What is Stakeholder Capitalism? Here's a Definition, and 4 Ways to Make It a Reality

What is Stakeholder Capitalism? Here's a Definition, and 4 Ways to Make It a Reality 17 May 2021 --- To solve big, global problems, companies must rethink capitalism and how they collaborate, argues Mariana Mazzucato, professor in the economics of innovation and public value at University College London. 00:00 Capitalism lurches from crisis to crisis 00:35 What's the difference between shareholder and stakeholder capitalism? 01:24 Walk the talk, step 1: see things differently 02:30 Walk the talk, step 2: do things differently 03:29 Walk the talk, step 3: collaborate differently 05:04 Walk the talk, step 4: distribute wealth differently Mazzucato, author of "Mission Economy: A Moonshot Guide to Changing Capitalism" (https://marianamazzucato.com/books/mission-economy), argues that a traditional shareholder-centric approach offers only Band-Aids. It doesn’t allow for the kind of bold thinking we need to solve big problems. “If we keep just fixing our way out of each crisis,” she notes, “we will, by definition, be too little too late.” --------------------------------------------------------------------- At Harvard Business Review, we believe in management. If the world’s organizations and institutions were run more effectively, if our leaders made better decisions, if people worked more productively, we believe that all of us — employees, bosses, customers, our families, and the people our businesses affect — would be better off. So we try to arm our readers with ideas that help them become smarter, more creative, and more courageous in their work. We enlist the foremost experts in a wide range of topics, including career planning, strategy, leadership, work-life balance, negotiations, innovation, and managing teams. Harvard Business Review empowers professionals around the world to lead themselves and their organizations more effectively and to make a positive impact. Sign up for Newsletters: https://hbr.org/email-newsletters Follow us: https://hbr.org/ #stakeholdercapitalism #walkthetalk #moonshot Learn more about your ad choices. Visit megaphone.fm/adchoices