Businesses that are fair are more likely to succeed and persist for the long-term, in an investment and capitalist system that has more trust and longevity. That's the opportunity identified and explored in this book.
Fairness is a key foundation for how humans see the world. The principle of fairness is more fundamental to people than is the concern about inequality - after all, some inequality is fair. Business and investment can and should rise to the global challenge of unfairness, helping to restore opportunity and growth. Fairness in Business demonstrates how businesses can refocus on fairness in their relationships with customers and other stakeholders in order to spark value-creation, and reawaken long-term opportunity and performance. All too often, business misses the chance to deliver fairly in its stakeholder relationships, and suffers in the long-run for doing so. Investors sometimes cheer such actions from the sidelines, and then are later left to tidy up the negative financial consequences. This book identifies some of these investment and business failures, as well as developing an approach to navigate to a better mode of business - for society and for all of our long-term prosperity.
The book is relevant to those working in companies and investment businesses, as well as a broader readership across private, public and non-profit worlds.
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Paul Lee is chair of the UK Endorsement Board, charged with leading the UK's efforts to influence the development of accounting standards. A 25-year ESG and stewardship practitioner in the investment world, he was most recently Head of Stewardship and Sustainable Investment Strategy at Redington, the investment consultancy. Paul helped create and build the Hermes Equity Ownership Service world-leading stewardship business, and was also the first global head of governance and stewardship at Aberdeen Asset Management. A former journalist (on business journals at Euromoney and the Economist Group), Paul has continued to write throughout his City career. He writes the Sense of Fairness blog.