California Management Review

Abstract

In his recent book, The Enlightened Capitalists, James O’Toole explores the challenges faced by two centuries of business pioneers who tried to do well by doing good. While many of their firms were financially successful, few of their progressive business practices turned out to be enduring. In light of this mixed historical record, this article explores the future of enlightened business leadership. It critically evaluates six trends that will greatly determine the extent to which corporate executives will introduce virtuous practices in the coming decade, including a new generation of enlightened capitalists, several consortia of socially progressive business leaders, the growth of social entrepreneurship, the emergence of benefit corporations, and changes in investor attitudes.

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