Jun 7, 2023
What is stakeholder capitalism and why should you care about it? If the work that you’re doing doesn’t help you sleep better at night, there just might be some room for improvement in your efforts in stakeholder capitalism.
Kent Gregoire is a serial entrepreneur and the co-founder of Stakeholder Business. He is on a mission to help entrepreneurs transform their companies for maximum impact. In his consultancy work, he is known as the “CEO to CEOs” who focuses on a win-win approach that delivers exponential value to all stakeholders.
Kent’s efforts over the years have evolved from conscious capitalism into stakeholder capitalism, which focuses on building a socially and environmentally sustainable world. When companies begin to create value and optimize that value for their stakeholders — not just their shareholders — they become stronger, more resilient, and more profitable.
Stakeholders are a 360-degree group, including the customers, investors, employees, community, environment, suppliers, business partners, and more. Every one of these has an impact on a business. And companies that consider the role of each of these players are shown to be more resilient and more profitable. Kent highlights the realities of stakeholder capitalism in the coffee industry, and how strategic moves can benefit not only the company but its stakeholders as well.
Kent details the success of Interface, a carpet company that has successfully maximized stakeholder capitalism and changed the carpet industry worldwide. Bill shares ways that he has intentionally increased customer connections and Kent highlights the efforts that have solved major challenges with suppliers and securing even more business, all with a greater focus on becoming a stakeholder business.
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