Alan Murray is the CEO of Fortune Media, former head at Pew Research, journalist and author of the book Tomorrow’s Capitalist: My Search for the Soul of Business. Alan discusses the origins and meaning of stakeholder capitalism, and how businesses are helping to solve some of the challenges they face from inequality and how tomorrow’s businesses need different skills than today.
Neighborhood reporter to CEO of Fortune Media Group
When Alan Murray was just 9 years old, he walked his neighborhood asking for news updates from all the neighbors. He turned that information about visiting relatives, new pets and other news and created a neighborhood newsletter he sold for $.50 cents. That was just the start of a journalism career that would turn into decades, which turned into his current role as CEO of Fortune Media. According to Alan Murray, executive leaders need to step up and take responsibility for further developing the global workforce. This is also a reflection of the way leaders think about their jobs. Leaders can no longer be in the business of simply handing out orders. Alan Murray explains that executives have also begun to understand the potential of their organizations and to encourage employees to become more responsible and innovative. Global uncertainties call for stronger leadership beyond the financial reward to motivate employees and create a better culture.
Alan discusses how corporate CEOs ultimately need to realize how critical it is that they confront the issues of our today’s world which include climate, inclusion and diversity. Inequality and opportunity in the workforce are also in demand for corporate change. Alan tells us how companies can only grow if they invest in their employees, customers and support the community that surrounds them. Murray touches on the need for businesses to discover their morals and make changes within their roles and that businesses are already shifting and changing the way their businesses are operating.
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Innovating at Scale
According to Alan Murray, creating value by serving people and putting their needs at the core of operations is how businesses need to operate and how leaders need to lead. As more companies commit to a purpose larger than profit, Alan shares how this is in shareholders best interest as well. “Business as usual is over.” Alan speaks about tomorrow’s world and how this starts with realizing we are all a part of an intertwined system. Businesses need to work together to create a stronger, inclusive and sustainable future because the relationship between business and society is being redefined for the future.
Alan Murray’s take
According to Alan, as employees become more important to the organization, creating the right culture takes precedence, and the role that businesses must play in society has never been more important.
If you listen to the episode, you will learn:
- How businesses are activating and helping to solve challenges within today’s world
- Why businesses need to engage with their stakeholders
- How tomorrow’s corporate leaders will need different skills for tomorrow
- How business leaders need to lead into the future and creating innovation for tomorrow
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