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The co-op bookstore for avid readers
The Heart of Business: Leadership Principles for the Next Era of Capitalism
A Wall Street Journal Bestseller
Named a Financial Times top title
How 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.
Book Details
- Publisher: Harvard Business Review Press
- Publish Date: May 4th, 2021
- Pages: 304
- Language: English
- Edition: undefined - undefined
- Dimensions: 9.30in - 6.20in - 1.20in - 1.10lb
- EAN: 9781647820381
- Categories: • Leadership• Industries - Retailing• Workplace Culture
About the Author
Hubert Joly is the former Chairman and Chief Executive Officer of Best Buy Co., Inc. where he led the company's turnaround and transformed it into an industry leader, consistently rated one of the best places to work for. He is now a senior lecturer at the Harvard Business School.
He is also a member of the board of directors of Johnson & Johnson and Ralph Lauren Corporation, and a vice chairman of the Business Council. He has endowed the Joly Family chair in Purposeful Leadership at HEC Paris where he actively collaborates with the faculty.
Prior to Best Buy, he was the CEO of Carlson Companies, a global leader in the hospitality and travel industry, a senior executive at Vivendi S.A., the president of EDS France and a partner at McKinsey & Company. He is a graduate of HEC Paris and Institut d'Etudes Politiques de Paris.
Hubert has been recognized as one of the top 100 CEOs in the world by Harvard Business Review, one of the top 30 CEOs in the world by Barron's, and one of the top 10 CEOs in the US by Glassdoor. He is a knight in the French Legion of Honor and the French National Order or Merit.
Writer Caroline Lambert has collaborated on books with a wide range of change makers and thought leaders, including the former President of Malawi, anti-corruption crusaders, and entrepreneurs and government officials. Most recently, she cowrote the bestseller Aligned with Hortense le Gentil.
As a journalist and Deputy Asia Editor for The Economist, Caroline wrote about business, economics, and politics, earning the Diageo Africa Business Reporting Award and the Sanlam Award for Excellence in Financial Journalism. Caroline holds an MBA from INSEAD and an MA in international relations from the Johns Hopkins University's School of Advanced International Studies, where she was awarded the Groove Haines Award in International Policy. She is a former Visiting Fellow at the Center for Global Development.
You can find Hubert Joly at linkedin.com/in/hubertjoly/.
Praise for this book
Named one of the Best Books of the Year by Bloomberg
"This is one of those candid books about life at the top that you will want to read for its own magic." -- The Institute of Leadership and Management Edge magazine
"Hubert Joly is one of my business heroes. ...A new age of business requires a new approach to leadership...To understand the new model, read this book." -- Alan Murray, FORTUNE
"Joly, former CEO of Best Buy, debuts with a striking call to action for managers of companies large and small to 'make business and the world better places.'" -- Publisher's Weekly
Advance Praise for The Heart of Business:
"The Heart of Business will be the defining business book of this decade. Hubert Joly shares his highly successful, simple, profound insights that reprioritize purpose, people, and profit. His proven philosophies are a brilliant guide for all leaders and companies preparing to rapidly pivot toward serving all stakeholders in this new age of inclusive capitalism." -- Angela Ahrendts, former Senior Vice President, Apple Retail; former CEO, Burberry
"Best Buy's turnaround under Hubert Joly's leadership was remarkable--a case study that should and will be taught in business schools around the world. Bold and thoughtful--he has a lot to teach." -- Jeff Bezos, founder and CEO, Amazon
"Leaders often focus on the technology and business transformations underway. In The Heart of Business, Hubert Joly shows us what true and effective leadership is really about: articulating a noble purpose, putting people at the center, embracing all stakeholders, and treating profit as an outcome." -- Aicha Evans, CEO, Zoox
"Hubert Joly is a refreshing voice on organizational transformation, and with The Heart of Business he now shares an equally visionary perspective on the next potential phase of stakeholder capitalism. This is must-read material for anyone looking to understand modern business as a force for global good, the changing nature of leadership, and why deep purpose needs to be at the heart of everything we do." -- Alex Gorsky, Chairman and CEO, Johnson & Johnson
"In his inspiring and transformative book, The Heart of Business, Hubert Joly uses his years of experience at Best Buy to clearly show the importance of purposeful and human leadership and how to implement it. This playbook for 'unleashing human magic' will change hearts and minds not only on how companies are run but how business and capitalism are taught in business schools. This is a must- read and a defining book of our time." -- Arianna Huffington, founder and CEO, Thrive Global
"The philosophy of Hubert Joly's The Heart of Business is from his heart and one he has shared personally as a director of our company for over a decade. His belief that the journey to success is led by pursuing a noble purpose and putting people first is part of what he calls 'human magic.' The resurgence of Best Buy under his former leadership is just one example of the transformative power of those heartfelt principles. Over these many years it has been my privilege to be inspired by Hubert's honest sharing of these experiences firsthand. The Heart of Business is a unique and very human guide to true leadership and ways to work together, especially during these challenging times." -- Ralph Lauren, Executive Chairman and Chief Creative Officer, Ralph Lauren Corporation
"Through great storytelling and lessons from his own experience, Hubert invites us to think deeply about a company's purpose--to contribute to the common good and serve all its stakeholders in a harmonious fashion by unleashing human magic--and offers a set of principles and prac...