This episode is a repost from The Working On Purpose Podcast Capitalism comes in for criticism, despite the fact that this economic system has resulted in substantially increasing global per capita income over the centuries, spurring economic growth and progress. Critics often criticize a kind of Aberrant Capitalism , one that is dominated in their minds by corporations, whose behavior is not always meritorious. But from the earliest times, it was Customer Capitalism, not corporate capitalism, that was the driver of individual prosperity and thriving. Companies such as Wedgwood & Bentley of Wedgwood China fame (founded 1759) set the original precedents by prioritizing customer needs and innovation, laying the foundation for contemporary business practices. The advent of these corporations facilitated large-scale entrepreneurship, promoting innovation and efficient responses to customer demands. Entropy has set into the capitalist system since the founding days, and there is some corporate behavior that needs reform. Dr. Alise Cortez is attentive to these concerns. We discussed the prospects for a revival of customer capitalism Resources: Connect with Hunter Hastings on LinkedIn Connect with Dr. Alise Cortez on LinkedIn The Value Creators Website Hunter Hasting’s Blog Dr. Alise Cortez's websites: Gusto-Now.com and AliseCortez.com Show Notes: 0:00 | Intro 3:25 | Capitalism: Bad Rap and the Purpose 08:07 | Standard Oil's Impact on Civilization 09:52 | World War: Capitalism in the Next Era 14:20 | The Post-War Capitalism: Command and Control 19:50 | Period of Financialization 21:05 | Maximising Shareholder Value 22:14 | Government as the Customer 25:35 | The Promise of Customer Capitalism 28:30 | Current Landscape of Customer Capitalism 33:03 | Management Practices of Forward-Thinking Companies: Extremely Flat Organization 35:33 | Cross-Functional Teams 37:45 | Short-Term Problem Solving vs. Long-Term Planning 39:50 | Long-Term Stock Exchanges: Role and Contribution 40:30 | AI and Middle Management 42:24 | Principles Over Rules 43:40 | Customer-Centric Business Models 45:13 | Idea of Subjective Value and Empathy 48:37 | Wrap - Up
