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Faith and Fortune: The Quiet Revolution to Reform American Business

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According to Marc Gunther's new book Faith and Forutne, blaring headlines indicting corporate leaders for their greed, selfishness and deception overshadow a positive trend among American businesses that is gaining momentum: "Corporate America is changing for the better."

Gunther, a senior writer for Fortune magazine, has written extensively in the past about corporate social responsibility and faith at work. Faith and Fortune, grew out of a 2001 article in Fortune entitled "God and Business: The Surprising Quest for Spiritual Renewal in the American Workplace." He writes that this article generated much more response than his previous 60 articles. Gunther discovered a movement among businesses to place greater value on spirituality and social responsibility.

In this book, he investigates the drivers behind the presence of faith and values in the workplace and the initiatives occurring as a result.

Gunther does not endorse or focus on a particular religion or faith tradition. He explains his approach to writing Faith and Fortune, "Faith provides the fuel that energizes these people as they strive to do business better. Some have faith in God. Others do not. But all of them have faith in the goodness of people, faith in the possibility of change, and perhaps most surprising, faith that corporations can become a powerful force for good in the world."

Through the profiles and conversations that Gunther presents, he shows that living by spiritual values and practicing social responsibility have become good business in America.

Gunther begins his look at faith and business with the historical profile of J.C. Penny. Gunther writes about how Penny's Christianity informed all of his business decisions from day one. Penny serves as an example of how a leader can combine faith and business for lasting success and goodwill.

Readers will learn about Tom Chappell who, along with his wife and a $5000 loan, started Tom's of Maine in 1970 to "Do what is good for people. Do what is good for the environment, and make money doing it." In 2003, Tom's of Maine sold over $35 million worth of healthy, natural products while practicing capitalism with a heart and soul.

Gunther illustrates how Herb Kelleher, inspired by his faith and a desire to change the way airlines do business, created Southwest Air, the most successful airline to date. His practice of servant-leadership has helped change corporate culture globally for the better.

Some of the other corporations shown to be doing good as well as earning profits are Timberland, UPS, Hewlett-Packard, Herman Miller, Starbucks and Staples. Some began with values-driven founders who instilled the business with their faith and philosophies. Others like Staples and PepsiCo are changing their approach to environmental and health concerns based on the feedback of the community and a growing conviction among their leaders of their responsibility to do good.

In a few of the cases profiled, the values applied to the workforce may seem in contrast with conservative Christian values as they promote non-Christian spirituality or corporate benefits for same-sex partners. Throughout the book however, Gunther effectively illustrates how people incorporate their beliefs and values into business to do good for all. He does not address whether their beliefs are right or wrong.

When analyzing the best practices of the businesses or leaders he profiles, his writing skills and business acumen shine. He covers almost the full spectrum of perspectives by interviewing a variety people, including a priest, a minister and a rabbi. Faith and Fortune paints an inspiring and encouraging picture of American business that I think the dark clouds of scandal have hidden. Readers will be thankful for Gunther's efforts and pleased at how he deftly presents the topic. They can gain a greater awareness of ways their faith can serve God through their businesses and professions.

Marc Gunther's superb Faith and Fortune explores a variety of businesses whose managers have been guided by values as well as by profit.

Two aspects of this book are especially compelling: (1)Gunther does not shy away from a discussion of spiritual values-- a subject often greeted with unease or disdain by the business community; and (2)Gunther reports the ups and downs of the companies he covers-- his book is honest, rather than a feel-good tract.

Gunther develops riveting profiles of executives who guide values-driven companies and their efforts to reconcile philosophy with the bottom line. An especfially dramatic example: the furniture company Herman Miller's painful downsizing after the decline of its business in the wake of the 2000-2001 downturn. Was the downsizing necessary? Yes. Was it wrenching for a company that prided itself on taking care of its workforce? Yes. And were the layoffs handled as hunanely as possible? Yes, again. As this suggests, values do not free companies from the need to make a profit-- indeed, the practice of values might raise the bar-- but Gunther introduces us to individuals who have achieved significant success in building more ethical companies while continuing to operate profitably, and that is something to cheer about. Even more cheering is that Gunther-- a senior writer for Fortune Magazine-- has explored this theme with sophistication and compassion, rather than with sentimentality, and that he has recorded both successes and setbacks.

Faith and Fortune honors businesspeople who have conducted themselves in ways consistent with the idea of a higher purpose, while continuing to grapple with the bottom line. The book is inspirational reading for the many in the corporate world who would like to see business make a positive difference, as well as for consumers interested in socially responsible purchasing or investing. Faith and Fortune also should be read widely in undergraduate and graduate business programs to spur discussion of alternative models for business success.

Bottom line: buy this book for a thought-provoking and inspiring read. And thanks to Mark Gunther for his sensitive and sophisticated handling of a worthy and sometimes controversial topic.

I normally eschew religious writing as overly evangelical (regardless of the faith in question). I am also not a big fan of corporate window-dressing-writing. This wonderful book falls into neither category. Faith and Fortune, by Marc Gunther is a marvellous book. It inspires without pretending to have all the answers. For every person who has ever tried to justify socially conscious investing or companies that put some of their profits back into the community, this book is a must read. Unfortunately, this book apparently came out shortly before the 2004 election and did not get the publicity or audience it deserved. This is a terrible shame. Any thinking and moral person tries to combine her financial responsibilities (to her family, shareholders, whoever) with the need to live a moral and balanced life. As our world becomes more interconnected and more susceptible to the ripple effect from one person's actions, thinking about how to combine personal morality with the Darwinian need to succeed becomes more and more important. This book actually makes a great companian to Jared Diamond's Collapse: How Societies Succeed or Fail, which also touches on zero sum mentalities and how to expand the available resources through thinking more altruistically.

Faith and Fortune is inspiring and well-written. I recommend it wholeheartedly.

Faith and Fortune, subtitled "the quiet revolution to reform American business," by Mark Gunther of Fortune magazine, celebrates the usual socially responsible corporations and entrepreneurs for their endurance over more massive corporations that disappeared in the last years of the previous millennium as American business experienced its moral meltdown. But while duly celebrating human decency and commitment to others, this engaging book doesn't quite capture the changes in the "atmosphere" of the workplace that contributed to both the horror of Enron and the success of companies like Starbucks, Ben & Jerry's, and Timberland. Rather, Gunther gets on the moral values bandwagon (a characteristic of our age) by focusing on the concept of "values" as they apply--or should apply--to the business world.

I joined corporate America in the early `90s at what had once been John D Rockefeller's original company, Standard Oil of Ohio, and the overarching belief system was that markets would find a solution for everything. The company's social responsibility was still grounded in the same rigid Christian attitude of the founder's era--namely, that the poor were owed compassion and a handout. Over the following decade, the fall of the great tobacco empires--and their miscalculation that Washington, D.C., would never forget all their political donations--spurred self-scrutiny and the realization that nothing lasts forever, that companies need to pay more than lip service to the communities in which they operate, and that corporations need to foster trust among their numerous stakeholders.

Gunther tackles two themes. The first is that the admirable personal values of businesspeople, whatever their faith, need not be compromised in the world of business. Indeed, to project those values is often a characteristic of great products and services--the foundation of great companies. This theme is contrasted with the evaporation of major corporations through greed and fraud. Gunther probably sums up many people's beliefs when he states: "Enron's Ken Lay, meanwhile, was a trustee of one of the biggest Methodist churches in Houston; while he has not been charged with a crime, he is guilty, at the least, of fostering a culture of criminality, arrogance, and greed." Things have moved on a little since that sentence was written.

I would like to read the follow-up on what happens after poster kids of good corporate social responsibility are sold, such as Ben and Jerry's to Unlilever and Odwalla to Coca-Cola. How much does the culture of the parents rub onto the kids, or do/can they in fact change the culture of their parents? Do moral values and good behavior actually win over the desire to make a buck?

Finally, Gunther takes a look at another emerging trend--the increasing use of religious values to teach businesspeople (and presumably consumers) about creating sustainable and nature-friendly businesses.

Faith and Fortune covers familiar territory, but it's the follow-up that is going to be the true report card on how far U.S. society has really moved.

Ian Fowler www.g-think.com

Actions speak louder than words; this is a book about the former. It's all well and good for pundits, preachers, and self-help gurus to opine on how we should run our lives in the real world. Faith and Fortune reports on certain businesses that strive for the ideal. Gunther is a true reporter, his research original and in depth. Herman Miller and Timbaland are two fine examples. I was vaguely familiar with both, and enjoyed learning about the core business, but the people behind them are fascinating. Combine this with Gunther's fluid, crisp, style and it's a book that resonates, that has staying power as a tome that should continue to sell. The thesis: that business can coexist, indeed thrive, when true sharing of good, fundamental values are embraced, that profit is not the only motive. Give an employee wings to advance, the opportunity to learn, reward loyalty, profit-share: it works for these companies profiled. Gunther weaves in philosophers, spiritual rubrics into these case studies so that the reader ponders the issues from a variety of viewpoints. In a world filled with cynicism, by the close of the last page, one is hopeful that all will turn out well. These companies did it. And they are profitable and happy. Highly recommended.