Skip to Main Content
HBS Home
  • About
  • Academic Programs
  • Alumni
  • Faculty & Research
  • Baker Library
  • Giving
  • Harvard Business Review
  • Initiatives
  • News
  • Recruit
  • Map / Directions
Faculty & Research
  • Faculty
  • Research
  • Featured Topics
  • Academic Units
  • …→
  • Harvard Business School→
  • Faculty & Research→
Publications
Publications
  • 6 Jul 2021
  • Interview

Best Buy's Hubert Joly on Walking the Talk of Stakeholder Capitalism

By: Hubert Joly and Alison Beard
  • Format:Audio
  • | Language:English
ShareBar

Abstract

Hubert Joly, former chairman and CEO of Best Buy, says that now is the time for companies to get serious about operating to benefit not just shareholders but also employees, customers and broader society. In the face of environmental crisis, racial turmoil, and rising economic inequality, he argues that leaders shouldn’t debate whether or when to embrace this new version of capitalism. They should focus on how to do it. He says this starts with having a clear purpose and ensuring that everyone in the organization connects with it and one another. It also involves offering fair pay and opportunities for advancement and working with, not against, consumers, the community, the competition. He shares how these strategies helped turn Best Buy around despite the rise of Amazon. Joly is the author of the book The Heart of Business: Leadership Principles for the Next Era of Capitalism and the HBR article “How to Lead in the Stakeholder Era.”

Keywords

Stakeholder Capitalism; Business and Stakeholder Relations; Mission and Purpose; Leadership; Corporate Social Responsibility and Impact

Citation

"Best Buy's Hubert Joly on Walking the Talk of Stakeholder Capitalism." Episode 808, HBR IdeaCast (podcast), Harvard Business Review Group, July 6, 2021. (Interview with Alison Beard.)
  • Listen Now

About The Author

Hubert Joly

Marketing
→More Publications

More from the Authors

    • November 28, 2022
    • Fortune.com

    Why This Should Be Business Leaders’ ‘Finest Hour’

    By: Hubert Joly
    • September 2022
    • Faculty Research

    Deciding When to Engage on Societal Issues

    By: Hubert Joly and Amram Migdal
    • 2022
    • Faculty Research

    The Heart of Business (ハート・オブ・ビジネス)――「人とパーパス」を本気で大切にする新時代のリーダーシップ

    By: Hubert Joly and Caroline Lambert
More from the Authors
  • Why This Should Be Business Leaders’ ‘Finest Hour’ By: Hubert Joly
  • Deciding When to Engage on Societal Issues By: Hubert Joly and Amram Migdal
  • The Heart of Business (ハート・オブ・ビジネス)――「人とパーパス」を本気で大切にする新時代のリーダーシップ By: Hubert Joly and Caroline Lambert
ǁ
Campus Map
Harvard Business School
Soldiers Field
Boston, MA 02163
→Map & Directions
→More Contact Information
  • Make a Gift
  • Site Map
  • Jobs
  • Harvard University
  • Trademarks
  • Policies
  • Accessibility
  • Digital Accessibility
Copyright © President & Fellows of Harvard College