A Wall Street Journal BestsellerNamed a Financial Times top titleHow to unleash "human magic" and achieve improbable results.Hubert Joly, former CEO of Best Buy and orchestrator of the retailer's spectacular turnaround, unveils his personal playbook for achieving extraordinary outcomes by putting people and purpose at the heart of business.Back in 2012, "Everyone thought we were going to die," says Joly. Eight years later, Best Buy was transformed as Joly and his team rebuilt the company into one of the nation's favorite employers, vastly increased customer satisfaction, and dramatically grew Best Buy's stock price. Joly and his team also succeeded in making Best Buy a leader in sustainability and innovation.In The Heart of Business, Joly shares the philosophy behind the resurgence of Best Buy: pursue a noble purpose, put people at the center of the business, create an environment where every employee can blossom, and treat profit as an outcome, not the goal.This approach is easy to understand, but putting it into practice is not so easy. It requires radically rethinking how we view work, how we define companies, how we motivate, and how we lead. In this book Joly shares memorable stories, lessons, and practical advice, all drawn from his own personal transformation from a hard-charging McKinsey consultant to a leader who believes in human magic.The Heart of Business is a timely guide for leaders ready to abandon old paradigms and lead with purpose and humanity. It shows how we can reinvent capitalism so that it contributes to a sustainable future.
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For a refoundation of business and capitalism around purpose and humanity.
Having recently stepped down as Chairman and CEO of Best Buy, Joly shares the leadership principles illustrated by multiple vivid and concrete stories that underpinned the remarkable resurgence of Best Buy and that he believes are at the heart of business: pursue a noble purpose, put people at the center, embrace all stakeholders, and treat profit as an outcome.
There was a time when many would call this a soft philosophy. But times have changed. The world and business are facing unprecedented challenges. Business can be, in fact needs to be a force for good. In 2019, Best Buy and 180 other companies signed the momentous Business Roundtable statement in support of stakeholder capitalism, highlighting that you can do well by doing good. The Covid-19 pandemic further pushed many businesses to lead from a place of purpose and with humanity.
Joly himself transformed from a hard-charging, deeply analytical McKinsey consultant to a leader who believes in what he calls human magic or how to mobilize people to give their best, which translates into extraordinary performance.
Joly shares how so much of what he initially learned about management is either dated, incomplete, or simply wrong. Drawing from multiple sources of inspiration as well as his rich experience, he offers a set of essential leadership principles and provides concrete advice on how to turn them into action including how to turn around a business without everyone hating you, how to develop and implement a strategy in a way that truly inspires and mobilizes, how to concretely embrace and align all stakeholders around a noble purpose, how to unleash human magic and create outcomes that defy logic, and how to become a great leader by pursuing a noble purpose and embracing your humanity.
This is not a revolt, but a revolution. Joly's principles helped transformed Best Buy and other companies he led. Even more importantly, they are a major contribution to the necessary re-foundation of business and capitalism around purpose and humanity.
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