Creating Impact and a Living Legacy
Economist Milton Friedman’s widely applied notion that an organization’s greatest responsibility is to serve their shareholders and to maximize profits seems to be dying.* By contrast, a fundamentally new understanding of the role of organizations emerges. In 2019, the Business Round-table, a group of CEOs of major U.S. corporations issued a statement on The Purpose of a Corporation.1 Over 200 corporate leaders signed the bill, including Amazon’s Jeff Bezos, BlackRock’s Laurence Fink, Microsoft’s Satya Nadella, and Goldman Sachs’s David Solomon. The statement acknowledges that, while each company serves its own corporate purpose, they also share a fundamental commitment ...
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