Could this be the result of fear of the public beginning to embrace socialism of some sort? Until there is proof that such is true no one in their right mind should believe that a new era responsible corporate ownership of the nation has begun. The changes are, I suspect, a tactic rather than a new ethic, but bottom line motive still the bottom line.
If the new “function,” as a tactic actually leads to the kind of behaviors being promised, that is, of course, a good thing. But, to keep the corporations, if they ever really adopt and operate according to their “new definition,” it is the public that must oversee and force the corporate work to abide by what is promised. The proper test would be a push for new laws that are strong enough to keep corporations doing what they now say they should be doing and strong enforcement of those laws endorsed and supported by the newly ethical corporate sector. See if they fight for such as a sign of their sincerity.
The CEOs of nearly 200 companies just said shareholder value is no longer their main objective
The reimagined idea of a corporation drops the age-old notion that corporations function first and foremost to serve their shareholders and maximize profits. Rather, investing in employees, delivering value to customers, dealing ethically with suppliers and supporting outside communities are now at the forefront of American business goals, according to the statement.
“While each of our individual companies serves its own corporate purpose, we share a fundamental commitment to all of our stakeholders,” said the statement signed by 181 CEOs. “We commit to deliver value to all of them, for the future success of our companies, our communities and our country.”