Welcome to another exciting episode of Stories Matter! On today's show, we have a thought-provoking discussion about the role of business in society with our insightful guest, Mike Rabin.

[Why This Is Important] - As leaders, it's crucial to understand how businesses can transform lives and make a positive impact on society. In this episode, we explore the different theories on the purpose of a corporation and delve into the relationship between business and our democratic institutions. We also discuss the concept of beneficial corporations and how they strive to serve not just their shareholders, but also the broader stakeholders.

[What you need to know.] - In this fascinating conversation, Mike Rabin shares his insights on the two predominant theories of corporate purpose and the need for businesses to operate within the rules of society. He highlights the importance of elevating the standards for business and aligning them with social priorities.

[What you need to do.] - As a leader, it is essential to reflect on the purpose of your own organization and how it aligns with the greater good. Consider incorporating the concept of a public benefit corporation into your articles of incorporation to legally bind your business to a higher purpose. Additionally, strive to make incremental improvements in your business practices to address the human, social, and ecological challenges we face.

[TAKE ACTION] Do this now! Tune in to this thought-provoking episode and gain valuable insights into the role of business in society. Reflect on your own organization's purpose and consider how you can contribute to the advancement and betterment of society through your business practices. Remember, stories matter when it comes to transforming lives as a leader.

Gayle Turner is President of The Storytellers Channel, Inc. https://storytellerschannel.com/ For close to five decades he has used the power of story to initiate and sustain change while growing leaders and building productive corporate and community cultures. Check out his LinkedIn profile to learn the rest of the story. https://www.linkedin.com/in/wgayleturner/ 

Shelli Jost Brady is Founder & Catalyst at Alchemy Consulting and Chief Operating Officer at The Storytellers Channel, Inc. Check out her LinkedIn profile to learn the rest of the story. https://www.linkedin.com/in/shelli-jost-brady-94b44835/

Mike Rabin is Founder and Catalyst at The Corporate Purpose Project.

Subscribe to The Storytellers Channel’s newsletter by downloading a FREE checklist of how to craft intentional stories to inspire results. https://storytellerschannel.com/inspire

Keywords

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