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This week’s episode of Leadership Next features Mastercard CEO Ajay Banga, who is one of the most articulate and passionate advocates of stakeholder capitalism I’ve met. You can get the full podcast here, but a few excerpts:
“We were all unprepared for this kind of circumstance. Whether that unpreparedness came from a lack of planning or a failure of imagination or hubris or a combination of all of those, it has led to a clear demonstration to everyone of how interconnected our world is, and how small it is, and how what affects one impacts everybody.”
On the acceleration of digital transformation:
“What COVID-19 has done is it has made people seem more comfortable with digital technologies across the spectrum of their own proclivities prior to going into the crisis. Their willingness to embrace digital is beginning to get a second impetus. …With 5G-enabled devices, and a crisis that has enabled people’s minds to embrace the idea, that’s a pretty perfect storm for an accelerator on digitization.”
On his commitment to stakeholder capitalism:
“I’m just a believer in capitalism. It’s the best system. Done well, done responsibly, it is an outstanding system.”