In 2012, Hubert Joly joined as CEO of Best Buy, a company on the brink of disruption, and led one of the most remarkable comeback stories in American business annals. While CEO he didn't seek the spotlight, but now he's ready to share the principles that helped him complete this remarkable turnaround.
Having recently stepped down as Chairman and CEO of Best Buy, Joly shares the leadership principles illustrated by multiple vivid and concrete stories that underpinned the remarkable resurgence of Best Buy and that he believes are at the heart of business: pursue a noble purpose, put people at the center, embrace all stakeholders, and treat profit as an outcome. There was a time when many would call this a soft philosophy. But times have changed. The world and business are facing unprecedented challenges. Business can be, in fact needs to be a force for good.
In 2019, Best Buy and 180 other companies signed the momentous Business Roundtable statement in support of stakeholder capitalism, highlighting that you can do well by doing good. The Covid-19 pandemic further pushed many businesses to lead from a place of purpose and with humanity.
More broadly, Joly's principles echo and reaffirm that the notion of stakeholder capitalism isn't just a nice idea, it's the winning strategy.
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