How Doing Good Is Great for Business with @StevenOverman
Doing good is great for business believes Steven Overman, author and Chief Marketing Officer (CMO) of Kodak. Overman’s new book Conscience Economy reflects the change in the way we interact and advocate, or rebel, against the products we buy. Kodak’s new CMO believes that today’s new generation wants to make the world better. The implications of this is key to the way we lead people, how businesses interact with customers, and ultimately how businesses are viewed by today’s very informed and connected consumer.
Overman advocates that a business needs to be beneficial beyond the value generated for shareholders. Businesses need an opaqueness and to “do good things to generate trust.”
In my conversation with Overman, he explains to me that the word choice–conscience–was deliberate. He choose it over conscious because there is action guiding a conscience person who understands the difference between right and wrong. A conscious person is awake to one’s surroundings, but lacks the action part. It’s the action that is key to Conscience Economy. We need to move beyond the awareness that businesses have a responsibility to do good for society. We need more businesses that act on and use the power they have to do good for stakeholders, not just shareholders.
The interview with Steven Overman is lively. If his wisdom and boldness are an indicator of his leadership, Kodak, one of the world’s most iconic brands, has a chance to show us its muscle in the 21st century. Certainly this will take more than one person. Overman’s philosophy is well suited for today’s beliefs about business. It will be interesting to see how Overman unites his philosophy captured in Conscience Economy with Kodak’s rich history. I’ll be watching.