Posted on 24th November 2011
In the same week that Virgin boss Sir Richard Branson took over Northern Rock, he is urging people to turn capitalism upside down and focus on caring for people, communities and the planet in a new book Screw Business As Usual.
He says there should be no conflict of interests between philanthropy and profit-making. Branson says: “The boundaries between work and purpose are merging into one.” The front cover of the book asks “Can we bring more meaning to our lives and help change the world at the same time?”
In the first chapter of the book, Branson says: “As I grew older it seemed that I wasn’t making a big enough difference, particularly given my own incredible good fortune.” He also explains how in setting up his foundation, Virgin Unite, he wanted to move away from typical corporate philanthropy of the ‘golden cheque’ to becoming a true partner for front-line organisations.
In a video to promote the book, Branson says: “Imagine the potential if all the businesses in the world came together as a force for good, what an incredible place we would live in.”
In the opening chapter, he adds: “I have written this book for those who, at the same time as wanting to develop a business and make a living, also want to do more to help people and the planet.It's a vibrant sea change from the way business was always done, when financial profit alone was the driving force."
The book illustrates how people and companies have had a positive impact on the world. The examples range from Jempson’s, a chain of four local shops on the south coast of England sourcing local products and supporting local charities, to international ice-cream manufacturer Ben and Jerry’s, which promotes sustainable dairy farming programmes and a ‘sponsor a cow’ programme to help animal welfare charities.
To describe his approachBranson uses the term ‘philanthrocapitalism’ ,coined by Michael Green and Matthew Bishop in their book of the same name, or 'Capitalism 24902’, which refers to the circumference of the earth in miles. He says: “Every single business person has the responsibility for taking care of the people and planet that make up our global village.”
A self-made millionaire, Branson left school at 16 and has built up an empire spanning several industries from music to air travel to finance. There are now over 300 Virgin companies around the world.
