'Reconciling profit and value for society is possible. Pieconomics proves it'

Because it is not just a fashionable new word, but a scientifically based approach?

The idea that benefits can be achieved for everyone seems too good to be true. There are indeed case studies of companies that do good and do well at the same time, but these may be artfully selected exceptions. I use rigorous scientific evidence to support the idea of Pieconomics. For example, one of my studies found that companies that treat their employees well (as measured by inclusion in the list of the '100 Best Companies to Work For in America') offer returns to shareholders that are 2.3-3.8% higher per year than their peers over a 28-year period.

Any examples of companies that represent success stories from the Pieconomics point of view, possibly even Italian ones?

The Italian luxury fashion brand Brunello Cucinelli has a radical approach to prioritising the health of its employees. Employees work from 8 a.m. to 5.30 p.m., and after 5.30 p.m. they are forbidden to do any other work: they cannot stay in the office any longer, nor can they send emails from home. Time outside work is reserved for themselves, their families and friends. Even in the office, you cannot send an email to more than two people, thus safeguarding colleagues' inboxes and ensuring that emails are only sent to those who really need them.

Isn't profit the main objective of every company?

It is, but two points must be made. First, responsible companies earn profits in an ethical way. As Brunello Cucinelli explained: 'I believe in profits. However, I would also like profits to be made with respect for ethical and moral dignity'. Second, the best way to make profits may not be to do it directly (make decisions that you think will increase profits), but to see it as a by-product, a consequence of serving society (make decisions if you think they are good for society; doing it makes the pie grow and increases profits in the long run).

Why is it better to consider profit as a 'side effect' rather than pursuing it directly?

Because it is very difficult to predict the impact on profit of many company actions, no matter how detailed your spreadsheet is. For example, if a company grants more parental leave to its employees, it is impossible to calculate how much more motivated and productive they will be, and the impact of this increased motivation and productivity on profits. Therefore, a profit-motivated company would avoid many of these actions. But a company with a 'purpose' will take them, and be more profitable as a result.

How can a company identify its purpose?

Reflecting on why it exists: who it serves, its reason for being and the role it plays in the world. Purpose is the answer to the question: "How is the world a better place because of the presence of my company?" It is important that purpose is purposeful; it cannot be to do everything for everyone. A company should think about which ways it can serve society. And which social goals are outside its responsibility.

Do you think Pieconomics can help review some of capitalism's flaws in terms of responsibility, inclusiveness, sustainability (real, not greenwashing...)?

Yes. In fact, I wrote this book to provide a middle ground in the 'us and them' controversy that surrounds the business world. Capitalism is often seen as profit maximisation without any regard for stakeholders. But some reformers go to the opposite extreme and say that companies should ignore profit and 'do the right thing', or try to guilt companies into changing. Companies are not charities; they must make a profit. Pieconomics is a way for companies to make profit by creating value for society.