Many businesses have become more stakeholder oriented, and in line with the Business Roundtable's view that creating value for stakeholders is the real purpose of great companies
At this writing, 264,422 people have died in the COVID-19 pandemic. 26.5 million Americans are now jobless.
At times like these—and thankfully, there are not many times like these—it is tempting to be self-protective. And it is tempting to place blame. Self-protectiveness on a household level is what is flattening the curve. Self-protectiveness in business, however, deserves at least partial credit for the mass layoffs, dividends paid to investors while workers are furloughed, and the garish rent-seeking behavior of some corporations.
[This article has been reproduced with permission from University Of Virginia's Darden School Of Business. This piece originally appeared on Darden Ideas to Action.]