• Purpose and Profit with Kathy Varol

  • By: Kathy Varol
  • Podcast

Purpose and Profit with Kathy Varol

By: Kathy Varol
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  • Summary

  • Dedicated to sharing the stories of business visionaries who are intentionally establishing a purpose beyond profit. From economy building to the refugee crisis. From climate change to equity. Listen in to hear how business visionaries are having a positive impact on the world by using their brand.
    Kathy Varol
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Management Economics
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Episodes
  • 91. REPLAY: Mark Kramer on How Creating Shared Value Can Transform Business and the World

    91. REPLAY: Mark Kramer on How Creating Shared Value Can Transform Business and the World
    Sep 25 2024
    This is the #1 listened-to episode from the Purpose and Profit podcast. We’re doing a rerun, so if you’re new to the podcast, you don’t miss this great conversation. Professor Mark Kramer is a senior fellow at Harvard’s Kennedy School of Government and a former senior lecturer at Harvard Business School and visiting lecturer at the Haas School of Business at University of California, Berkeley. He is also a co-founder and advisor with both FSG and the Shared Value Initiative. Mark has worked with leading companies around the world to find sources of competitive advantage by incorporating shared value into their business. Shared Value is defined as “policies and operating practices that enhance the competitiveness of a company while simultaneously advancing the economic and social conditions in the communities in which it operates.” He is also a member of the Creating Shared Value Advisory Board at Nestle. Alongside Harvard Professor Michael Porter, Mark has helped to introduce new concepts such as catalytic philanthropy, collective impact, impact investing, and shared value. His course “Purpose & Profit” teaches creating shared value to both MBA’s and executives alike. In this episode, we discuss: How Paypal is impacting thousands of small business ownersHow an insurance company expanded the average lifespan of their customers by 10 yearsWhy government and NGOs won’t be able to solve the world's biggest problems Key Takeaways: How you do business is a choice. Instead of setting a bar of “do no harm” we can choose to act in a way that will leave the world better off because we existed. We can aim to delight future generations by the choices we make today.The examples Mark shared were so powerful at illustrating how, when a purpose is embedded into the heart of the business, it impacts innovation, identifying new revenue streams, and ultimately impact consumers in a positive way.When looking for businesses that are purpose-led and focused on shared value, Prof Mark Kramer instructs his students at Harvard Business School to look for companies that don’t have a separate Corporate Social Responsibility or Sustainability department. If these activities are separate, they are rarely business integrated. What a great point, and a great reminder to business leaders. If you want your company to stand for something, and lead in that thing—whether it’s being the most sustainable company in your industry, or like PayPal, democratizing access to financial tools—everyone in the company should be working to make it happen, not just one department. References: FSG resources on shared valueShared Value Initiative page, “What Is Shared Value?”“Creating Shared Value”, Harvard Business Review, 2011PayPal Working CapitalUnilever’s page for the Dove Campaign for Real Beauty and related pledges Connect & Share: If you enjoy the podcast, would you please consider leaving a short review on Apple Podcasts/iTunes? It takes less than 60 seconds, and it really makes a difference in helping to convince hard-to-get guests. I also love reading them! If this episode resonated with you, I ask you to send it to a friend. Help bring even more visibility to these leaders that are using business as a force for good! Subscribe to the Purpose and Profit newsletter to make sure you don’t miss future episodes. This podcast is for you, the listener. I’d love to hear what resonated with you, or if you have a suggestion on who would be a great guest for this show. Please send me a note at info@KathyVarol.com.
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    50 mins
  • 90. Katherine Neebe on Sustainablility in the Energy Industry

    90. Katherine Neebe on Sustainablility in the Energy Industry
    Sep 11 2024

    Katherine Neebe serves as senior vice president of national engagement and strategy, and chief sustainability and philanthropy officer for Duke Energy. She leads Duke Energy’s stakeholder engagement efforts to develop solutions to meet customer needs for continued reliable and affordable energy—while simultaneously working to achieve the company’s goal of net-zero carbon emissions by 2050.

    In addition, Katherine maintains oversight of the Duke Energy Foundation, which provides philanthropic support to help meet the needs of communities where Duke Energy customers live and work.

    In this episode, we discuss:

    ● Nuclear power’s resurgence

    ● Modernizing the power grid

    ● The surprising reason the US power industry has been able to reduce emissions by 40%

    Key Takeaways:

    ● Tipping Point Industries: Tipping points can be for the better or the worse. When it comes to creating a sustainable future, there are tipping point industries that can have an oversized impact on our collective emissions reductions. The energy sector, for example, is foundational—it powers our lives and businesses. By making it sustainable, we create a massive ripple effect that benefits every organization and individual relying on it. Similarly, transportation is another cornerstone sector. Innovation in tipping point industries can profoundly impact our collective path to sustainability.

    ● Energy: The Force of Transformation: Physics teaches us that energy cannot be created or destroyed, it merely changes from one form to another. This principle allows us to power entire cities by harnessing, transporting, and converting energy. It got me thinking—what do you want to power with the energy within you? What do you want to build and sustain with your life force? Reflecting on how you harness your energy can lead to a legacy that outlasts you.

    ● Levers for Change: Three levers for driving sustainability are: business, government, and philanthropy. These forces work together, to create combined change that’s more than the sum of its parts. Like sustainability, most areas in life have multiple levers to create change, where a combined effort produces the best results. If there's something in your life, or your business, that you want to change, take some time to consider what the levers of change are for that thing. Chances are, your best results will come from approaching change from multiple directions.

    References:

    ● Connect with Katherine on LinkedIn

    ● Duke Energy

    ● The U.S. National Science Foundation page on the CHIPS and Science Act

    Connect & Share:

    If you enjoy the podcast, would you please consider leaving a short review on Apple Podcasts/iTunes? It takes less than 60 seconds, and it really makes a difference in helping to convince hard-to-get guests. I also love reading them!

    If this episode resonated with you, I ask you to send it to a friend. Help bring even more visibility to these leaders that are using business as a force for good!

    Subscribe to the Purpose and Profit newsletter to make sure you don’t miss future episodes.

    This podcast is for you, the listener. I’d love to hear what resonated with you, or if you have a suggestion on who would be a great guest for this show. Please send me a note at info@KathyVarol.com.
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    58 mins
  • 89. Breene Murphy on a “Divest, Reinvest, Pressure the Rest” Climate Investing Strategy

    89. Breene Murphy on a “Divest, Reinvest, Pressure the Rest” Climate Investing Strategy
    Aug 28 2024
    Breene Murphy is the president of Carbon Collective, a climate investment advisor. They create low-fee investment portfolios for employer 401k plans and individuals that divest from fossil fuels and reinvest in climate solutions. They have launched two Exchange Traded Funds (ETFs): a climate solutions equity ETF (ticker: CCSO), and a green bond fund (ticker: CCSB).. Carbon Collective is an implementation partner of Project Drawdown, and a member of Rewiring America’s CEOs for Electrification coalition. If you are responsible for your company’s 401K plans, look to Carbon Collective’s ETFs as a sustainable option to offer employees. In this episode, we discuss: ● What an ETF is, and why Carbon Collective needed to create their own ● How an investment portfolio is made ● Why it’s important to invest more funds into climate solutions companies Key Takeaways: ● Investing: Simplify the Complex. Investing can feel like trying to decipher a foreign language. You're either lost in the weeds or barely skimming the surface. Here's my straightforward advice: First, if you're in the USA, start investing in your 401K as early as possible, and always contribute at least the maximum amount that your company matches. There is no fallback social system to rely on in retirement. Second, remember that your investments are your bets on the future. When you put your money into a company, you're saying, "I want this company to be part of tomorrow's world." So, invest with intention. Make sure your financial choices align with the future you want to live in. ● Expanding Investment Choices. For markets to genuinely reflect individual choices, people need a full spectrum of options. Carbon Collective stepped in to fill a significant gap by creating new ETFs and 401K portfolios that exclude fossil fuel companies—something that was missing in the market. Considering that 401Ks are the primary retirement-saving vehicle for Americans, having no option to align those investments with personal values means the market can’t truly reflect individual preferences. It’s like having a dessert bar that only offers ice cream and then assuming everyone’s favorite dessert is ice cream. True choice requires diverse options. ● Helping: The Antidote to Helplessness. Before we started recording, Breene shared his eye-opening experience of joining the workforce and realizing that most adults are just figuring it out as they go, struggling along the way. This shattered the illusion that adults “have it figured out”. He talked about the impact helping those around him had on his career. It reminded me of the phrase "helping is the antidote to helplessness". No matter what, every life journey will have spots that feel helpless. This phrase is a nice reminder. Helpful acts not only lift others up but also pull us out of our own helpless ruts, reminding us that we have the power to make a difference. References: ● Connect with Breene on LinkedIn ● Carbon Collective ● Project Drawdown ● International Energy Agency ● Rewiring America Connect & Share: If you enjoy the podcast, would you please consider leaving a short review on Apple Podcasts/iTunes? It takes less than 60 seconds, and it really makes a difference in helping to convince hard-to-get guests. I also love reading them! If this episode resonated with you, I ask you to send it to a friend. Help bring even more visibility to these leaders that are using business as a force for good! Subscribe to the Purpose and Profit newsletter to make sure you don’t miss future episodes. This podcast is for you, the listener. I’d love to hear what resonated with you, or if you have a suggestion on who would be a great guest for this show. Please send me a note at info@KathyVarol.com.
    Show More Show Less
    28 mins

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