navigating new ethical & eco business models
The concept of steward-ownership is one that is at last gaining more traction.
Its an intriguing alternative for those of us who have struggled with the 'stereotypical' concept of private business, where growth and the bottom line is prioritised above social impact and ethics, for the benefit of a small number of wealthy shareholders.
Having worked most of my professional life in the non-profit, local and national public sectors, the idea of this stereotype of 'big business' never held much attraction.
When I shifted to running my own businesses (and becoming an entrepreneur), I saw that there truly are varying shades of grey on the spectrum between public and private.
Entrepreneurs, like CEOs and Board members of large businesses, CAN make a range of ethics-based decisions that move their business more towards the public/non-profit end. While still earning money for their own lives.
Like:
- integrating business activities with social impact giving (one such example is by signing up to B1G1)
- linking your sales revenue with philanthropy and accreditation (for example, becoming a member of the 1% for the Planet movement)
- shifting your structure, and decision-making influence, to one that prioritises positive social impact and wellbeing of future generations (shifting to steward-ownership for example).
Stories such as the one from Mohamed Bedri and Akoma.Earth showcase both the maturity of the structural options that are now articulated for others to follow, and the additional benefits for worker and partner experiences, resilience and market-share. The Post Growth notion site set up by Marcus Feldthus and Mads Oscar Haumann has a simple and easy to read articulation of these added benefits of steward-ownership.
If you want some stats to influence your thinking, they state:
"A survey from Denmark shows that Steward owned businesses have a 60% survival probability over a 40-year period. That is just 10% for a conventional business."
I didn't set up my businesses only for them to fail in the short-term. I set up them up to have a continuous positive social impact, keep me interested, and to help me pay my mortgage in the long term. I'm pretty sure that's the same driver for many of you too!
Steward-ownership might be a step too far, or too big a first step.
But many of us are proving that we can happily navigate the shades of grey, and disprove the outdated notion that business cannot be done without endless growth and chasing profit, with little room for ethics, intergenerational equity and planetary protection.
If you’d like to discuss how to shift your organisation, leadership team and decision-making practice towards the social impact side of the spectrum, use my calendly to book at catch-up or drop me a text or WhatsApp/signal message.