Grow the Pie

A FINANCIAL TIMES BEST BOOK OF 2020

‘... a tour de force.’ - Andy Haldane, Chief Economist, Bank of England

UPDATED AND REVISED GROW THE PIE

HOW GREAT COMPANIES DELIVER BOTH PURPOSE AND PROFIT ALEX EDMANS

UK publication December 2021

9781009054676 Paperback

c. £10.99

At a glance

• This book shows how companies can be a force for good - and outlines an actionable framework to make this a reality • Shows a purpose-driven approach not also creates more value for society but - surprisingly - also leads to higher profits in the long-term • Uses the highest-quality evidence to uncover surprising results - in particular, how they can be used to serve wider society rather than only the elites • The book takes both sides - business and society - very seriously, and also acknowledges the evidence against a purposeful approach to business • This fully-updated paperback edition includes the latest research as well as insights on how businesses put purpose into practice during the pandemic

Grow the Pie

How Great Companies Deliver Both Purpose and Profit - Updated and Revised

Alex Edmans

Should companies be run profit or purpose? In this ground-breaking book, acclaimed finance professor and TED speaker Alex Edmans shows it’s not an either-or choice. Drawing from the highest-quality evidence and real-life examples spanning industries and countries, Edmans demonstrates that purpose-driven businesses are consistently more successful in the long-term. But a purposeful company must navigate difficult trade-offs and take tough decisions. Edmans provides an actionable roadmap for company leaders to put purpose into practice, and overcome the hurdles that hold many back. He explains how investors can discern which companies are truly purposeful rather than greenwashing, and engage with them to unleash value for both shareholders and society. And he highlights the crucial role that citizens can play, as employees and customers, in reshaping business to improve our world. This edition has been thoroughly updated to include the pandemic, the latest research, and new insights on how to make purpose a reality.

Alex Edmans is Professor of Finance at London Business School and a leading authority on reforming business to serve the common good – but using solutions based on rigorous evidence and recognising the importance of both investors and stakeholders. He has spoken at the World Economic Forum in Davos, testified in the UK Parliament, presented to the World Bank Board of Directors as part of the Distinguished Speaker Series, and given the TED talk ‘What to Trust in a Post-Truth World’ and the TEDx talk ‘The Social Responsibility of Business’. He also serves as Mercers School Memorial Professor of Business at Gresham College, London, where he gave a public lecture series on ‘How Business Can Better Serve Society’. He has published in all the leading academic finance journals, written for the Financial Times, Wall Street Journal and Harvard Business Review, and appeared live on Bloomberg, BBC, CNBC, CNN, ITV, and Sky News. Follow Alex Edmans on Twitter @aedmans and visit Alex’s website www.growthepie.net

Reviews and endorsements

‘I do not know whether capitalism is in crisis. But I do know Alex Edmans’ superb book makes the case, compellingly and comprehensively, for a radical rethink of how companies operate and indeed why they exist. It is the definitive account of the analytical case for responsible business, but is at the same time practical and grounded in real business experience. It is a tour de force.’ Andy Haldane, Chief Economist, Bank of England