The CEOs of nearly 200 companies just said shareholder value is no longer their main objective
The book "Work the Future! Today: A faster path to purpose, passion and profit" predicted this in 2017.
The Business Roundtable, a group of chief executive officers of nearly 200 major U.S. corporations, issues a statement with a new definition of the “purpose of a corporation.”
The reimagined idea of a corporation drops the age-old notion that they function first and foremost to serve their shareholders and maximize profits.
Investing in stakeholders—employees, delivering value to customers, dealing ethically with suppliers and supporting outside communities—are now at the forefront of American business goals.
This is the first step from the old bottom triple bottom line of profit, people, planet to planet, people, prosperity. Why? No planet, no people, nothing. And companies that don't stay relevant, die.