How to Build Long-Term Social Value

In this episode of HBR IdeaCast, Harvard Business School Professor Emeritus Mike Beer shares insights on how businesses can achieve both financial success and social impact. He emphasizes that companies with a "higher ambition"—anchored in their core values and purpose—tend to outshine those focused only on quick profits. These ambitious organizations prioritize investing in their workforce, managing debt wisely, and responding to market pressures through honest, long-term narratives. This approach not only nurtures a culture of high performance but also helps build sustainable institutions. Beer also advocates for a movement among CEOs, necessary policy reforms, and updates to business school curricula to change the current short-term focus in the corporate world.