06/23/2020
I believe that Millennials and Zoomers have grown up in a time when business looks like a lopsided affair, slanted in favor of those born wealthy.
The American Dream is supposed to be available to anyone because of capitalism, and something happened in 1970 to change that. In 1970, Milton Friedman put forth a theory known as Shareholder Primacy which said if businesses would solitarily concern themselves with profits that everything else would fall into place. This is about as good an idea as Trickle-Down Economics. Both theories have shown they are not good at creating value, sustainability, or long-term success.
In the wake of this mind warp which took center stage during Reaganomics in the 1980s, we’ve witnessed a generation of workers getting trampled by large corporations that sought profits above all else. Some CEOs actually believe that the Securities and Exchange Commission requires that they put Shareholders above employees and the environment. The stock market certainly has rewarded them for doing so. Meanwhile, Millennials and Zoomers have come to think capitalism is a load of crap. It’s not hard to see why.
There are so many opportunities to use business to create social progress. Consider the Grameen Bank which invented microlending. It’s literally a bank for the poor. Because they lifted so many people out of poverty, The Grameen Bank and its founder Prof. Muhammad Yunus won the Nobel Prize in 2006. They have disbursed collateral free loans of $24 billion to around 9 million borrowers.
There are 2,500 companies (and growing) in more than 50 countries certified as B Corps to show their commitment to progress. These are for-profit companies, certified to meet rigorous standards of social and environmental performance, accountability, and transparency.
I’m deeply passionate about educating this upcoming generation of leaders on how to use business to advance their values. I am working to rewrite the language of business using the language of virtue so that it’s a more accessible tool for people looking to create social progress. Business is the most efficient tool we have to create a positive impact on society… if we choose to use it with a positive purpose. I want to teach people how it’s done.
I’ll be developing my ideas about this through articles, videos, speaking engagements, and a book. I hope you’ll join me on my journey.
– Sandy Martin, Founder of Positive MBA
The Positive MBA explores Business Management through the lens of Character Strengths and Positive Psychology.