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Center for Creative Leadership
Center for Creative Leadership

Leaders across Asia acknowledge the need to move from shareholder capitalism to stakeholder capitalism says a report by Center for Creative Leadership

ANI | Updated: Oct 06, 2022 18:01 IST

New Delhi [India], October 6 (ANI/BusinessWire India): Center for Creative Leadership (CCL), a top-ranked, global, non-profit provider of leadership development, highlighted in its report titled Beyond Doing Good - Six mindset shifts for purposeful leadership how leadership teams will need to nurture organizational purpose, making it more central in culture, business strategy, and talent engagement.
Authored by Sunil Puri, Head of Research and Development, CCL and Elisa Mallis, Managing Director & Vice President, APAC, CCL, the report examines how the pandemic has awakened leaders across Asia to the need to move towards stakeholder capitalism as opposed to shareholder capitalism.
Based on in-depth interviews with 20 C-suite leaders and board directors across Asia, the report articulates the six shifts organizations must make as they evolve into more socially accepted and financially better-off versions of themselves in the future.
The six mindset shifts outlined include altruism to impact, nation-centric to world-centric, short-term to long-term, exclusive to inclusive, organizational to personal, and why to how.
Business leaders across the private and public sector recognize that the world has entered an era where inclusive growth is essential to preserving global stability and well-being. Focusing primarily on maximizing profits to shareholders is no longer enough. Business focus has been shifting at an accelerated pace, evident from 2019 when 181 CEOs of the Business Roundtable adapted a new statement on the "purpose of a corporation," declaring that "companies should serve not only their shareholders, but also deliver value to their customers, invest in employees, deal fairly with suppliers, and support the communities in which they operate."
Business leaders now recognize that longer-term, inclusive growth requires an ecosystem approach, focusing on the well-being of employees, customers, suppliers, communities, and the environment.
Speaking about the report, Sunil Puri, Head of Research and Development said, "Drawing from the collective wisdom of C-suite and board leaders, we have found that the post-pandemic world has created a new set of rules that corporations must live by. Adapting to this new world order will require a shift towards a purpose-driven organizational culture, where the top management is able to flex a different set of leadership muscles that encompass traits like humility, courage, and empathy."
For more information and to download the report, visit this link.
Notes to the Editor:
Quotes by some leaders from the research paper are as follows:
"This is a new era, and we are not going back to the narrative of shareholder primacy; any company that dares follow that route will be 'punished' by the society, customers, employees, and most certainly by investors," as articulated by a senior corporate leader.

"Altruism is not very commonly associated with business; conventional wisdom suggests that business is played on a competitive playground and often a zero-sum game, but interestingly it [altruism] forms the basis of our organization," shared a senior business leader in a regional organization.
"Green washing can provide some short-term gains; in the long term, however, stakeholders are able to see through the dressing up of the sustainability report," a senior leader said.
Center for Creative Leadership
The Center for Creative Leadership (CCL)® is a top-ranked, global, nonprofit provider of leadership development. Over the past 50 years, we've worked with organizations of all sizes from around the world, including more than 2/3 of the Fortune 1000. Our cutting-edge solutions are steeped in extensive research and our work with hundreds of thousands of leaders at all levels. To learn more visit ccl.org.

About Authors
SUNIL PURI Center for Creative Leadership
Sunil Puri is Asia Head of Research and Product Development at the Center for Creative Leadership. He is a seasoned leadership and human capital researcher and thought leader with more than 20 years of experience across large global organizations. Sunil has authored several research studies, including BOLD 3.0: Future Fluent Board Leadership in Asia, Imagining Asia 2030: Future Fluent Asian Leader, Architecting Future Fluent Culture: Critical Role of Human Resources (Asia Study), Developing Global Asian Leaders: From Local Stars to Global CXOs, CHRO 3.0: Preparing to Lead the Future HR Function in Asia, HR Leadership Stall Points and Developing Next Generation Indian Business Leaders: The Keys to Success. In 2015, he co-edited a book titled Human Capital Insights: Inspiring Practices from Asia, for Asia. Sunil is an alumnus of the Indian Institute of Technology (IIT), Delhi, India, and the Indian Institute of Management (IIM), Ahmedabad, India.
ELISA MALLIS Center for Creative Leadership
With over 20 years of experience as a business leader with a focus on transformational change and human capital strategy, Elisa, Managing Director and Vice President, APAC of the Center for Creative Leadership, leads CCL's efforts in SE Asia, India, North Asia, and Australia to accelerate the leadership development and results of clients throughout the region, and is also a member of CCL's Executive Team.
Based in Singapore, Elisa contributes to CCL's unique Asia-focused research agenda, presenting highlights at regional conferences and most recently featured on BBC World News, Bloomberg Radio, CNBC, and Forbes. Elisa holds an M.A. in Organization Development and an M.Ed. in Counseling Psychology from Columbia University. She currently serves on the Board of Governors for the American Chamber of Commerce in Singapore.
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