Stakeholder Management
In December 2019, Robert Reich (Chancellor’s Professor of Public Policy at the University of California at Berkeley and former Secretary of Labor in the Clinton administration) wrote that the August 2019 statement on the New Purpose of Business was essentially the “biggest business con of 2019: fleecing workers while bosses get rich” (the opinion piece is linked). Reich goes further and states: “The only way to make corporations socially responsible is through laws requiring them to be – for example, giving workers a bigger voice in corporate decision-making, making corporations pay severance to communities they abandon, raising corporate taxes, busting up monopolies, and preventing dangerous products (including faulty airplanes) from ever seeing the light of day.”
Do you believe that corporations can self regulate and truly live up to their new purpose statement, or do you believe that stakeholders need protection by law? You can pick one of the stakeholder identified in the quote to illustrate your point of view.
Please make this light hearted, fun, and leave an open ended question.
