“Who cares wins – why good business is better business” by David Jones is a welcome addition to the emerging cohort of literature on the impact of Social Media on 21st Century contemporary life. The book seeks to address one the most pressing questions of our time: how is the internet and more specifically, Social Media, shaping the future of business activity?
David Jones speaks from a wealth of experience in digital marketing, being the CEO of both Hanvas and Euro RSCG Worldwide – two prominent marketing agencies. He also helped in driving Kofi Annan’s ‘tck tck tck’ Campaign for Climate Justice and is also a Co-founder of One Young World, a non-profit organisation that gives a voice to up-and-coming leaders around the globe.
The book starts from the premise that today’s consumers are no longer just consumers, but prosumers – empowered by the vast amount of publicly found online information to make informed, moral decisions about their purchasing intentions. Decisions that are in line with each ‘prosumers’ set of values and beliefs. In this respect David Jones argues that businesses have to change their behaviour if they are to build long-term success in the digitalised marketplace, “Today, consumers, employees and now shareholders expect business to be more socially responsible. They are frustrated with how things are. They want change…Social media is creating what I believe will be a bigger transformation for business than the arrival of television”.
The book is written clearly and concisely, using a straightforward vocabulary that makes it accessible to a wide audience of readers – even those for whom English may not be the first language. Chapters 1 to 3 lay the groundwork in building the case for the advancement socially responsible business. Here David Jones argues that in our ever-changing, globalised marketplace, companies should strive to out-behave the competition, ‘transparency, authenticity and speed are the rules of modern business’. In this environment, a global company that pursues profit for profit’s sake is running a very risky business model. The consequences of unethical practices being exposed online may cause significant financial damage and in some cases, unrepairable reputational damage. Therefore, the most successful businesses in the future will be those that are most socially responsible.
The author continues to build the argument for ‘good business’ throughout the remainder of the book. Chapters 4 through 6 he discusses the idea of the rise of a new breed of entrepreneur, the social entrepreneur. A ‘social entrepreneur’ is an entrepreneur that puts social responsibility at the core of their business model. Yvon Chouinard, founder of Patagonia clothing or Anita Roddick of the Body Shop fall into this category. In this sense the author rightly argues that the key to making social responsibility mainstream is to ensure that it is both sustainable and financially profitable.
David Jones concludes in pressing the idea that today’s social media, data-driven digital world, access to new information is just a few clicks away. Therefore, it is increasingly likely that the most profitable and successful companies will be ones that operate and add value to their business ecosystem in a socially responsible way.
All being said, “Who cares wins – why good business is better business” by David Jones, builds a compelling empirical argument for good business. Critics might argue that it lacks any significant academic or theoretical analysis. However, the highly relevant case studies and practical examples make up for what it may lack in other departments.
A highly recommended read for anyone interested in understanding how the digital age is changing our world – hopefully for the better.
“Who cares wins – why good business is better business” by David Jones was first published in 2013 by Pearson (ISBN, 0273762974, 9780273762973).
Andrei Rogobete is the Associate Director of the Centre for Enterprise, Markets & Ethics. For more information about Andrei please click here.
Today the role of the Christian church in business seems to be mainly, in England anyway, as a vocal critic of the capitalist system. Business and wealth creation– let alone the dreaded banking industry – is viewed with suspicion in many Christian circles. The role of addressing the ills of society seems, as far as I can understand the Church of England’s views, to be the responsibility of the state, not business and certainly not Christians in business. Sadly, we have lost our Christian history. For there was a time when a rather small and one might say unusual group of Christians had a profound impact on England’s’ business, banking and society. These were the Quakers, the subject of this new book. Quaker business had an impact out of all proportion to the size of its community which was but a few thousand. For out of the Quakers came banks – Barclays, Lloyds, food – Cadbury, Rowntree’s, Fry’s, insurance – Friends Life manufacturing – huge numbers of iron businesses following Abraham Derby, shoes – Clarks and many more in chemicals, pharmaceuticals and other sectors. Not only were these businesses successful they treated their employees and customers with an unusual degree of care and concern: in fact one might say they were successful precisely because they applied Christian values in this way.
This short and insightful book is by Richard Turnbull, previously Principal of Wycliffe Hall and now Director of the Centre for Enterprise, Markets and Ethics (CEME). CEME has been set up by Brian Griffiths and others to try and apply Christian principles to business and wealth creation. Turnbull not only covers the history detailed above but more importantly draws some thought provoking lessons for today. Firstly, the Quakers had a living Christian faith. Quakerism had both the “inner light” thinking of its founder George Fox but also, up until around 1850, a strongly biblical “evangelical” side, which may come as a surprise to those of us more familiar with modern Quaker thinking. This was personified by the Gurneys, one of the main families who founded Barclays and the biblical thinking from the evangelical wing provided an objective biblical framework for business – a clear moral code. Secondly, they were highly successful family businesses working in a rich network of other family businesses. The sense of shared values and making money to use it for the good of society characterised their thinking and came directly from their family ownership. “The idea of (the) family encapsulates both purpose (for today) and stewardship (for tomorrow)” says Richard Turnbull. Thirdly and perhaps most importantly, they believed that business has a moral responsibility to create wealth, not for its own sake, let alone to be spent selfishly, but as stewards of God to use their wealth for the good of others. Hence the Quakers intense interest in education and model housing (Bournville being the most famous example).
The Quakers were not perfect, the book points out. Ironically much of their drive and network came because they were discriminated against and excluded from Oxbridge and the professions (some might think that not going to Oxbridge was precisely why they were successful in business!) As the evangelical fire waned during the C19th and as they became richer and more successful, some of the sense of stewardship was lost. Sadly, many of the most vociferous opponent of Lord Shaftsbury’s factory reforms – such as stopping small children as young as 6 or 7 going down mines – were the Quakers. Their businesses became larger and the families often lost interest, selling out and losing their shared values. The introduction of limited liability in 1856, notes Turnbull, was a particular turning point. (The very idea of limited liability was originally regarded as “immoral” – as was advertising!) The whole movement began to weaken and many family businesses sold up, the most obvious example of course is the sad fate of Cadburys. But this interesting, concise and well researched book by a leading expert in applying Christian thinking to business points out that there are important lessons we can learn from the Quakers, whether Christians or not. Even for the person who would not call themselves a Christian, then the Quaker formula – which we might say is shared moral values + common purpose + discipline + building trust and treating customers and staff well + family businesses with owners who view their wealth as for the good of society = good business – will never go out of fashion.
“Quaker capitalism: Lessons for today” by Richard Turnbull was first published in 2014 by the Centre for Enterprise, Markets and Ethics (ISBN 1-910666-00-5).
Jeremy Marshall is the Director and Chief Executive of C. Hoare & Co private bank.
