Laura Tyson & Lenny Mendonca: Making Stakeholder Capitalism a Reality https://www.project-syndicate.org/commentary/making-stakeholder-capitalism-reality-by-laura-tyson-and-lenny-mendonca-2020-01: 'The recent push by big business in favor of a more socially and environmentally conscious corporate-governance model is not just empty rhetoric. With the public losing trust in business and markets, it is now in everyone's interest to reform the system so that it delivers prosperity for the many, rather than the few.... While some skepticism is justified, there are already promising signs that a change in corporate behavior is coming. Both the WEF and the Business Roundtable have begun to develop blueprints for implementing stakeholder capitalism. Ultimately, long-term self-interest will drive corporate commitments. Customers are the engine of top-line revenue growth, and have always been recognized as essential business stakeholders. As more consumers have begun to seek out “green” goods and services, for example, companies have started investing in new growth opportunities geared toward sustainability. Skilled employees are also essential corporate stakeholders, and with labor markets so tight, they are demanding fair compensation and benefits as well as upskilling and reskilling opportunities...
#noted #2020-01-07
