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Good company : how to build a business without losing your values / Julietta Dexter.

By: Material type: TextTextPublisher: London, England : Atlantic Books, 2020Copyright date: ©2020Description: 263 pages ; 23 cmContent type:
  • text
Media type:
  • unmediated
Carrier type:
  • volume
ISBN:
  • 9781786497208
  • 1786497204
  • 9781838951252
  • 1838951253
Subject(s): Summary: In a highly competitive world, many think business success means being ruthless: maximising short-term return for shareholders, cutting overheads and expanding at an exponential pace. Nothing says this more than Silicon Valley with its macho mantras like 'Move fast and break things' (Facebook) or 'We're a team, not a family' (Netflix). But this model is looking increasingly flawed. What if there were another more compassionate way? Julietta Dexter believes there is. In this powerful and hopeful book, the CEO of The Communications Store explains how she built one of the world's most respected PR & communication companies without compromising her morals, her staff or her clients. Highlighting a new paradigm for business, she explains why profit should be just one consideration among several, and why honesty, reliability and diversity are the best foundations for long-term success.
Holdings
Item type Current library Collection Call number Status Date due Barcode Item holds
Express Fiction & Non-fiction Express Fiction & Non-fiction Davis (Central) Library Non-Fiction Non-Fiction 658.4 DEX Available T00828934
Total holds: 0

Enhanced descriptions from Syndetics:

One of the UK's leading women CEOs explores a new paradigm for long-term business success.

Includes bibliographical references and index.

In a highly competitive world, many think business success means being ruthless: maximising short-term return for shareholders, cutting overheads and expanding at an exponential pace. Nothing says this more than Silicon Valley with its macho mantras like 'Move fast and break things' (Facebook) or 'We're a team, not a family' (Netflix). But this model is looking increasingly flawed. What if there were another more compassionate way? Julietta Dexter believes there is. In this powerful and hopeful book, the CEO of The Communications Store explains how she built one of the world's most respected PR & communication companies without compromising her morals, her staff or her clients. Highlighting a new paradigm for business, she explains why profit should be just one consideration among several, and why honesty, reliability and diversity are the best foundations for long-term success.

Excerpt provided by Syndetics

1 Leadership Let's start with a tale of two bosses at two old American companies. Eddie Lampert became the CEO, chairman and principle shareholder of 120-year-old Sears Holdings in 2005. At the time, the retail company had a dozen iconic brands (including Sears, Kmart, Land's End, Kenmore and BLACK+DECKER, among others) and 3500 stores nationwide. Although Sears got through the Great Depression in the 1930s, and both World Wars, it could not survive online shopping. Over Lampert's fourteen-year ownership of the company, it dwindled to just over 200 stores and declared bankruptcy in 2018. Critics blame Lampert's management. Instead of investing in the company, creating a competitive online platform and rebranding to attract a younger customer base, Lampert used capital to buy back shares in the company (inflating the per share price), and sold pieces of it for hundreds of millions of dollars. The sales benefited him, as the company's largest shareholder, and offset Sears's (and his) debt. Lampert owns a real estate investment fund, Seritage Growth Properties, that Sears stores paid rent to, essentially paying millions to himself. Lampert will benefit again when the company's remaining assets are liquidated in a fire sale. Experts estimate that in all his machinations, Lampert stripped the company of $2 billion. In 2018, while top Sears executives petitioned for millions in bonuses, thousands of employees were losing their jobs, benefits or severance payments.1 Due to mismanagement, greed and cultural change, a once great company was brought to its knees, and only the man at the very top will come out okay. Another great, 100-year-old American company, the Campbell Soup Company, was led by Denise Morrison from 2011 to late 2018. In her seven years as CEO, she transformed the stodgy brand into one that focused on its customers' health and on social responsibility. She launched initiatives to fight hunger and childhood obesity; fostered a culture of volunteerism by having employees volunteer at soup kitchens to feed the poor; encouraged and supported women's rise in the ranks; and called for mandatory labelling of genetically modified organisms on all food product labels. She acquired other companies that would appeal to younger, health-conscious consumers, like the juice company Bolthouse Farms and organic baby food company Plum Organics. Morrison tried new marketing ideas that didn't always work - like selling soup in pouches - but, as she once said, 'The world of marketing has changed. You can lead the change or be a victim of change.'2 Unfortunately, her tenure as boss ended in 2018 after a three-year stock slump. But during her last year at the helm, she was named by Forbes magazine as one of the world's most reputable CEOs.3 One leader grabbed as much as he could for himself while his company collapsed at his feet. The other tried to drive social change and engage both her employees and customers while experimenting to save the brand. Morrison landed safely and comfortably on the board of directors at Visa after her time at Campbell Soup ended. In April 2019, Lampert, still owner but no longer chairman of Sears, was sued by his own company which sought repayment of 'billions of dollars in value' that they claimed Sears had 'looted'. Lampert embodies the traditional, BS, stereotypically more 'male' leadership style of a winner-takes-all mentality that's driven by short-term gain. The BS boss is master, and everyone in the company is there to do their bidding and be at their service. It's all about taking everything for oneself at the expense of everyone else. Morrison represents the kinder, responsible, no-BS alternative, an ideology called 'servant leadership'. A servant boss uses their position to benefit and engage the company's employees and customers in a long-term gain, a one-for-all-and-all-for-one egalitarian meritocracy of people working together towards a common purpose. In Morrison's case, she was driven by the purpose of bringing an old-fashioned brand into the present in its products, social environment and office culture. That's the no-BS brand of leadership I try to learn and practise, and continually aspire to. Of course, this is not to say that every man has a 'male' leadership style or that every woman has a 'female' style. Every person, regardless of gender, probably has a mix of both aggression and passivity; of being motivated by competition or collaboration; of wanting to crush or help; and of looking for quick wins or longterm strategies. The future of corporate success depends on leadership shifting in a nurturing, caring direction, of having a purpose larger than just one's own greed and ego. To be completely honest, I practise 'servant leadership' because it works. When you have a reputation for being a decent human being who cares about people and the world we live in, clients want to do business with you and employees want to work with you. They'll return the good vibes and behaviours to the benefit of all. You don't command respect, ever; you earn it slowly, carefully and over a long period of time. Excerpted from Good Company: How to Build a Business Without Losing Your Values by Julietta Dexter All rights reserved by the original copyright owners. Excerpts are provided for display purposes only and may not be reproduced, reprinted or distributed without the written permission of the publisher.

Reviews provided by Syndetics

Library Journal Review

Dexter, a founder of the public relations firm ScienceMagic, argues that it is possible to be financially successful in business while living up to a high ethical standard. Her book describes how she has attempted do so with her own company. While she draws somewhat from the experiences and research of others, the most meaningful parts of her book are where she describes her own efforts to create a corporate culture of decency that relates to everyone--employees and customers alike. For example, her policy for employees who are working long hours is to tell them to cut back and strike a new work-life balance. Thanks to her personal experience, Dexter mostly avoids cliché. The book has a certain element of stylistic flakiness that doesn't hinder its concrete guidance; some will even find it charming. VERDICT This book will appeal to managers and would-be entrepreneurs seeking practical advice on integrating humanistic concerns and business success.--Shmuel Ben-Gad, Gelman Lib., George Washington Univ., Washington, DC

Publishers Weekly Review

"Never waste a crisis," warns Dexter, founder of the PR firm The Communications Store, in her impassioned if familiar debut. Between the pandemic, the crashing economy, and her growing understanding of social justice as the Black Lives Matter movement gained traction across the U.S., Dexter explains how she refocused her energy on ensuring that her business is a force for good. Central to her perspective is that changes are afoot in the business world, as CEOs are being forced out for misbehavior and companies are losing significant work hours and productivity to employee stress. To help businesses focus on doing good while succeeding, she presents a number of tried-and-true tips, such as "encourage failure" and "be open to criticism." She also advises on ways to revamp a company's culture, craft a mission statement ("A core values statement is only as good as a company's willingness to live up to it"), improve communication (tell the truth and be kind), and recruit strong teams (hire with diversity in mind). While she's encouraging with her mission to "work hard, do good, stay humble," nothing here hasn't been said before, many times over. While the ideas are sound, this mostly feels like a missed opportunity. (Nov.)

Booklist Review

Dexter, founder of The Communications Store (now ScienceMagic Inc.), delivers a primer in building a no-BS organization with Good Company. Using stories to share foundational principles, guidance on ethical choices, and hard-won wisdom, Dexter's how-I-did-it is relatable and transferable. Engaging in "competitive rebellion" can be good for your company, clients, employees, and community. Dexter lays out areas of focus which lead to both profit and reputation-building including leadership, culture, communication, service, recruitment, crisis management, and responsibility. Anyone establishing a new business, turning around a struggling business, or seeking validation of their efforts will find value here. Fundamental characteristics of strength, wisdom, passion, and care are explored and plumbed for application across company hierarchies. Highlights include practical application of common courtesy, clear and consistent communication, acting as conscious consumers, and qualities of servant--leadership. Smoothly flowing and sprinkled liberally with catch phrases to guide operations such as ". . . no one gets there alone" and "under promise, over deliver"; Good Company will help its readers lead just that.

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