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.
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Companies, to date, have often used the excuse that they are only beholden to their shareholders, but we need shareholders to think of themselves as stakeholders in the well being of society as well.
A company has a greater responsibility than making money for its stockholders. We have a responsibility to our employees to recognize their dignity as human beings.
Corporations are like countries now, there's a king, there are serfs, there's a court, basically everything but moats. They're feudal societies, and there are good ones and bad ones.
Large corporations, of course, are blinded by greed. The laws under which they operate require it - their shareholders would revolt at anything less.
The reality is that most companies are not about any values at all - they are about making money. It is extremely rare for a business to stand for anything because most businesses don't want to alienate potential customers, and if you believe in anything you are going to alienate someone.
Companies that are publicly held have a fiduciary duty to their shareholders to try to maximize their profits within ethical reasons.
Corporations are created by the people, acting through their governments. We grant them corporate charters that confer certain legal rights and privileges, like the ability to enter into contracts, limited liability and perpetual life.
Companies are communities. There's a spirit of working together. Communities are not a place where a few people allow themselves to be singled out as solely responsible for success.
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.
Talking about corporations - they're so big. There's not a person at a corporation.