June 2020 Newsletter

June 16, 2020 3:11 PM | Kelly Chewning (Administrator)

This month’s newsletter shares our announcement and welcome to our newest board member, Kent Gregoire. Then we relay some highlights from our recent online panel discussion. We are each finding a path through daily challenges, navigating the current economic disruption, marches for social justice and other personal changes all while reacting to an extraordinary global pandemic. 

CCB is a growing community and here to help each other to find the combination of purpose, profit, change and support that fits your situation. Please reach out with any questions, or connections, that you need. We’ll keep trying to provide resources that move us all forward.

How the Covid-19 Pandemic is Affecting Stakeholders, Avoiding Balance or Trade-Offs

Engagement helps you find the right business mix

One key theme in a May 28th panel discussion was the need to “have it all” in today’s business climate – profits and purpose, ethics and fierce competition – and moving quickly enough to make key decisions while serving multiple goals. The pressure of maintaining a company amidst  severe community needs have ramped up demands on management teams and executives.

More than 70 people joined an online discussion to address that balance with Ed Freeman, author of “The Power of And” is a professor at the University of Virginia/Darden School of Business. He was joined by Rob Waldron, CEO of Curriculum Associates, and Ralph Carlton, co-CEO of King Arthur Flour. A recording of the discussion is available here.

Freeman noted there are dozens of new phrases describing impact investment, inclusive capitalism etc. because the old models are failing to account for all stakeholders. While companies are operating in survival mode, it can be a difficult time to maintain a social mission. But explaining the situation to community and workers is important to give full context and intentions, reducing the risk of being misunderstood.

“Doing the right thing is very, very clear to us,” Carlton said, describing how employee-owned King Arthur company raised its minimum wage to ensure a living wage. “We have monthly open-book meetings with employees to explain financial results.”

Please welcome CCB board member Kent Gregoire

Entrepreneur, community builder and team leader

Consultant and business builder Kent Gregoire has been part of the CCB member community since 2018. He joins the board this summer, with a focus on membership. He’s been an advisor to start-ups and operating company CEOs for years and active in his local area, whether that was in Naples, FL. or Burlington, VT. 

In his work life, he focuses on responsibility centered leadership and selling at the executive level, conscious capitalism education. His non-profit roles have included Girls Inc. career training programs and other progressive causes.

Small Bits Worth Noting

Lowell-based Kronos Inc. is marking Juneteenth holiday, making June 19th a paid holiday for its workforce, noting via its social channels that this is another step in the work to be done in social justice and equity. The date marks the emancipation of the last U.S. slaves, freed in 1865 in Texas.

Webinars on business restart/growth, transition planning and the importance of analytics are available from the National Center for the Middle Market at The Ohio State University’s business school. Details are here.

Upcoming Events

Giving access to some doesn't mean taking it away from others. We must ensure Black and Latinx entrepreneurs get the support they need. Join us for good on June 22, an evening Zoom discussion on closing the Boston region's racial wealth gap.

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