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<div style="text-align: center;" align="center"><span style="font-size: 16px; font-weight: normal; font-family: Calibri, Helvetica, Arial, sans-serif;">In conversation with</span></div>
<div style="text-align: center;" align="center"><span style="font-size: 20px; font-family: Calibri, Helvetica, Arial, sans-serif;">Robert Quinn & Anjan Thakor</span></div>
<div style="text-align: center;" align="center"><span style="font-size: 18px; font-weight: normal; font-family: Calibri, Helvetica, Arial, sans-serif; font-style: italic;">The Economics of Higher Purpose</span></div>
<div style="text-align: center;" align="center"><br></div>
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<span style="font-size: 16px; font-weight: normal; font-family: Calibri, Helvetica, Arial, sans-serif;">Click </span><a href="http://www.insideasiapodcast.com/corporate-purpose/" rel="noopener noreferrer" target="_blank" style="font-size: 16px; font-family: Calibri, Helvetica, Arial, sans-serif; color: rgb(207, 143, 18); font-weight: normal; font-style: normal; text-decoration: underline;">here</a><span style="font-size: 16px; font-family: Calibri, Helvetica, Arial, sans-serif; font-weight: normal;"> to listen to the full </span><span style="font-size: 16px; font-family: Calibri, Helvetica, Arial, sans-serif; font-style: italic;">Inside Asia</span><span style="font-size: 16px; font-family: Calibri, Helvetica, Arial, sans-serif; font-weight: normal;"> episode</span>
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<span style="font-size: 16px; color: rgb(0, 0, 0); font-family: Calibri, Helvetica, Arial, sans-serif;">2020 has been a headline year, dominated by news of a global pandemic, US elections, Brexit and China’s rise to power. On the business front, Corporate Purpose has emerged as the theme of the year. It comes on the back of an </span><a href="https://www.businessroundtable.org/business-roundtable-redefines-the-purpose-of-a-corporation-to-promote-an-economy-that-serves-all-americans" rel="noopener noreferrer" target="_blank" style="font-size: 16px; color: rgb(54, 97, 189); font-family: Calibri, Helvetica, Arial, sans-serif; font-weight: normal; font-style: normal; text-decoration: underline;">August 2019 statement</a><span style="font-size: 16px; color: rgb(0, 0, 0); font-family: Calibri, Helvetica, Arial, sans-serif;"> released by the US-based Business Roundtable, calling into question the primacy of shareholders. For the past 50 years, corporations have operating on the principle that the </span><span style="font-size: 16px; color: rgb(0, 0, 0); font-family: Calibri, Helvetica, Arial, sans-serif; font-style: italic;">only </span><span style="font-size: 16px; color: rgb(0, 0, 0); font-family: Calibri, Helvetica, Arial, sans-serif;">responsibility of business is to generate profits for its shareholders.</span>
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<div><span style="font-size: 16px; color: rgb(0, 0, 0); font-family: Calibri, Helvetica, Arial, sans-serif;">With the world in such a muddle, that core idea is coming into question. If issues like climate change, inequality, and social justice aren’t addressed, there’s growing concern that societies everywhere will come face-to-face with collapse. Corporations, many believe, can make a difference</span></div>
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<span style="font-size: 16px; color: rgb(0, 0, 0);">Helping companies make that shift so that purpose and profits might co-exist is the work of my two guests this episode. </span><a href="https://www.linkedin.com/in/robert-e-quinn-57b9a9100/" rel="noopener noreferrer" target="_blank" style="font-size: 16px; color: rgb(54, 97, 189); font-weight: normal; font-style: normal; text-decoration: underline;">Robert Quinn</a><span style="font-size: 16px; color: rgb(0, 0, 0);"> and </span><a href="https://www.linkedin.com/in/anjan-thakor-73719b6/" rel="noopener noreferrer" target="_blank" style="font-size: 16px; color: rgb(54, 97, 189); font-weight: normal; font-style: normal; text-decoration: underline;">Anjan Thakor</a><span style="font-size: 16px; color: rgb(0, 0, 0);"> are US-based professors. Together, they have written </span><a href="https://www.goodreads.com/book/show/42926975-the-economics-of-higher-purpose?ac=1&from_search=true&qid=MsQpPs7Rc2&rank=1" rel="noopener noreferrer" target="_blank" style="font-size: 16px; color: rgb(54, 97, 189); font-style: italic; font-weight: normal; text-decoration: underline;">The Economics of Higher Purpose: Eight Counter-intuitive Steps for Creating a Purpose Driven Organization</a><span style="font-size: 16px; color: rgb(0, 0, 0);">. In our most recent </span><span style="font-size: 16px; color: rgb(0, 0, 0); font-style: italic;">Inside Asia</span><span style="font-size: 16px; color: rgb(0, 0, 0);"> episode, we touch on the traditional employer-employee contract, the new operating paradigm, and what it takes to bring a purpose agenda to life.</span>
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<div><span style="font-size: 16px; color: rgb(0, 0, 0); font-weight: bold;">Sizing Up the Corporate Purpose Paradox</span></div>
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<span style="font-size: 16px; color: rgb(0, 0, 0); font-family: Calibri, Helvetica, Arial, sans-serif;">What I learned was this: </span><span style="font-size: 16px; color: rgb(0, 0, 0); font-family: Calibri, Helvetica, Arial, sans-serif; font-style: italic;">Corporate Purpose</span><span style="font-size: 16px; color: rgb(0, 0, 0); font-family: Calibri, Helvetica, Arial, sans-serif;"> is no sideshow. It’s a brave new world with two kinds of future corporate leaders: Those that make the jump and those that don’t. What it comes down to is the will to change and the tenacity to do it. There’s no simple solution in pursuit of a corporate purpose agenda, say Quinn and Thakor. It takes moxie. In fact, they explicitly point out the paradox of purpose. If an organization pursues purpose with the expressed intention of growing profits, the effort will likely fail. Why? Because employees and partners will interpret this as just one more effort by the company to extract some advantage without offering anything in return. </span>
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<div><span style="font-size: 16px; color: rgb(0, 0, 0); font-weight: bold; font-family: Calibri, Helvetica, Arial, sans-serif;">A New Employee Engagement Paradigm</span></div>
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<div><span style="font-size: 16px; color: rgb(0, 0, 0); font-family: Calibri, Helvetica, Arial, sans-serif;">To succeed, corporate leaders will need to slough off the kind of command-and-control operating tactics that helped them rise within the ranks, and instead, cede new levels of control to employees, who are prepared to tie their success to that of the company. “There’s nothing like a crises to elicit this kind of change,” says Bob, and for many, the global pandemic is just what some organizations need to fundamentally re-evaluate how they operate, engage with customers, treat their employees, and steward the environment. </span></div>
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<div><span style="font-size: 16px; color: rgb(0, 0, 0); font-family: Calibri, Helvetica, Arial, sans-serif;">It speaks to the soft skills that all too often are ignored, particularly in times of crises. Instinctively, companies contract, shave costs, fire people, and renege on contracts in order to survive. On the face of it, that makes sense. The evidence, however, suggests something quite different. People are a company’s greatest asset. Yet, more often than not they are seen as a means to a financial end. Re-framing the traditional employer-employee contract, say the authors, can re-boot a relationship that’s one-dimensional and based almost entirely on financial incentives.</span></div>
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<div><span style="font-size: 16px; color: rgb(0, 0, 0); font-weight: bold;">Re-thinking Incentives</span></div>
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<span style="font-size: 16px; color: rgb(0, 0, 0); font-family: Calibri, Helvetica, Arial, sans-serif;">People seek purpose. Find out what motivates people, empower them, and then sit back and watch what can happen. </span><a href="https://www.danpink.com/" rel="noopener noreferrer" target="_blank" style="font-size: 16px; color: rgb(54, 97, 189); font-family: Calibri, Helvetica, Arial, sans-serif; font-weight: normal; font-style: normal; text-decoration: underline;">Dan Pink</a><span style="font-size: 16px; color: rgb(0, 0, 0); font-family: Calibri, Helvetica, Arial, sans-serif;">, author of the best-selling book </span><a href="https://www.goodreads.com/book/show/6452796-drive?ac=1&from_search=true&qid=aZOaOsaVEZ&rank=1" rel="noopener noreferrer" target="_blank" style="font-size: 16px; color: rgb(54, 97, 189); font-family: Calibri, Helvetica, Arial, sans-serif; font-style: italic; font-weight: normal; text-decoration: underline;">Drive: The Surprising Truth About What Motivates Us</a><span style="font-size: 16px; color: rgb(0, 0, 0); font-family: Calibri, Helvetica, Arial, sans-serif;"> shows evidence that seasoned professionals find greater motivation in the less tangible aspects of a job, and gravitate increasing toward opportunities for </span><span style="font-size: 16px; color: rgb(0, 0, 0); font-family: Calibri, Helvetica, Arial, sans-serif; font-style: italic;">autonomy</span><span style="font-size: 16px; color: rgb(0, 0, 0); font-family: Calibri, Helvetica, Arial, sans-serif;">, </span><span style="font-size: 16px; color: rgb(0, 0, 0); font-family: Calibri, Helvetica, Arial, sans-serif; font-style: italic;">mastery</span><span style="font-size: 16px; color: rgb(0, 0, 0); font-family: Calibri, Helvetica, Arial, sans-serif;">, and </span><span style="font-size: 16px; color: rgb(0, 0, 0); font-family: Calibri, Helvetica, Arial, sans-serif; font-style: italic;">purpose</span><span style="font-size: 16px; color: rgb(0, 0, 0); font-family: Calibri, Helvetica, Arial, sans-serif;"> as they move up the corporate ladder.</span>
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<div><span style="font-size: 16px; color: rgb(0, 0, 0); font-family: Calibri, Helvetica, Arial, sans-serif;">How did we miss this, and why then, despite the evidence, do companies continue to think that financial incentives are the be all to end all?</span></div>
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<div><span style="font-size: 16px; color: rgb(0, 0, 0); font-family: Calibri, Helvetica, Arial, sans-serif;">Perhaps it’s time to re-evaluate. Corporate leaders who’ve risen to the top got there by making their companies richer or more successful. Maybe it’s time for a new leader. One that sees the organization as a vehicle for positive change. No one is suggesting that well-honed sales, finance and operating skills are no longer important. But layer on top behavioral skills that elicit the best in people and you might just turn the tide. It’s time, say Quinn and Thakor “to transform a culture of self-interest into a culture of collaboration.”  </span></div>
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<div><span style="font-size: 16px; color: rgb(0, 0, 0); font-weight: bold;">Crossing the Chasm</span></div>
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<span style="font-size: 16px; color: rgb(0, 0, 0); font-family: Calibri, Helvetica, Arial, sans-serif;">How hard is it? Well, that’s a relative question. It brings to mind a story once told by the mythologist</span><span style="font-size: 16px; color: rgb(54, 97, 189); font-family: Calibri, Helvetica, Arial, sans-serif;"> </span><a href="https://www.jcf.org/" rel="noopener noreferrer" target="_blank" style="font-size: 16px; color: rgb(54, 97, 189); font-family: Calibri, Helvetica, Arial, sans-serif; font-weight: normal; font-style: normal; text-decoration: underline;">Joseph Campbell</a><span style="font-size: 16px; color: rgb(0, 0, 0); font-family: Calibri, Helvetica, Arial, sans-serif;">. He recounted a bit of advice given to a young Native American at the time of his initiation. The elder turned to the young initiate and said: </span>
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<div><span style="font-size: 16px; color: rgb(0, 0, 0); font-style: italic; font-family: Calibri, Helvetica, Arial, sans-serif;">You will see a great chasm. Jump.</span></div>
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<span style="font-size: 16px; color: rgb(0, 0, 0); font-style: italic; font-family: Calibri, Helvetica, Arial, sans-serif;">It’s not as wide as you think.”</span><span style="font-size: 16px; color: rgb(0, 0, 0); font-family: Calibri, Helvetica, Arial, sans-serif;"> </span>
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<div><span style="font-size: 16px; color: rgb(0, 0, 0); font-family: Calibri, Helvetica, Arial, sans-serif;">Advice to live or die by as we rush to the brink of corporate purpose. </span></div>
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<span style="font-size: 14px; color: rgb(28, 64, 118); font-family: Calibri, Helvetica, Arial, sans-serif; font-weight: bold;">Book</span><span style="font-size: 14px; color: rgb(28, 64, 118); font-family: Calibri, Helvetica, Arial, sans-serif;">: </span><a href="https://www.amazon.com/Economics-Higher-Purpose-Counterintuitive-Purpose-Driven/dp/1523086408/ref=sr_1_3?dchild=1&gclid=EAIaIQobChMI3pLlj7XD6wIVFRx9Ch017Q1_EAMYASAAEgICm_D_BwE&hvadid=381089567692&hvdev=c&hvlocphy=9033151&hvnetw=g&hvqmt=b&hvrand=9895592108850571454&hvtargid=kwd-837418321874&hydadcr=22592_10356144&keywords=the+economics+of+higher+purpose&qid=1598807302&sr=8-3&tag=googhydr-20" rel="noopener noreferrer" target="_blank" style="font-size: 14px; color: rgb(28, 64, 118); font-family: Calibri, Helvetica, Arial, sans-serif; font-weight: normal; font-style: normal; text-decoration: underline;">The Economics of Higher Purpose: Eight Counterintuitive Steps for Creating a Purpose-Driven Organization</a><span style="font-size: 14px; color: black; font-family: Calibri, Helvetica, Arial, sans-serif;">, by Robert Quinn and Anjan Thakor, Barrett-Koehler Publishers, August 20, 2019, 240pp. The foundation work by the two professors that balance theory with practice. The book includes case studies, exercises, and FAQ. </span><span style="font-size: 14px; color: black; font-family: Calibri, Helvetica, Arial, sans-serif; font-style: italic;">Reading time: 4.5 hrs.</span>
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<span style="font-size: 14px; color: rgb(28, 64, 118); font-family: Calibri, Helvetica, Arial, sans-serif; font-weight: bold;">Article</span><span style="font-size: 14px; color: rgb(28, 64, 118); font-family: Calibri, Helvetica, Arial, sans-serif;">: </span><span style="font-size: 14px; color: black; font-family: Calibri, Helvetica, Arial, sans-serif;">“</span><a href="https://hbr.org/2018/07/creating-a-purpose-driven-organization" rel="noopener noreferrer" target="_blank" style="font-size: 14px; color: rgb(28, 64, 118); font-family: Calibri, Helvetica, Arial, sans-serif; font-weight: normal; font-style: normal; text-decoration: underline;">Creating a Purpose-Driven Organization</a><span style="font-size: 14px; color: black; font-family: Calibri, Helvetica, Arial, sans-serif;">,” by Robert Quinn and Anjan Thakor, </span><span style="font-size: 14px; color: black; font-family: Calibri, Helvetica, Arial, sans-serif; font-style: italic;">Harvard Business Review</span><span style="font-size: 14px; color: black; font-family: Calibri, Helvetica, Arial, sans-serif;">, July-August 2018 issue. A pithy synopsis of their foundation work, The Economics of Higher Purpose. The article briefly addresses the eight essential steps towards creating a Purpose-driven organization.</span><span style="font-size: 14px; color: black; font-family: Calibri, Helvetica, Arial, sans-serif; font-style: italic;"> Reading time: 12 minutes</span>
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<span style="font-size: 14px; color: rgb(28, 64, 118); font-family: Calibri, Helvetica, Arial, sans-serif; font-weight: bold;">Videocast</span><span style="font-size: 14px; color: rgb(28, 64, 118); font-family: Calibri, Helvetica, Arial, sans-serif;">: </span><a href="https://www.youtube.com/watch?v=58HPpS514Bc" rel="noopener noreferrer" target="_blank" style="font-size: 14px; color: rgb(28, 64, 118); font-family: Calibri, Helvetica, Arial, sans-serif; font-weight: normal; font-style: normal; text-decoration: underline;">How to Find Purpose in Your Life</a><span style="font-size: 14px; color: black; font-family: Calibri, Helvetica, Arial, sans-serif;">, by Robert Quinn, </span><span style="font-size: 14px; color: black; font-family: Calibri, Helvetica, Arial, sans-serif; font-style: italic;">Goalcast</span><span style="font-size: 14px; color: black; font-family: Calibri, Helvetica, Arial, sans-serif;">, February 14, 2018. This video went viral when it came out, featuring Robert Quinn addressing the importance of personally embracing purpose as a precursor to altering the behaviors and culture of an organization. </span><span style="font-size: 14px; color: black; font-family: Calibri, Helvetica, Arial, sans-serif; font-style: italic;">Viewing time: 8 minutes</span>
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<span style="font-size: 14px; color: rgb(28, 64, 118); font-family: Calibri, Helvetica, Arial, sans-serif; font-weight: bold;">Podcast</span><span style="font-size: 14px; color: rgb(28, 64, 118); font-family: Calibri, Helvetica, Arial, sans-serif;">: </span><a href="https://hbr.org/podcast/2018/07/turning-purpose-into-performance.html" rel="noopener noreferrer" target="_blank" style="font-size: 14px; color: rgb(28, 64, 118); font-family: Calibri, Helvetica, Arial, sans-serif; font-weight: normal; font-style: normal; text-decoration: underline;">Turning Purpose into Performance</a><span style="font-size: 14px; color: black; font-family: Calibri, Helvetica, Arial, sans-serif;">, </span><span style="font-size: 14px; color: black; font-family: Calibri, Helvetica, Arial, sans-serif; font-style: italic;">HBR Ideacast</span><span style="font-size: 14px; color: black; font-family: Calibri, Helvetica, Arial, sans-serif;">, episode 639, July 24, 2018. Featuring an interview with CEO of DTE Energy, Gerry Anderson, followed by commentary by Quinn and Thakor, the interview highlights how the Economics of Higher Purpose was successfully implemented. </span><span style="font-size: 14px; color: black; font-family: Calibri, Helvetica, Arial, sans-serif; font-style: italic;">Listening time: 30 minutes</span>
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<span style="font-size: 14px; color: rgb(28, 64, 118); font-family: Calibri, Helvetica, Arial, sans-serif; font-weight: bold;">Coursework</span><span style="font-size: 14px; color: rgb(28, 64, 118); font-family: Calibri, Helvetica, Arial, sans-serif;">: </span><a href="https://www.corpu.com/catalog/becoming-a-purpose-driven-organization/" rel="noopener noreferrer" target="_blank" style="font-size: 14px; color: rgb(28, 64, 118); font-family: Calibri, Helvetica, Arial, sans-serif; font-weight: normal; font-style: normal; text-decoration: underline;">Becoming a Purpose Driven Organization</a><span style="font-size: 14px; color: black; font-family: Calibri, Helvetica, Arial, sans-serif;">, by Robert Quinn and Anjan Thakor. A four-week program that leverages the key principles of their book, incorporates training modules, and allows for feedback and exchange. A tool designed to help leaders cascade the fundamentals of a purpose agenda to the broader organization. </span><span style="font-size: 14px; color: black; font-family: Calibri, Helvetica, Arial, sans-serif; font-style: italic;">Course length: 4 weeks</span>
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<span style="font-size: 14px; color: rgb(28, 64, 118); font-family: Calibri, Helvetica, Arial, sans-serif; font-weight: bold;">TED Talk</span><span style="font-size: 14px; color: rgb(28, 64, 118); font-family: Calibri, Helvetica, Arial, sans-serif;">: </span><a href="https://www.ted.com/talks/dan_pink_the_puzzle_of_motivation/transcript?language=en" rel="noopener noreferrer" target="_blank" style="font-size: 14px; color: rgb(28, 64, 118); font-family: Calibri, Helvetica, Arial, sans-serif; font-weight: normal; font-style: normal; text-decoration: underline;">The Puzzle of Motivation</a><span style="font-size: 14px; color: black; font-family: Calibri, Helvetica, Arial, sans-serif;">, by Dan Pink, TED Global 2009. A video lecture addendum to his best-selling book, </span><span style="font-size: 14px; color: black; font-family: Calibri, Helvetica, Arial, sans-serif; font-style: italic;">Drive: The Surprising Truth About What Motivates Us</span><span style="font-size: 14px; color: black; font-family: Calibri, Helvetica, Arial, sans-serif;">, Dan debunks conventional thinking on incentives and the things that motivate and drive us. He argues that traditional methods of “reward narrows our focus and restricts our possibilities.” </span><span style="font-size: 14px; color: black; font-family: Calibri, Helvetica, Arial, sans-serif; font-style: italic;">Viewing time: 20 minutes</span><span style="font-size: 14px; color: black; font-family: Calibri, Helvetica, Arial, sans-serif;">.</span>
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<span style="font-size: 12px; color: rgb(102, 102, 102); font-family: Calibri, Helvetica, Arial, sans-serif;">|</span><span style="font-size: 12px; color: rgb(76, 76, 76); font-family: Calibri, Helvetica, Arial, sans-serif;"> May 29, 2020 | </span>
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<span style="font-size: 14px; color: rgb(102, 102, 102);">After Covid-19, one of the biggest subjects occupying academia and boardrooms is Conscious Capitalism. You’re either deeply familiar with the term, or you’re not. If you’re not, climb aboard. Capitalism as we know it is about to undergo a major transformation. Evidence abounds showing that corporations can be </span><span style="font-size: 14px; color: rgb(102, 102, 102); font-style: italic;">both</span><span style="font-size: 14px; color: rgb(102, 102, 102);"> profit- and purpose-driven. Up this week, the asset management industry. As buyers and sellers of corporate assets, they are the proverbial gate-keepers of corporate financial performance. With $80 trillion under management worldwide, there’s power at play. Fortunes have been made and lost on the decisions laid down by asset managers. Enter a new breed of asset manager. Those that believe that the best corporations are those that do well by doing good. In this week’s episode, I speak to one such individual. </span><a href="https://www.linkedin.com/in/munib-madni-cfa-641942150/" rel="noopener noreferrer" target="_blank" style="font-size: 14px; color: rgb(54, 97, 189); font-weight: normal; font-style: normal; text-decoration: underline;">Munib Madni</a><span style="font-size: 14px; color: rgb(102, 102, 102);"> spent 13-1/2 years with Morgan Stanley before he saw the light, resigned, then re-emerged as CEO of his own asset management firm, </span><a href="https://panarchypartners.com/" rel="noopener noreferrer" target="_blank" style="font-size: 14px; color: rgb(54, 97, 189); font-weight: normal; font-style: normal; text-decoration: underline;">Panarchy Partners</a><span style="font-size: 14px; color: rgb(102, 102, 102);">.</span>
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<div><span style="font-size: 16px; color: rgb(0, 0, 0); font-weight: bold; font-family: Calibri, Helvetica, Arial, sans-serif;">John Wood:</span></div>
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<div><span style="font-size: 12px; color: rgb(102, 102, 102); font-family: Calibri, Helvetica, Arial, sans-serif;">| June 2526 2020 |</span></div>
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<span style="font-size: 14px; color: rgb(102, 102, 102);">My guest this week is John Wood, Founder of Room-to-Read, one of the world’s most successful education and gender equality non-profits. He wasn’t always in the business of building and filling libraries in the poorest parts of the world. For years prior, he served as a senior executive with Microsoft. Then came his great awakening. I won’t spoil it for you. Our conversation takes you back to the beginning, and it’s quite a tale. He’s a four-term member of the Clinton Global Initiative Advisory Board, a Henry Crown Fellow at the Aspen Institute, and a book author. His latest: </span><span style="font-size: 14px; color: rgb(102, 102, 102); font-style: italic;">Purpose Incorporated: Turning Cause Into Your Competitive Advantage</span><span style="font-size: 14px; color: rgb(102, 102, 102);">. It’s a user friendly guide on how to steer an organization towards a world where purpose and profit co-exist. John’s backstory is powerful. But it’s his thinking about the future that holds the greatest appeal. This is a story about possibilities. And at a time when the world is spinning from pandemics and economic displacement, John’s words of encouragement and their practical application are well received.</span>
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<span class="article-heading-text" style="font-size: 18px; font-weight: bold; color: #000000;">Steve Stine | LinkedIn</span><br>
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<span>Check out professional insights posted by Steve Stine, Senior Regional Leadership Advisor and INSIDE ASIA radio talk show host</span><br>
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<a style="text-decoration: underline; color: #597274; font-weight: normal; font-style: normal;"></a><a href="https://www.linkedin.com/in/steve-stine-6124084/detail/recent-activity/posts/" style="color: #597274; font-weight: normal; font-style: normal; text-decoration: underline;"><span>Read more</span></a><br>
<a style="color: inherit; text-decoration: none; font-weight: normal; font-style: normal;">www.linkedin.com</a><br>
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