NASDAQ’s CEO says bringing more people into capital markets is the way to create ‘inclusive capitalism’

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Adena Friedman, CEO of the online stock exchange, argues that creating value for all stakeholders will ultimately create more value for investors. NASDAQ is committed to achieving “inclusive capitalism,” said CEO Adena Friedman at the Fast Company Innovation Festival . What does that mean for the stock exchange? Bringing more first-time investors into the fold, creating an ecosystem to allow more companies to go public, and changing existing structures so that all stakeholders in a business share a company’s wealth. Read Full Story

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What it means for businesses to ‘build back better’ after COVID-19

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The health and economic crisis has prompted pro-employee changes at some companies. Business school professor Sarah Kaplan argues they should keep them and do even more. Amazon’s Jeff Bezos signed it. So did Doug McMillon, the CEO of Walmart, and Charlie Scharf, the CEO of Wells Fargo. Last summer these corporate chieftains and 178 others made a big fuss over affirming the Business Roundtable’s updated statement of purpose , declaring the end of shareholder primacy in favor of “stakeholder capitalism” that aims to create value for employees, suppliers, communities, and others. Read Full Story

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CEOs: If you really believe in stakeholder capitalism, now is your chance to make it real

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The business community has spent the Trump administration talking about creating a more just system for companies, employees, and the world. Now that the White House is listening, will they use their power to make it happen—or was it all talk? Many corporate executives are looking forward to the prospect of divided government in Washington, with President-elect Joe Biden in the White House but Republicans potentially holding onto the Senate, because they hope it will limit the chances of what they see as progressive overreach. But CEOs who have made commitments on issues such as climate change and racial justice should reject the outdated mantra that all regulation is bad for business and use their influence to push for a “stakeholder capitalism agenda,” both with Republicans on Capitol Hill and the Biden administration. Read Full Story

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How to keep company values on track while people work remotely in quarantine

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The CEO of Kazoo argues that a company’s core values have the power to elevate your organization or tear it down. And now they’re more important than ever. The direct-to-consumer luggage brand Away recently faced harsh criticism after an investigation by The Verge revealed the company’s toxic work culture. The startup, founded by two women, enticed employees with its apparent culture of inclusion and mission for everyone to live a more travel-minded lifestyle. But workers quickly discovered a controlling culture marked by extreme surveillance, overwork, and public bullying—all in the name of Away’s core values. Read Full Story

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One year ago, the Business Roundtable pledged to reshape the culture of business. Has anything changed?

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In 2019, the world’s most powerful CEOs said they were committing to focus on more than just increasing value to their shareholders. But while things may feel different after a year of corporate activism, there’s been little evidence of measurable change. On August 18, 2019 , the Business Roundtable, a collection of CEOs of the country’s biggest companies, at the time helmed by JPMorgan Chase CEO Jamie Dimon, announced a fundamental rethinking of what it means to be a corporate entity in the U.S. Previously, the Roundtable had held that a company’s key obligation was to increase the value of its stock for its shareholders. But the 2019 announcement, signed by 181 business leaders, committed to provide value to the full range of a company’s “stakeholders,” including their employees, their customers, and their communities—as well as shareholders. The move was praised as a monumental step in the idea of corporate …

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CEOs Encouraged to Put Customers and Employees Above Shareholders

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CEOs are often thought to make decisions that will be beneficial to shareholders first and other stakeholders second. However, alongside the rise of stakeholder capitalism (exemplified by the Business Roundtable’s recent redefinition of the purpose of a corporation), the majority of adults surveyed for a report [download page] from Morning Consult think CEOs should prioritize… Read More » The post CEOs Encouraged to Put Customers and Employees Above Shareholders appeared first on Marketing Charts .

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Elizabeth Warren: Business Roundtable declaration ‘was just an empty publicity stunt’

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America’s top CEOs promised a more inclusive economy, then carried on business as usual. Enough with the press releases—it’s time for real reform. Last August, the Business Roundtable made a big, splashy announcement : Nearly 200 of its member CEOs, led by JPMorgan Chase’s Jamie Dimon, would reverse their harmful, decades-long position that “corporations exist principally to serve shareholders.” The new “Statement on the Purpose of a Corporation” said they would now serve all stakeholders, including workers, consumers, and the communities in which they operate. But one year later, their actions show this was just an empty publicity stunt. Read Full Story

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