![]() Marc Benioff, CEO of Salesforce, has gone so far as to pronounce capitalism as we know it to be dead, saying that “business leaders need to embrace a broader vision of their responsibilities.” And in a letter to fellow CEOs, BlackRock’s Larry Fink has called for “a more sustainable and inclusive capitalism.”īut are firms suitable vessels for people’s moral and even spiritual aspirations? Can they fill the void many stakeholders may feel as a result of the decline of family, community, and institutions? When faith in government declines, are private enterprises able to compensate? ![]() Workers and investors, meanwhile, will want more than financial rewards in order to accept the actions of leadership. Customers have long sought meaning from consumption, but more of them now will want a sense of purpose as well. Now, by contrast, business leaders must recognize that they may have to pay for meaning on behalf of customers, employees, and even shareholders. Veteran ad man Douglas Atkin, in his 2004 book The Culting of Brands, wrote, “People today pay for meaning more than they pray for it.” ![]() Accordingly, firms were urged to nurture a cultlike devotion from their customers. ![]() ![]() Once upon a time, it was supposed by some in business that consumption had supplanted religion in our lives. ![]()
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