Stakeholder Business Case: Profit for All
Let's create the case for all stakeholders to profit along with the shareholders.
In episode 3 of Getting Down to Business, Mark and Cynthia interview guest Michael Woyan delve into how businesses can adopt a stakeholder approach to ensure the success of not only shareholders but also employees, communities, and the environment. They explore case studies that highlight the benefits of creating equitable and socially responsible business models, including improving customer loyalty, reducing employee turnover, and fostering cooperation between businesses.
Key Takeaways
- The Stakeholder Approach: Why businesses must prioritize all stakeholders, not just shareholders, for long-term success.
- Benefits of Social Responsibility: How customer loyalty, employee retention, and community involvement strengthen a company.
- Cooperative vs. Competitive Business Models: The advantages of collaboration over competition in solving social and economic problems.
- Practical Steps for Entrepreneurs: How small business owners can start building socially responsible business models, including becoming a B Corporation.
In This Episode
- 00:00 – Show Introduction: Mark welcomes guest Michael Woyan, returning to dive deeper into unfinished business from Episode 1.
- 05:00 – The Stakeholder Approach: Michael discusses the shift from a shareholder-first model to a stakeholder-focused business approach.
- 12:00 – Social Impact in Action: Michael shares his experience working with communities to improve economic development, including his work with the Lakota tribe.
- 20:00 – Employee Retention Strategies: The discussion shifts to how businesses can reduce employee churn by treating employees as assets rather than commodities.
- 30:00 – Cooperative Business Models: Michael explains how cooperative models can foster stronger businesses, sharing examples from the Chicago B Corp community.
- 40:00 – Practical Steps for Entrepreneurs: Mark and Michael provide practical advice for entrepreneurs looking to adopt a stakeholder model, including how to start the process of becoming a B Corporation.
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.
Additional Resources
Using AI to Create Consistent Content Marketing
It's time to leverage AI to help you write more better marketing content.
In episode 2 of Getting Down to Business, Mark Mondo and Cynthia Zimmerman interview Vivek Gargav, who shares his journey from microbiologist to data scientist and how AI transformed his marketing strategies. They explore the role of AI in helping small business owners create ethical, effective content marketing strategies on a shoestring budget.
Key Takeaways
- Transitioning from science to marketing: Vivek’s story.
- How AI can assist small businesses in content creation.
- Practical tips for using AI tools like ChatGPT for SEO.
In This Episode
- 00:00 – Show Introduction and Underwriter Support: Mark introduces guest Vivek Gargav and the topic of using AI for marketing.
- 05:00 – Vivek's Career Transition: Vivek discusses his journey from microbiologist to marketer and how he navigated various challenges.
- 12:00 – The Power of AI: Vivek explains how AI tools, especially ChatGPT, revolutionized his approach to content creation.
- 20:00 – Using AI to Create SEO Content: Vivek describes leveraging AI for writing SEO-optimized articles and content marketing strategies.
- 30:00 – AI’s Role in Business Pivot: How AI helped Vivek pivot his company’s focus, saving time and resources.
- 40:00 – Concrete Results from AI: Vivek shares the direct business results from using AI, including increased leads and improved content marketing efficiency.
Guest Bio
Vivek Gargav is the marketing director at Caldere Associates in Reading, England. As a Zoho certified expert, he enjoys working with SMEs to enhance their customer relationship management using Zoho CRM, Zoho Social, Zoho Campaigns, and Zoho Analytics. He’s our goto expert at MondoCRM when comes to learning anything about AI.
Ethical Entrepreneurship
Can Entrepreneurs Do the Right Thing
for All Stakeholders And Still Profit?
It’s easy to remain cynical, but I interview Cynthia Zimmerman and Michael Woyan who bring real world experience to build the case for non-profit agencies and real estate development.
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.