A pioneering venture capitalist provides an actionable framework
for founders and executives to create innovative, enduring
companies built for growth and for societal good. The Milton
Friedman philosophy that companies exist only to increase
shareholder value is dead and buried. The old Silicon Valley tenets
of "move fast and break things," minimum viable products, and hyper
engagement at any cost must be replaced with new principles for an
era of responsible innovation. We can no longer manage businesses
solely for growth. With innovation comes responsibility: to
generate returns beyond profits and to recenter technology as a
force for good in the world. This requires a shift in the way
organizations approach and value work. A company's mindset-its
intent to do good, avoid harmful consequences, and innovate
responsibly-is not enough. That mindset must be supported by a
business model, a mechanism that leaders must intentionally and
proactively build along with the company from the ground up, one
that incentivizes and rewards the organization for fulfilling its
intentions. Companies need a new set of KCIs, or key consequence
indicators, that measure factors such as its impact on customers'
energy consumption, whether its product is being used equally
across socioeconomic groups, or if it is actually solving the
social problem it is addressing. Not only is this the right thing
to do-increasingly, it is what customers, employees, and
shareholders demand of business. In this inspiring, practical, and
actionable guide, Hemant Taneja: lays out the argument for why a
new model of company building and leadership is necessary-and how
it can lead to better performance explores why social-good
businesses are some of the greatest opportunities today, detailing
examples of billion-dollar startups that are addressing inequality,
climate change, systemic societal problems, and chronic disease-all
while generating profit and positive shareholder returns presents a
topic-by-topic road map that addresses business models, artificial
intelligence, ethical growth, culture, governance, and good
citizenship Intended Consequences is designed as the ultimate
playbook for founders, entrepreneurs, leadership teams, and
investors on how to build and maintain a responsible innovation
company.
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