The world around us is changing at a blistering pace: Millennials and Gen Zs demand jobs with a purpose that extends to social and environmental concerns. Employees question the rationality of widening salary gaps between management and front lines.
Stakeholder groups are no longer content with the conventional corporate agenda. They are raising their voices and challenging how organizations do business.
Profit maximization, it seems, can no longer be the all-encompassing purpose or driving vision that propels an organization towards success.
“Successful organizations embrace prosperity for all stakeholders – both financially and personally,” says Chris Lautenslager, author of The Prosperity Loop.
Today, profitability and success are about building a socially conscious organization that ensures prosperity for all stakeholders. It’s about creating a virtuous ongoing loop of shared organizational success.
In his new book, The Prosperity Loop, Lautenslager offers a roadmap for leaders to create ongoing prosperity for their organizations, their people, and their communities using six principles:
- Common vision
- Cooperation and collaboration
- Value creation
- Circular communication
- Shared rewards
- Assessments and adjustments
These principles provide a recipe to create an abundance of financial and personal success, happiness and fulfillment for all stakeholders involved, but without compromising profit.
Ensuring your organization’s success in a rapidly changing world is certainly within your reach. So go ahead, unleash the power of shared prosperity!