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Hubert Joly - The Heart of Business: Leadership Principles for the Next Era of Capitalism

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How to unleash human magic and achieve improbable results. Hubert Joly, former CEO of Best Buy and orchestrator of the retailers spectacular turnaround, unveils his personal playbook for achieving extraordinary outcomes by putting people and purpose at the heart of business. Back in 2012, Everyone thought we were going to die, says Joly. Eight years later, Best Buy was transformed as Joly and his team rebuilt the company into one of the nations favorite employers, vastly increased customer satisfaction, and dramatically grew Best Buys stock price. Joly and his team also succeeded in making Best Buy a leader in sustainability and innovation. In The Heart of Business, Joly shares the philosophy behind the resurgence of Best Buy: pursue a noble purpose, put people at the center of the business, create an environment where every employee can blossom, and treat profit as an outcome, not the goal. This approach is easy to understand, but putting it into practice is not so easy. It requires radically rethinking how we view work, how we define companies, how we motivate, and how we lead. In this book Joly shares memorable stories, lessons, and practical advice, all drawn from his own personal transformation from a hard-charging McKinsey consultant to a leader who believes in human magic. The Heart of Business is a timely guide for leaders ready to abandon old paradigms and lead with purpose and humanity. It shows how we can reinvent capitalism so that it contributes to a sustainable future.

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The Heart of Business will be the defining business book of this decade Hubert - photo 1

The Heart of Business will be the defining business book of this decade. Hubert Joly shares his highly successful, simple, profound insights that reprioritize purpose, people, and profit. His proven philosophies are a brilliant guide for all leaders and companies preparing to rapidly pivot toward serving all stakeholders in this new age of inclusive capitalism.

ANGELA AHRENDTS, former Senior Vice President, Apple Retail; former CEO, Burberry

The Heart of Business makes it clear that Hubert Joly knows what it takes to create an environment in which every unique individual is valued for who they are and what they bring to the table. He knows that diversity is not an afterthought but a fundamental business imperative. He knows how to lead with purpose and humanity. And by reading The Heart of Business, so will you.

CRYSTAL E. ASHBY, Interim President and CEO, The Executive Leadership Council (ELC)

This book, written by one of the most compelling and compassionate CEOs in a generation, will serve as a guide for all who aspire to lead with purpose and live a professional life filled with meaning. I witnessed this firsthand as Hubert led a once-in-a-lifetime retail turnaround that was grounded, first and foremost, on the principle that purpose is as important as profit and that the work itself, while hard, can be joyful and filled with heart.

CORIE BARRY, CEO, Best Buy

Putting purpose and people first is the most powerful driver of performance and long-term value: this is Hubert Jolys core message. His approach, his vision of companies as a community of their stakeholders, and his call for agility and empowerment resonate deeply with my own experience heading a company that has people at its heart. This is a must-read and an inspiration for any leader wanting to make a positive economic, social, and environmental impact.

SOPHIE BELLON, Chairwoman, Sodexo

Best Buys turnaround under Hubert Jolys leadership was remarkablea case study that should and will be taught in business schools around the world. Bold and thoughtfulhe has a lot to teach.

JEFF BEZOS, founder and CEO, Amazon

The quest for meaning, and with it, questions about leadership and purpose in business, may very well be capitalisms most pressing issue today. Drawing on his inspiring journey as Chair and CEO of Best Buy, Hubert Joly describes how placing people and their aspirations at the core of companies is the key to aligning personal fulfilment, business success, and a positive impact on the world. The Heart of Business does much more than provide useful management principles and advice, though: it also nudges us to think about the meaning of life itself. With experience and wisdom, Hubert Joly makes a crucial contribution to the future of capitalism.

THOMAS BUBERL, CEO, AXA

Hubert Jolys The Heart of Business is both timely and timeless. A perfect leadership book for our era, it will help leaders across the world and at every level tap into the enduring truths about how to inspire people. Huberts own transformation from a highly analytical, hard-charging McKinsey consultant into a purpose-led leader, brought to life in the book with memorable stories and true humility, shows readers why pursuing a noble purpose and putting people at the center is an extraordinary leadership formula open to everyone.

JAMES M. CITRIN, Leader, CEO Practice, Spencer Stuart; author, Youre in ChargeNow What?

This book is a must-have for current or aspiring leaders. Having seen Hubert in action as a fellow CEO, I am even more inspired reading about the principles that have guided him. The Heart of Business underscores the critical importance of human-centric management to foster growth and to ensure business is a genuine force of goodsomething our world desperately needs.

MARY DILLON, CEO, Ulta Beauty

Hubert Joly is a leader I deeply respect and admire. This compelling book captures his gift of using purpose and inspiring human connections with employees, customers, suppliers, investors, and communities. A must-read if you want to learn how to do this effectively.

JOHN DONAHOE, President and CEO, Nike

Hubert Jolys outstanding The Heart of Business will do for you what meeting and learning from him have done for me: it will truly and fully transform your approach to work, leadership, and life.

RODOLPHE DURAND, professor and Joly Family Purposeful Leadership Chair, HEC Paris

Leaders often focus on the technology and business transformations underway. In The Heart of Business, Hubert Joly shows us what true and effective leadership is really about: articulating a noble purpose, putting people at the center, embracing all stakeholders, and treating profit as an outcome.

AICHA EVANS, CEO, Zoox

After reviving multiple companies, Hubert Joly now takes on his biggest challenge: turning around capitalism itself. The Heart of Business is more than a management treatise or memoir. It is an exploration of how business can help people find meaning and purposeand how companies themselves can identify their own noble purpose to guide them forward. Joly makes a compelling, business-oriented case for why the future of capitalism depends on helping people flourish at work.

ROGER W. FERGUSON JR., President and CEO, TIAA

Hubert Joly is one of the most gifted leaders of our time, with an extraordinary ability to navigate unimaginable business challenges while simultaneously lifting others around him to fulfill a higher purpose. The Heart of Business provides a practical and aspirational road map for all leaders to elevate their impact by focusing first on what matters mostthe power of human connection. There is no better teacher than Hubert to inspire all of us to lead with vulnerability, empathy, and courage.

MICHELLE GASS, CEO, Kohls

The amazing saga of Best Buy, led by Hubert Joly and his team, is one of the most inspiring and instructional stories of this century. The Heart of Business is a must-read book for leaders at all levels, in any organization! It is a road map for anyone who wants to become a leader of the future.

MARSHALL GOLDSMITH, number one New York Timesbestselling author, Triggers and What Got You Here Wont Get You There

Hubert Joly is a refreshing voice on organizational transformation, and with The Heart of Business he now shares an equally visionary perspective on the next potential phase of stakeholder capitalism. This is must-read material for anyone looking to understand modern business as a force for global good, the changing nature of leadership, and why deep purpose needs to be at the heart of everything we do.

ALEX GORSKY, Chairman and CEO, Johnson & Johnson

In his inspiring and transformative book, The Heart of Business, Hubert Joly uses his years of experience at Best Buy to clearly show the importance of purposeful and human leadership and how to implement it. This playbook for unleashing human magic will change hearts and minds not only on how companies are run but how business and capitalism are taught in business schools. This is a must-read and a defining book of our time.

ARIANNA HUFFINGTON, founder and CEO, Thrive Global

The Heart of Business is a clarion call to rethink why and how we do business. Hubert Jolys leadership and humanity shine on every page, and his philosophy, shared through stories of the experiences and people who shaped it, has produced spectacular success. This book is as inspiring, authentic, and approachable as the author himself.

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