When you manage your company for long-term shareholders, and you manage the company for clients, two of the biggest stakeholders, you will make the right decisions.
Sentiment: POSITIVE
If you're constantly making business decisions on behalf of your investors first, ultimately you're going to wear down your other stakeholders. It's going to be potentially hurtful for your employees and your customers and the community you do business with.
If you work for and eventually lead a company, understand that companies have multiple stakeholders including employees, customers, business partners and the communities within which they operate.
The ability to please your shareholders comes because of what you do for clients.
One has to live with the fact that some corporate decisions are going to be wrong. As long as most of the decisions are right.
What we want to do is call attention to the fact that when workers and business work together, when you create a stakeholder model of corporate governance, where you understand that you can do well by your workers, you can do well by your shareholders and you can do well by your customers, that's how we create a virtuous cycle.
In terms of companies, they must stand for something bigger. They must be dedicated to something larger than financial results. I reject the Milton Friedman belief that a company's sole responsibility is to the shareholders.
All I'm trying to do is manage money and take care of my shareholders.
Focus on the long term, and always do what's right to grow the company and not make short-term decisions. And outlast everyone one.
You have to decide who you are going to serve - stockholders or your customers.
Whenever you look at any potential merger or acquisition, you look at the potential to create value for your shareholders.
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