Rapid Response: Your company is a citizen – it can act like one, w/Baratunde Thurston

Business Power

Baratunde Thurston emphasizes the significant power businesses hold in society, which can be leveraged for social good. He argues that businesses are often seen as civic leaders, and their voices carry more weight in public discourse than individuals. This power, he suggests, should be used to foster community well-being and long-term business value, such as customer loyalty and positive brand equity 1. Thurston also discusses the concept of companies acting as citizens, highlighting the importance of businesses participating actively in societal issues and investing in relationships 2.

A business is seen as like, a civic leader by default, because we live in America, and every business is already a more valued citizen than a human version.

--- Baratunde Thurston

He encourages businesses to consider their role in shaping a sustainable and equitable environment for all stakeholders.

   

Redefining Success

Thurston challenges the traditional notion of business success, advocating for a shift from short-term profits to long-term societal impacts. He highlights how companies have stepped up to address global issues like climate change, emphasizing their role as stakeholders in the planet's future 3. This shift requires businesses to balance financial goals with social responsibilities, fostering a market system built on citizenship principles 4.

Without employees being compensated well and respected, they can't afford to buy the goods in a consumer-driven economy, which makes business possible.

--- Baratunde Thurston

Thurston also calls for a redesign of systems to address societal inequities, urging businesses to conduct self-inventories of power and assess their impact on issues like diversity and inclusion 5.