The Heart of Business: Leadership Principles for the Next Era of Capitalism

The Heart of Business: Leadership Principles for the Next Era of Capitalism Audible Audiobook – Unabridged

4.7 out of 5 stars 507 ratings

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Product details

Listening Length 7 hours and 16 minutes
Author Hubert Joly, Caroline Lambert - contributor
Narrator Hubert Joly, William Sarris
Audible.ca Release Date May 04 2021
Publisher Gildan Media
Program Type Audiobook
Version Unabridged
Language English
ASIN B0914TKP42
Best Sellers Rank #9,429 in Audible Books & Originals (See Top 100 in Audible Books & Originals)
#82 in Workplace & Organizational Behaviour
#98 in Systems & Planning (Books)
#100 in Business Systems & Planning (Books)

Customer reviews

4.7 out of 5 stars
4.7 out of 5
507 global ratings

Top reviews from Canada

Reviewed in Canada on February 1, 2022
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Reviewed in Canada on May 14, 2021
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Reviewed in Canada on May 15, 2021
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Reviewed in Canada on May 14, 2021

Top reviews from other countries

Amazon Customer
5.0 out of 5 stars Great book!
Reviewed in the United Kingdom on May 14, 2021
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B.Sudhakar Shenoy
5.0 out of 5 stars The Magic of People, Purpose, Passion and Profits
Reviewed in India on November 26, 2021
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B.Sudhakar Shenoy
5.0 out of 5 stars The Magic of People, Purpose, Passion and Profits
Reviewed in India on November 26, 2021
Five sixth of the people working across organizations today are not fully engaged at work. In terms of loss of productivity, this costs us several trillion dollars. Apart from burning themselves at work, they create dissatisfied customers, unhappy shareholders, disgusted suppliers, and a toxic work environment. The basic assumption is that work is drudgery, and one seeks ‘work-life balance’ to live life and escape from the misery of work.

On the other hand, the small minority who find work meaningful, enjoyable and a way of finding meaning to a purposeful life, excel, enjoy, and energise the workplace. The book is about finding the difference.

Stakeholder capitalism that goes beyond the narrow concept of shareholder wealth maximization, is at the core of this book. The book is based on Hubert Joly’s personal experience in turning around Best Buy from Bankruptcy to stakeholder prosperity.

There are two excellent frameworks in this book. Consider 4 aspects of an individual. 1. Doing what you love. 2. What you are good at. 3. What you can be paid for. 4. What the world needs. The illustration on page 30 depicts these four aspects in intersecting circles (like high school set theory on intersection of sets). 1 and 2 create PASSION at work. 2 and 3 create a valuable PROFESSION. 3 and 4 create a meaningful VOCATION. 4 and 1 create a MISSION. The magic lies in the small space where 1,2,3, 4 intersect; the true noble PURPOSE that we strive to live for, and the core of all that we do. This clearly illustrates the need to align an organization’s PURPOSE with that of an individual.

This brings us to the next interesting framework on page 66. ‘The Purposeful Human Organization- a declaration of interdependence’. The noble PURPOSE for which the organization exists acts as the guiding star for engaged employees who create Delighted Customers, Vendors as Partners, Thriving Communities AND Rewarded Shareholders. The stress is on AND. Forget the myopic traditional view of enhancing shareholder value at the expense of the rest.

While considering new business ideas, Best Buy uses four questions:

• Does it fit with our purpose as a company?
• Is it good for the customer?
• Can we deliver?
• And can we make money?

Profit is an outcome, and not an imperative. This architecture energizes each individual and unleashes human magic leading to ‘irrational performance’. I am reminded of Peter F. Drucker Quote: “The purpose of an organization is to enable ordinary human beings to do extraordinary things.”

In the twenty first century when automation has replaced monotonous and repetitive tasks, we have a great opportunity to enrich people’s lives through meaning, purpose, love, creativity, and passion. Words that were unknown in the industrial age. Welcome to the conceptual age.

Outstanding book. Not to be missed.
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Dr Anthony Sive
5.0 out of 5 stars Best business book of the year.
Reviewed in Australia on January 22, 2022
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Amazon Customer
5.0 out of 5 stars Excellent business book
Reviewed in Australia on January 30, 2022
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Client d'Amazon
5.0 out of 5 stars A refreshing take on leadership and the success of a company
Reviewed in France on May 6, 2021
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Client d'Amazon
5.0 out of 5 stars A refreshing take on leadership and the success of a company
Reviewed in France on May 6, 2021
I really enjoyed reading this book, not so much for the description of how Joly was able to "save" Best Buy but rather how he managed to work on himself as a leader and challenge what he initially thought a leader should be. Embracing vulnerability, making people come together, listening and asking questions, caring, viewing employees as individuals with dreams and potential teachers are some of the many lessons that Joly writes about in his book. A refreshing take on leadership that we are not necessarily used to seeing in large corporations especially from male leaders. Part 3 : Unleashing Human Magic is a must read.
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