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New Business Book Rejects Myth that Higher Purpose Equals Lower Profits

Submitted by: Christine Arena

Categories: Business Ethics

Posted: Dec 13, 2004 – 11:00 PM EST

 

'Cause for Success' Profiles Cases of Corporate Responsibility and Economic Growth.This book will excite you about the powerfully positive role that corporate America is capable of playing. - Tony Schwartz, bestselling author of What Really Matters Cause for Success presents fascinating insights into a new paradigm for business success in the twenty-first century. It shows how a leading set of 'high-purpose' companies moved beyond charitable giving and used constructive social engagement as the central means of improving their performance in the marketplace. - Bradley Abelow, global head of operations of Goldman Sachs

SAN FRANCISCO -- New World Library announces the November publication of Cause for Success, a study of business ethics and success, by author and business consultant Christine Arena. Cause for Success: 10 Companies That Put Profits Second and Came in First is the first to present detailed case studies told from the inside perspective of CEO's that clearly demonstrate how social responsibility can drastically improve corporate health, growth and competitive edge. Each "high purpose" company featured in the book approached a serious world problem, such as poverty, inequity or environmental degradation, as a business opportunity, and made more money as a result.

"Some critics of social responsibility believe that companies that are too focused on doing things to improve people's lives or solve society's problems often get derailed from their top priority of maximizing shareholder returns," says Arena. "After three years researching this issue with corporate leaders and shareholders alike, I believe that these critics have it wrong. Not only do social responsibility and profitability mix, but doing good in the world can lead companies to become more profitable." The author asserts that corporate responsibility is one of the most important business trends of the twenty-first century and that companies that ignore its significance risk getting left behind.

Increasingly frustrated with news about corporate scandals, Arena wrote Cause for Success in order to make the public more aware of what companies are doing right, and what that means for the future. "Most people believe that the corporate world is responsible for a large portion of today's worst social and environmental problems," says Arena. "And although this belief is true, it is also true that corporations are better at solving these problems than other entities. More and more companies are waking up to the fact that it is within their best interest to try and do so. This is capitalism at its finest."

Arena finds reasons to be optimistic while she examines new paradigms for doing good and translating that good into profit. From Hewlett-Packard to British Petroleum, Avon, Stonyfield Farm and the Grameen Bank, Cause for Success profiles two case-study companies per chapter, exploring radical ideas about why ethics-driven companies are today's business trendsetters, how standing up for social justice garners competitive advantage, the bottom-line benefits of serving the world's poor, the potential business rewards of philanthropic partnerships, as well as how some of the worst corporate citizens have become some of the best.

CSRwire note: To read a sample chapter from Cause for Success in PDF format, click here.

ABOUT THE AUTHOR:
Christine Arena is the former managing director of Polese Clancy, a former strategy director for Zentropy Partners, and the co-founder of several businesses. She currently heads Cause for Success Seminars, an initiative that helps companies develop innovative and profitable corporate responsibility programs. Her insights have recently been featured on NPR's Motley Fool and Voice of America. Arena holds a master's degree from New York University and lives in San Francisco.

ABOUT THE BOOK:
Title: Cause for Success
Subtitle: 10 Companies That Put Profits Second and Came in First
Author: Christine Arena
On Sale Date: In Stores Now. Available at www.amazon.com
ISBN: 1-57731-457-3
Price: $14.95
This book is printed on 100% post consumer waste recycled paper

MORE PRAISE FOR CAUSE FOR SUCCESS:

"When you Google 'success,' the first hit should be Cause for Success! This is a rare book - profiling interesting leaders, packed with useful knowledge and well written and edited. Read it. Keep it close."
- John O'Neil, president of the Center for Leadership Renewal

"At a time when business confidence is depleted and cynicism about corporate conduct runs rampant, Christine Arena raises our sights and expectations. She reminds us that the companies that seek to make both a difference and a profit are the same ones that attract the most gifted and ambitious people. The cycle of virtue she describes is rooted in real case studies, not wishful thinking. Cause for Success is a cause for cerebration as well as celebration."
- Richard D. Parsons, chairman and CEO of Time Warner

"I loved this book. It will help all leaders redefine success in broader, longer-term ways previously overlooked in traditional business analysis."
- Jonathan S. Lavine, managing director of Bain Capital

"An important call to arms for all business executives to recognize the vital responsibility they have in this world."
- Philip Rowley, president of AOL Europe

"By examining several well-known and widely regarded examples, the author effectively argues that it is in fact the commitment to do the right thing that has differentiated these companies and driven their success."
- Amy Domini, president of the Domini Social Equity Fund

"Cause for Success makes a compelling case that the great companies of the future will be companies that have integrated the motive for profit with the imperative to care about their community and the environment."
- Jim Garrison, president of the State of the World Forum

"The stories in Cause for Success inspire hope. They remind us that it really is within our power to walk more lightly on this earth."
- Liz Dowdeswell, president of the Nuclear Waste Management Organization

For more information, please contact:

Monique Muhlenkamp New World Library
Phone: +1-415-884-2100 ext.

 

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