The social responsibility of business | Alex Edmans | TEDxLondonBusinessSchool
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- เผยแพร่เมื่อ 8 ก.ค. 2015
- Alex Edmans talks about the long-term impacts of social responsibility and challenges the idea that caring for society is at the expense of profit.
Alex is a Professor of Finance at London Business School. Alex graduated top of his class from Oxford University and then worked for Morgan Stanley in investment banking (London) and fixed income sales and trading (NYC). After a PhD in Finance from MIT Sloan as a Fulbright Scholar, he joined Wharton, where he was granted tenure and won 14 teaching awards in six years.
Alex’s research interests are in corporate finance, behavioural finance, CSR, and practical investment strategies. He has been awarded the Moskowitz Prize for Socially Responsible Investing and the FIR-PRI prize for Finance and Sustainability, and was named a Rising Star of Corporate Governance by Yale University. Alex co-led a session at the 2014 World Economic Forum in Davos, and runs a blog, “Access to Finance” (www.alexedmans.blogspot.com), that aims to make complex finance topics accessible to a general audience.
This talk was given at a TEDx event using the TED conference format but independently organized by a local community. Learn more at ted.com/tedx
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Amazing video, A friend of mine referred me to a financial adviser sometime ago and we got to talking about investment and money. I started investing with $150k and in the first 2 months, my portfolio was reading $274,800. Crazy right!, I decided to reinvest my profit and get more interesting. For over a year we have been working together making consistent profit just bought my second home 2 weeks ago and care for my family.
Hi. I’ve been forced to find additional sources of income as I got retrenched. I barely have time to continue trading and watch my investments since I had my second child. Do you think I should take a break for a while from the market and focus on other things or return whenever I have free time or is it a continuous process? Thanks
@@jadonsmith_ However, if you do not have access to a professional like JUDITH ANN PEACE, quitting your job to focus on trading may not be the best approach. It is important to consider all options and seek guidance from reliable sources before making any major decisions. Consulting with an AI or using automated trading systems can also be helpful in managing investments while balancing other commitments
@@daisymayy1 Oh please I’d love that. Thanks!
@@jadonsmith_ Judith Ann peace is her name
Lookup with her name on the webpage.
How did we end up in a world where scientists have to prove to society with extensive research that if you treat people like people you gain something?.
+Aleksandra Kanischeva :)
Best comment ever!!!
This is the dilemma with CSR research so far. Most of the academics treat it as a predictor of the financial well-being of the company. We very seldom work on what results in CSR?
Because you need a renown scientist to make such a simple, basic thing credible. You see, leaders these days do not care so much about their employees unless they create problems. Whenever you treat people badly , you are demotivating them but if you treat them right you actually gain their trust and loyalty. But if you are trying to point this out they wont care. However when a famous scientist makes a study about these issues, they will start to listen.
Same world where it seems we haven't even proved (yet) that polluting is bad, damaging, potentially irreversible and very very costly.
Ethical priorities. Morality strength. The world of now. The world of Instagram.
Perhaps THE best CSR video I've seen. Very insightful. Great information, great examples, great delivery.
Thanks Wayne - keep up the great work that you're doing!
Good day I am doing an investigation on Corporate Social Responsibility, soon it will be a qualitative scientific thesis but I would like to receive your advice and suggestions on a subject involved in CSR that needs more study. Thank you in advance for your valuable time.
I think a good topic to research is how much corporate social responsibility is good. Too much probability is bad for long term profit
Hi Charlie - I think you are looking at it as a CSR Sum situation where money spent on CSR takes away value. A value distribution model where CSR is essentially about distributing value from company to society. Many companies do practice that; approach CSR through a charity and philanthropy lens.
A far more effective approach is to look at value alignment and generation and find those areas where there is an alignment between corporate value, social value and environmental stewardship. Far more rewarding for all involved.
Wayne Dunn I totally agree!
What an enthralling speech about corporate responsibility. Nobody else could’ve put it better than you Prof. Alex Edmans👏🏻
This video was packed with amazing information! I love how he ended the talk. "To reach the land of profits, follow the road of purpose." Wow!
Alex Edmans! Wow. Dude, you rock. "Companies that treat their workers better, do better" - great statement.
His such a good speaker, I was forced to pay attention
I'm currently taking business ethics class which cover CSR. This video helped me a lot. Thank you very much Alex Edmans and TEDx
Was about to watch an episode of a TV series and stumbled across during my study break, absolutely no regrets!
I am studying Corporate Law in Sweden. This speech really helped me to understand the concept of CSR. Great performance!
Thank you for this great explanation. really enjoyed your talk. it's very helpful for my CSR assignment i'm currently working on for a BSc in sociology. cheers.
On a light note, this theory reminds me of Micheal Scott, branch manager of Dunder Mifflin, Scratton( The Office Series). The way he treated his employees, like family meant that they were actually more productive.
I am writing my MA thesis on SRI, you speech has been inspirational! Thank you
Watched this alongside my lecture this week on CSR, and this was an amazing illustration of it all - SO enthralling
Great delivery Alex! I was engaged throughout and had to watch a few times to make notes for a boarder prospective in my business ethics lectures. Thank you ...
This talk deserves an award! Wow! Thank you Alex.
Excellently covers the core understanding of CSR..
We need practical and vivid ideas which in return can become an instrument of societal change not only in developed parts of the world but in LDCs too.
I liked the presentation and oratory excellence..
We still need a system which inherently checks the implementation of CSR initiatives assumed by companies regardless of their size.
Wow! Thank you, Prof. Alex. This is perfect!
I watched this for school. I didn't want to at first because of the time. I watched the first five minutes and couldn't stop watching it! Great job Alex!
Its really a great reminder for individual who have a business ownership which it is a perfect enlightenment for them responsible owners. As a speaker point out that being socially aware of our business means we are capable towards the success of our economy. I am so eager to learn his thoughts that we must have the capacity to be well rounded. Honestly, business is really essential in all walks as it promote and empower good governance and corporate social responsibility. Indeed, the author is amazing on his standpoints.
thank you! amazing video! i totally understand csr now. keep it up!
I've watched this 4 times now. Simply incredible.
Thank You for your sacrifices of 4 years and commitment. Very well done. Thank you.
This speech was just way too perfect urgg watched it more than once. Thank you😍
I was sleeping in a fundamental of management class, u speech shocked me and I am truly impressed by what u have done and prepared for this presentation.
Absolutely delightful to watch, and your analysis was brilliant. Well done Alex.
Best talk ever. Alex Edmans is amazing please check out his other talks.
A very insightful video which truly gives an accurate picture of CSR and businesses pursuing profit. Very well done!! Great presentation skills as well!
Such a great perspective to have. When you focus on taking responsibility and doing what's right, rather than making profit your sole purpose, the profits tend to come naturally. The real world is just way too complex to quantify.
Truly appreciate your research on this topic. Validates the qualitative, intrinsic values of social responsibility perfectly. Excellent presentation too! Thank YOU Alex!!!
Hi Alex, I am entering my senior year in my university and your speech was very inspirational and gave me motivation along with insight on my future approach. Thank you very much!
You're very welcome David! A separate talk on "the future" aimed at university students is "Fulfilling Careers and Full Lives" at bit.ly/fulfillingcareers. Good luck with everything!
wow I've enjoyed every minute of this vid.. thanks for the great lecture
Impeccable delivery 👏🏽
Terrific speech, and incredibly insightful and helpful. Thank you
I am taking an Organizational Behavior class and I truly love your whole discussion about Corporate Social Responsibility. Truly magnificent!
Thank you! Glad it was helpful!
Yes, but I thought that would be too generic (the phrase "Corporate Social Responsibility") is very common. Also, my title is deliberately the same title as the Friedman article in 1970, to show that thinking has changed dramatically in the past 35 years!
I could listen to him all day! great voice and presentation
loved the way he addressed the topic.
Hi, Alex. What a delight to find that my mini-MBA course at the LSE has directed all participants in Module 7 Analysing Financial Statements to this TEDx video in order to learn about CSR. Thank you! Everyone had positive feedback.
Wow thanks so much for passing this on Eleanor!
I really enjoyed it, it was easy to understand and the delivery was great too. I'm an undergraduate and I work on the innovation and CSR report so it was helpful. Thank You
Really powerful delivery
Very glad I came across this
It helped me understanding CSR and subscribed TEDx Talks immediately.
This was one of the best Tedx talks ever. THIS TALK IS WOTH LISTENING TO.
I experience it in my office as it mostly follows the moderate way the lecturer explains. This is a superb way of molding the ethics & corporate social responsibility of a business.
Remarkable presentation. 4 years of research is just amazing.
this is incredibly captivating
Really good presentation, thank you
VERY GOOD SPEECH I LIKE IT. WITH THIS SPEECH I CAN COVER TWO SUBJECT IN MY COURSE. THANK YOU ALEX
Thanks for this video. Great delivery. Very clear.
I would like to thank you so much for this video, it was so interesting and useful for my final thesis :) Have a great day!
Watching this for my GCSE it really helped me understand CSB thanks
Very good talk!... And your accent is to die for
Haha, thanks! I spent 10 years in the US, but still can't do an American accent.
Yes. I agree, it's captivating for listening enhancement, and elegant.
Thanks so much for this powerful video. Best i have seen so far, makes comprehension so easy.
You're very welcome, thanks for the kind comment!
The funny thing about business is that there are profits that aren't money such as good will, dedicated consumers, and a positive public image. If you maximize everything that isn't monetary then refine your business as much as possible without harming others you end up making just as much money in the end even though your goods cost the same as the competition. Why, because people see your brand, and automatically know its quality and know your company is one worth supporting. A good example is Bethesda as they hit a jackpot with the elder scrolls morrowind, and fallout 3 which were great games despite their bugs with Tod Howard being loved as a CEO and face of the company, however, in recent years Bethesda has soiled that positive image and will likely suffer for it either now or later.
Very important message! Thanks for sharing!
Wow! This was so insightful and useful!!👍🏼👍🏼
Amazing research .. Stay Blessed
I like your talk Alex. Business need to work through their purpose for increasing profit. It's just fine balancing game .
Fantastic view of CSR. It pulls together the essential elements of People AND Profit. Just imagine if we put a third leg on the corporate stool of Planet, too?
Much appreciated, thanks!
That is indeed one of the responsibilities of corporations.
must say best ted talk on csr.
such a good speaker and amazing performance
Very useful talk. Very inspiring too! Thanks from Argentina.
Thanks - happy to hear that!
Insightful, well-presented findings!
Awesome video! Hope I remember for my ethics paper tomorrow!
Im using this tostudy for a test and it really helped me, thank you so much for making these amazing informative videos
Employee turnover is a huge expense, so it makes sense that treating employees right is profitable. If you treat them right, they tend to stay with the company and then they become a part of your marketing. Happy employees promote their company to those who might need the company's services. It's all very logical...
This helped me out a lot to understand social responsibility. Glad i found you. Thanks
You're welcome - thanks for the kind words!
Greatly articulated!!
Well done, Alex. Very helpful 😘
Very true and very inspirational, we had the chance to watch your video in our management class, so glad to hear your speech like this, it's something which might help everyone change the way they think!
Thank you! And please thank your professor on my behalf for showing it in class (or let me know who it is so I can thank him/her)
Listened to it as it was part of the MBA coursework. Good details and great delivery, and especially liked the shout-out to Costco. Can someone please correct the transcript? For example, that accent caused "2015" to be transcribed as "2050"
I love your thinking. Any business worth it's salt yes. Unfortunately being ethical and socially responsible viewed as a luxury most of the time. Even governments try to undermine despite appearances.
WELL done, Mr. Edmans. Well done.
magnificent speech ! very helpful ! Thank you very much
insightful with a great explanation
I work at Costco, started looking for a corporate job, after watching this, gave up my search and I am content with costco
00:20 Businesses exist to earn profit and serve a purpose for shareholders, society, customers, employees, and the environment.
02:22 Profit is a by-product, businesses exist to serve a purpose
04:31 Employee well-being at best companies to work for positively impacts stock returns.
06:35 Treating employees better leads to better company performance
08:48 Treating employees well leads to higher firm value
10:52 Investing in socially responsible companies can lead to higher returns
12:59 Investors should look beyond short-term financial numbers and consider long-term value and qualitative measures.
15:06 Businesses exist to serve a purpose and generate profits in the long run.
Crafted by EasonAI AI.
Excellent presentation and delivery
Thankyou for this useful video
brilliant!, loved your presentation..enjoyable and educational
Much appreciated, thanks!
very, very good, Alex. thank you
You're very welcome!
Thanks I understand CSR better now
Hi Alex, great speech and very cool. I have done few assignments on CSR with my Masters and implemented few projects also. this was really helped me to do all. Great work. Thanks
You're very welcome - glad to be of help Shan and good luck with your Masters!
I would like to thank you so much for this video,,,Thank YOU
Great talk with clear evidence and very nice accent
I learned a lot from thiss. This is so informative plus the speaker delivers it so well I have no choice but to watch till the last second
Brilliant! So inspirational!
Thank you so much!
Thank you for your brilliant talks about CSR! I have been watching your video clips on TH-cam since I watched this. VERY INSPIRING!!! I am a student in The University of St. Gallen, Switzerland, writing a short essay about CSR/Philanthropy in a banking industry after financial crisis in Switzerland. Would you recommend any scholars or journals regarding this topic? OR Would you please share your thoughts? It would be very appreciated. Thank you again for sharing your thoughts!
Thanks for your kind words Boram. Please see "Social Capital, Trust, and Firm Performance: The Value of Corporate Social Responsibility during the Financial Crisis", forthcoming i the Journal of Finance by Lins/Servaes/Tamayo, at ssrn.com/abstract=2555863
Thank you for your quick response, Mr. Edmans. I hope to see you in the near future. Just realized that I missed the conference last year in Zurich.
FANTASTIC TALK!
very good presentation and very interesting topic
This had me in tears. What happened to people and the pursuit of happiness?
my boss advised me to watch this, and i can honestly say, this was so insightful, good presentation skills and confidence on point... i will follow your videos for more talks
Brilliant!! To think long term value not short term numbers.
Thank you, sir, for an outstanding Ted talk
this guy killed it, great public speaker
Great video. Thanks!!
amazing video. thank you.
Wow. Excellent content and speaker.
Well delivered!
That was a great presentation
Its really an inspiring video and its very true 👍