persua- sive argument that CEOs must connect with government and society to build sustainable organisations. A must-read.’ David Yoffie, Professor, Harvard Business School ‘Every business leader can learn from Connect. John Browne skill- fully draws on deep historical research, clear insight into the future and his unique business experience to provide a path to business success in our turbulent times.’ Senator George J. Mitchell (United States Special Envoy for Northern Ireland, 1995–2001) ‘Big business is vilified, lauded and feared in equal measure. This stimulating book shows that this predicament is far from new. John Browne and colleagues analyse the challenges and offer some timely counselling to leaders who seek to establish some bond of trust and authenticity between the Boardroom and the Street.’ John Van Reenen, Professor, London School of Economics ‘John Browne, in this fast-paced book, lays out the enormous challenges that companies and society face together. For many, business is the antagonist, but Browne shows that corporate enter- prise is central to the well-being of society. He demonstrates from his rich experiences how commercial success depends on integrity and building trust.’ Jerry Brown, Governor of California 99778811661100339966997744--tteexxtt..iinndddd iiii 1122//1177//1155 33::2233 PPMM Connect HOW COMPANIES SUCCEED BY ENGAGING RADICALLY WITH SOCIETY John Browne with Robin Nuttall and Tommy Stadlen New York 99778811661100339966997744--tteexxtt..iinndddd iiiiii 1122//1177//1155 33::2233 PPMM Copyright © 2015 by John Browne and McKinsey & Company, Inc. Published in 2016 in the United States by PublicAffairs™, a Member of the Perseus Books Group All rights reserved. Printed in the United States of America. No part of this book may be reproduced in any manner whatsoever without written permission except in the case of brief quotations embodied in critical articles and reviews. For information, address PublicAffairs, 250 West 57th Street, 15th Floor, New York, NY 10107. PublicAffairs books are available at special discounts for bulk purchases in the United States by corporations, institutions, and other organizations. For more information, please contact the Special Markets Department at the Perseus Books Group, 2300 Chestnut Street, Suite 200, Philadelphia, PA 19103, call (800) 810-4145, ext. 5000, or e-mail [email protected]. Typeset in India by Thomson Digital Pvt Ltd, Noida, Delhi A CIP catalog record for this book is available from the Library of Congress. LCCN: 2015954472 ISBN 978-1-61039-697-4 (hardcover) ISBN 978-1-61039-698-1 (e-book) First published in the United Kingdom by WH Allen in 2015. UK ISBN 9780753556924 First Edition 10 9 8 7 6 5 4 3 2 1 99778811661100339966997744--tteexxtt..iinndddd iivv 1122//1177//1155 33::2233 PPMM ‘. . . so that more light may enter.’ To Nghi 99778811661100339966997744--tteexxtt..iinndddd vv 1122//1177//1155 33::2233 PPMM 99778811661100339966997744--tteexxtt..iinndddd vvii 1122//1177//1155 33::2233 PPMM Contents Prologue ix Part One: The Business of Business 1 1. The Nothing New 3 2. Chocolate Villages 17 3. Meatpackers and Muckrakers 32 4. The Last Nabob 49 5. Silent Spring 66 6. Queen and Servant 93 7. The Reservoir 112 Part Two: The Four Tenets of Connected Leadership 129 8. History Rhymes 131 9. On Purpose 151 10. Professional Era 174 11. The Front Foot 195 Epilogue: People Rising 213 Acknowledgements 249 Picture Credits 251 Notes 256 Index 287 99778811661100339966997744--tteexxtt..iinndddd vviiii 1122//1177//1155 33::2233 PPMM 99778811661100339966997744--tteexxtt..iinndddd vviiiiii 1122//1177//1155 33::2233 PPMM Prologue The opera was Jorge Martín’s harrowing Before Night Falls. It was late May 2010 and I was in Fort Worth, Texas, to see the premiere of this work by a friend about oppression, AIDS and death. As I handed my credit card to the hotel reception, I glanced across the lobby to the bar. Four television screens were tuned to different networks, each showing the same image: a live feed from the subsea camera below BP’s Deepwater Horizon rig, capturing the apparently endless flow of oil into the sea, now in its sixth week. I was watching the reputation of the company in which I had worked for forty-one years gushing out of the Macondo well into the Gulf of Mexico. For a second I felt relieved no longer to be in charge. Quickly, though, these images and the scathing commentary made me angry. How had this happened? BP was going to be torn apart. The scenes reminded me of the day in 1989 I flew over Prince William Sound just as the Exxon Valdez was spilling its oil. This was going to be far bigger and BP appeared helpless in the middle of a crisis. Anger gave way to sadness as I reflected on the eleven lives that had been lost and on my own experiences of the horror of industrial accidents. And I began to realise that even after three years away from BP, the well-being of its people remained a big part of my emotional life. 99778811661100339966997744--tteexxtt..iinndddd iixx 1122//1177//1155 33::2233 PPMM

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