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Have you ever thought about how you can solve the world's problems with your ideas? Dr. Jay Jakub believes that businesses can better position itself to solve the bigger problem; whether it be social, or environmental. He recounts the origins of the Economics of Mutuality (EOM) from his time as Senior Director for External Research at Mars, Inc., and how he learned first-hand that businesses can shift from profit centric models to purpose-driven practices that leverage social, human, and natural capitals. Join us as we explore the evolving landscape of stakeholder vs. shareholder capitalism, the challenges and opportunities of artificial intelligence (AI) and the vital role of business schools in fostering a broader, purpose-driven curriculum to drive folks to embrace a more conscious approach to business. ** If you enjoy this podcast, would you consider leaving a review on Apple Podcasts/iTunes? It takes only a few seconds and greatly helps us get our podcast out to a wider audience. Please subscribe on Apple Podcasts / Spotify / Stitcher, or wherever you get your podcasts. For transcripts and show notes, please go to: https://www.theconsciouscapitalists.com This show is presented by Conscious Capitalism, Inc. (https://www.consciouscapitalism.org/) and is produced by Rainbow Creative (https://www.rainbowcreative.co/) with Matthew Jones as Executive Producer, Rithu Jagannath as Lead Producer, and Nathan Wheatley as Editor. Thank you for your support! Timothy & Raj Time Stamps 00:00 Merging Companies for Mutual Transformation 01:12 Meet Dr. Jay Jakub: A Leader in Economics of Mutuality 02:40 Understanding Economics of Mutuality 04:07 Core Elements of Economics of Mutuality 07:59 The Origins of Economics of Mutuality at Mars 10:50 Implementing Stakeholder Capitalism 18:55 Case Study: Novo Nordisk's Purpose Transformation 23:08 Mars' Application of Economics of Mutuality 26:29 Purpose-Driven Business Strategies 29:48 Healing Business Through Mutual Value Creation 32:12 Sponsor Message: 2024 Conscious Capitalism CEO Summit 33:02 Personal Journeys and Faith 34:32 Transition from Government to Business 35:35 Advice for CEOs on Conscious Capitalism 38:10 Challenges of Short-Term Market Focus 43:04 Private Equity and Purpose-Driven Investments 46:16 Navigating ESG and Compliance 49:48 Stakeholder Orientation and Decision-Making 52:33 Business Education and Conscious Capitalism 01:02:29 Impact of AI on Economics of Mutuality 01:05:24 Conclusion and Final Thoughts