Episode 1
Can Entrepreneurs Do the Right Thingfor All Stakeholders And Still Profit?
In episode 1 of Getting Down to Business, Mark Mondo and Cynthia Zimmerman explore ethical entrepreneurship—the idea that businesses can prioritize all stakeholders while maintaining profitability. Joined by Michael Woyan, a leader in the social impact space, the conversation dives into real-world examples of stakeholder capitalism and social impact projects.
Key Takeaways
- How to balance ethics and profit in entrepreneurship.
- Examples of stakeholder capitalism in nonprofits and real estate.
- Practical tips for making ethical business decisions.
In This Episode
- 00:00 - Show Introduction: Mark Mondo introduces the show Getting Down to Business and welcomes his guests, Cynthia Zimmerman and Michael Woyan.
- 03:00 - The Core Question: Can Capitalism Do the Right Thing? Mark poses the central question of the episode: Can businesses act ethically and still be profitable?
- 07:00 - Examples of Corporate Missteps: Discussion about companies like Amazon, Walmart, and the 2008 financial crisis as examples of capitalism failing to do right by all stakeholders.
- 10:00 - Finding the Good Guys: Costco and Patagonia: Mark and his guests highlight companies like Costco and Patagonia that have succeeded while maintaining ethical business practices.
- 15:00 - Cynthia Zimmerman’s Nonprofit Journey: Cynthia shares her experience working in the nonprofit world and how it shaped her views on ethical business practices.
- 25:00 - Michael Woyan’s Real Estate Development for Social Impact: Michael discusses his work with the People’s Action Redevelopment Coalition and how he flipped the typical real estate model to benefit underserved communities.
- 35:00 - Building Wealth in Communities: The team dives into how businesses can create lasting economic opportunities in communities through ethical practices and stakeholder capitalism.
- 45:00 - Practical Tips for Entrepreneurs: Cynthia and Michael offer actionable advice for entrepreneurs looking to implement ethical practices in their own businesses.
Guest Bio
Michael Woyan is a social impact entrepreneur with a background in real estate development and nonprofit work. As the founder of Marketsling Innovation Labs, he focuses on ethical business practices and creating economic opportunities in underserved communities.
