How to Build Long-Term Social Value

What does it take to succeed as a business while doing well by your employees? Harvard Business School professor emeritus Mike Beer has studied companies who invest in building long-term social value and he says they offer some key lessons for other firms. In this episode, he breaks down how these companies set their strategies for new products and services, hiring, and even how much debt to accrue by first considering their company’s larger identity and higher purpose. Beer calls this “strategic identity.” He also explains how to manage short-term pressures from Wall Street through storytelling that emphasizes long-term results.