Leading up to this week’s Conference on Inclusive Capitalism, Unilever’s CEO Paul Polman warns us of the need to control capitalism’s costs. In The Capitalist Threat to Capitalism, he argues that people will lose faith in capitalism if we do not: 1) stop using the prosperity already created as a justification for inequity, environmental damage, and shortsightedness, and 2) start solving the issues of our age.
The opinion piece is well written and worth a read this Sunday evening. As a bonus, you might enjoy Capitalism Under Siege.
The latest video from Deutsche Bank is getting quite a bit earned media coverage. The bank’s traders receive what the FT called a “severe warning” about their online behaviors. This reputation risk exposure comes from the context of regulatory scrutiny interacting with personal use of digital media.
In an FT blog post, Andrew Hill describes this video as an effort to address the bank’s cultural failings. I think there can be little doubt that banks, broadly speaking, have lost the plot and hopefully videos like this are accompanied by meaningful follow-through and policies with teeth.
Here is some interesting research about why customers choose to participate in the sharing economy. At least based on this research study from Cass, it would appear that social purpose around the environment or civic need has less to do with economic sharing that we might have hoped (romanticized?). Using Zipcar as the basis for the research, listen to the following FT video to discover just why these customers do participate in the sharing economy.
S+B has shared a new PwC survey, The Trust Agenda, reporting that more CEOs believe trust in their industry is on the rise than the number of CEOs who believe trust is falling. The reasons reported are several.
Greater emphasis on good growth
Good growth has a longer term orientation
Good growth is sustainable
Good growth is socially responsible (making up, somewhat, for the lapses of the past 3 or 4 decades)
The report is worth a read and is based on a survey of more than 1300 CEOs in 68 different countries.
This week in Asia, I share a media report describing a changing Chinese language. As globalization continues to shape growth and emerging markets, it only follows that the language will evolve alongside economic developments. In this audio report, you can hear what that means for China.