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Grow the Pie: How Great Companies Deliver Both Purpose and Profit

Alex Edmans (Goodreads Author)

really liked it 4.00 · Rating details · 49 ratings · 2 reviews

What is a responsible business? Common wisdom is that it's one that sacrifices profit for social outcomes. But while it's crucial for companies to serve society, they also have a duty to generate profit for investors – savers, retirees, and pension funds. Based on the highest-quality evidence and real-life examples spanning industries and countries, Alex Edmans shows that ...more

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Kindle Edition, 250 pages

Published March 26th 2020 by Cambridge University Press

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Sep 27, 2020 Mark Kissack rated it it was amazing

Alex Edmans' "Grow The Pie" is a timely reminder that purpose driven businesses are not sacrificing profit, but are finding ways to increase their profits by innovative business models. I thoroughly recommend this book for those who want to know more about purpose-driven businesses. ...more

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Feb 14, 2021 Megan rated it it was amazing

Shelves: books-read-2021, non-fiction

Alex Edmans is Professor of Finance at London Business School. I first came across him via the Gresham College lectures on leadership he delivered last year. He is an exceptionally researched and balanced author in the field of business so I was excited to read his first book Grow the Pie.

Grow the Pie is for anyone who believes, wants to believe or wants to be challenged to believe that the best companies can deliver both value to society (via a clear socially positive purpose) and profit.

The Pi Alex Edmans is Professor of Finance at London Business School. I first came across him via the Gresham College lectures on leadership he delivered last year. He is an exceptionally researched and balanced author in the field of business so I was excited to read his first book Grow the Pie.

Grow the Pie is for anyone who believes, wants to believe or wants to be challenged to believe that the best companies can deliver both value to society (via a clear socially positive purpose) and profit.

The Pie represents the value an enterprise generates for society. The book then primarily discusses those that believe that the pie is fixed (if you benefit one stakeholder it must be to the detriment of another) or that the pie can grow (all stakeholders can benefit if you manage your company properly).

What ensues is what feels like Alex's combined career to date worth of research and study. A magnum opus. And it's a good one.

Alex writes like Cordelia Fine, one of my favourite researchers in gender; this means he presents all the primary arguments around a position, before presenting where his argument fits, and then backs it up with evidence that you can check for yourself. I love how he says "evidence is not proof". That proof is universal, while evidence shows that something may work in a specific situation or geography and can't be held to be universal. He is prepared to be challenged, and challenges his own thinking.

Alex challenges the mainstream thinking of both the right and the left, making simple polarisation and populism seem ridiculous. He sees the world as complex with no simple answers, business is hard work, but it is doable. And his work on executive pay is outstanding.

I felt challenged and skeptical many times. I've worked in operational businesses for over 30 years and am now a leadership and team effectiveness coach, and so many of the people I work with may intellectually agree with him but fail to implement. This failure to implement is what drives me every day to do what I do. There's so much to do.

I was reminded of my favourite children's book "The Three Little Wolves and the Big Bad Pig" in which the little wolves (the enterprises) build bigger and bigger defences against the Big Bad Pig (the investors, other stakeholders) until they realise that it is easier and more profitable to their wellbeing to set down their defences, build a house of flowers and invite the Pig to stay, building a lifelong friendship.

Ultimately this book provides a blueprint for excellent purpose driven and profit filled leadership. I'd love to see this as the primary culture in business. I think we have a LONG way to go.

A great book for anyone in business, especially those starting a business from scratch. In this book is a great manifesto to ensure you start on the right path.

This review is for the Audiobook version narrated by Alex Edmans. I'm not normally an audiobook fan however this was a great way to listen as the book is full of quite dense information made easier by being narrated. Much like his lectures. I have since bought the Kindle version.
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