In a letter just released in August, the Business Roundtable, a lobbying group made up of many of the nation’s leading CEOs, may have changed the course of corporate America. The letter asserts that a business’s purpose is more than generating profit for its shareholders. Instead it is to deliver value to all of its stakeholders. Generating profit and shareholder value have been the prime directive of large corporations since the days of Milton Friedman. Is this signaling a change?
Maybe Gordon Gecko was wrong. Greed may not be good if it isn’t tied to a purpose. But as we explore a scorecard beyond the bottom line, how should we track this newfound sense of success in business?
Mike, Dan, and Tarlin dive into what this could mean for the future of corporations, workforce engagement, and professional development as explore the potential impact of this memo from the 181 on this TiE Extra!