The Heart of Business: Leadership Principles for the Next Era of Capitalism

The Heart of Business: Leadership Principles for the Next Era of Capitalism


, reading-challenge-2021, junk, business, Business, Leadership, Nonfiction

A remarkable turnaround by a leader with a remarkable philosophy: Find your noble purpose. Put people at the center. Unleash human magic.

"It was Fall in Minnesota. It was getting cold and we were supposed to die." This is how Hubert Joly describes the early, dark days as CEO of Best Buy, a job most thought he was crazy to accept. Amazon was tearing a disruptive path through retail, but in the face of that existential threat Joly did something remarkable: he saved Best Buy and remade it into a thriving company rated as one of the most desirable businesses to work for.

Having recently stepped down as Chairman and CEO, Joly is ready to share the leadership principles that underpinned the resurgence of Best Buy and that he believes are at the heart of business: pursue a noble purpose, put people at the center, unleash human magic, and treat profit as an outcome.

There was a time when many would call this a soft philosophy. But times are changing. Best Buy and 180 other companies signed the momentous Business Roundtable statement in support of stakeholder capitalism. The Covid-19 pandemic further pushed many businesses to lead from a place of purpose and with humanity. The changes underway are not a revolt, but a revolution. And Joly provides concrete advice on how to implement principles that can serve as beacons for the next era of capitalism.

Joly himself was transformed from a hard-charging, deeply analytical McKinsey consultant to a leader who believes in what he calls human magic. He will share how so much of what he initially learned about management is either dated, incomplete, or simply wrong—including how to turn around a business, develop and implement a strategy, mobilize an organization, and what it takes to be a great leader.

The leadership principles Joly lays out worked at Best Buy. They can also contribute to the necessary re-foundation of business and capitalism around purpose and humanity.

Title:The Heart of Business: Leadership Principles for the Next Era of Capitalism
Edition Language:English
Format Type:

    The Heart of Business: Leadership Principles for the Next Era of Capitalism Reviews

  • Alireza Hejazi

    Based on the author’s knowledge and professional experience, this book shares the leadership values that may be considered as the essence of business. It exemplifies the kind of leadership that corp...

  • Natesh

    The book is as much about Best buy as it is about purposeful leadership. Hubert Joly synthesizes all the lessons he learnt from his successful career at the helm of various companies. He clearly lays ...

  • Shilpa

    Hubert has very well captured, analyzed his experiences and also has converted themInto key learnings which anyone can leverage and implement in a daily life whether you work in a corporate or anywher...

  • Isaure Badre

    A post Covid must read The heart of business is a journey. A professional and a personal one. That leads us from McKinsey at the time of the triumph of Milton Friedman in the 80’s to the turn around...

  • Michelle

    Read excerpt on WSJ 4/24/2021 - Joly joined Best Buy without prior experience. He spent the first few days in the store understanding the business and focused on solving only two problems. ...

  • Jill

    Disclaimer, I work by Best Buy where Hubert was our CEO for awhile including when I worked there. I really enjoyed his outlook on work in this book, but I also think that it seems he didn't get to whe...

  • Ietrio

    Capitalism has died back in the 19th century. 20th century was the time of mass produced killings and unprecedented expansion of the Total State. But here is a witch doctor that will do the rain dance...

  • Varun

    A blog, not a book. More like a blog post than a book. Nothing new here. Refashioning the purpose of business, of work, and of capitalism via purpose, mission, and people. Have heard the story before....

  • Greg

    This is a truly remarkable account on how the right kind of leadership will take an organization to the next level of success. Hubert Joly was able to show us in this book that by going to the heart o...

  • Tlangemo

    Tremendous book. For me, life changing in the timing and circumstance of reading it. ...