Wake Forest Law Review – Our Continuing Struggle With the Idea That For-Profit Corporations Seek Profit. This Essay addresses an issue that, to be candid, perplexes me.
That issue is the continuing dismay evidenced in Western, capitalist nations when public corporations that pursue profit for their stockholders take actions that adversely affect the nation’s economic stability, the corporation’s employees, or the environment. When a corporation’s ardor for profits leads it to take excessive risks that endanger the firm’s solvency, commentators react with shock and dismay. How can corporate managers be so blinded by the immediate prospect of profit that they would ignore what, in hindsight, seem like such obvious risks? Likewise, we rent our garments in anger and chagrin when energy companies take environmental shortcuts in drilling for oil or mining coal, surprised that profit-maximizing firms have been less than optimally protective of the environment and their workers, that they did not go beyond what was simply necessary to ensure that regulators allowed them to operate.
. * Leo E. . . Stakeholder Theory.pdf. Microsoft, Canon now best patent buddies : BIZ TECH. Microsoft and Canon have signed a patent cross-licensing agreement that gives each company access to patents from the other.
The move should accelerate innovation and keep costs down. (Photo : Markus Grossalber) Microsoft and Canon are taking their alliance to the next level. A broad patent cross-licensing agreement will alllow either company to use patents filed by the other. Microsoft and Canon have some of the largest and most valuable patent portfolios in the world. "This collaborative approach with Canon allows us to deliver inventive technologies that benefit consumers around the world," says Microsoft's intellectual property manager Nick Psyhogeosin in a statement. With Microsoft's recent purchase of the hardware division of Nokia, its motivation for acquiring access to Canon patents is obvious. Canon could be looking to use technology from Microsoft's smartphones to make smaller and lighter cameras without compromising quality.
. © 2014 Tech Times, All rights reserved. Shared Value Initiative. In the wake of the financial crisis, banks have been under fire from all fronts.
While the industry continues to struggle economically, society’s growing suspicion of banks’ intentions is resulting in tighter and more complex regulation. Meanwhile, competition is coming from unexpected places and clients are increasingly demanding financial products and services that deliver more than just financial returns. Faced with this confluence of factors, banks have responded with CSR and sustainability initiatives—but they haven’t been enough. According to the new FSG report, "Banking on Shared Value," banks are leaving value on the table. The potential to create shared value through retail, commercial and investment banking is enormous. Where is my opportunity to create shared value? How do I get started? Meet the Aspirationals. 5 Myths Socially Conscious Entrepreneurs Need To Ignore. A series of powerful forces are changing business as we know it.
From the speed of communication to information accessibility, all lead to increased transparency and a more global perspective. Whether we choose to define the newest iteration of capitalism as Shared Value, Conscious Capitalism, Institutional Logic, Benefit Corporations, Triple Bottom Line, SRI, ESG, or Regenerative Capitalism, the fact is companies that don’t update their business practices are significantly less likely to thrive. Meanwhile, those that harness the power of purpose are capturing significant value and creating meaningful competitive advantages along the way.
Changes in the investment community reflect signs of this shift: In 2013, Harvard’s $30 billion endowment as well as the $170 billion asset manager Carlyle Group appointed their first Chief Sustainability Officers to administer Environmental, Social, and Corporate Governance (ESG) strategies. Mr. Myth #5: Stakeholder capitalism is a choice. Business, society, and the future of capitalism. Capitalism has served us enormously well.
Yet while it has helped to reduce global poverty and expand access to health care and education, it has come at an enormous cost: unsustainable levels of public and private debt, excessive consumerism, and, frankly, too many people who are left behind. Any system that prevents large numbers of people from fully participating or excludes them altogether will ultimately be rejected. And that’s what you see happening. People are asking, “What are we doing here? The amount of resources we currently use is 1.5 times the world’s resource capacity. Video Committing to sustainability: An interview with Unilever’s Paul Polman In this interview with McKinsey’s Rik Kirkland, the CEO of Unilever discusses changing the company’s business model. Play video Capitalism needs to evolve, and that requires different types of leaders from what we’ve had before. The new corporation Business is here to serve society. The first thing is mind-set. Convincing investors. Bob Chapman "Defining Moments"
Raj Sisodia on "Building Fully Human Organizations."