Warby Parker's Neil Blumenthal on philanthropic capitalism
Seth White stashed this in Work & Productivity (Takin' Care of Bidness)
I appreciate his worldview...
The co-founder of the Warby Parker eyeglass company speaks with MPR's Chris Farrell about doing business and doing good. Blumenthal says businesses can't be "shareholder-centric," they must consider ALL of their stakeholders-- customers, workers, community and the environment.
...but not every business has this luxury.
First a business must survive. Then a business can move up the Maslow hierarchy.
I agree. The luxury of high merchandise margins in both of Blumenthal's ventures (i.e. Warby Parker & Harry's) makes "doing well by doing good" a much more realistic idea for him. I'd venture to guess that even the most profitable airlines, for example, could find much wiggle room for such rigorous corporate philanthropy.
Yes, luxury businesses have this luxury more than service businesses and commodity businesses.