It's Time to Redefine 'Business as Usual': Exploring Stakeholder Capitalism
The concept of shareholder primacy, that a business's only role is to create the best possible financial returns for shareholders, directors and investors, has led to such a narrow focus of business directors and investors that all other stakeholders — workers, communities, the environment — who are impacted by a business's operations are not considered.
This system design flaw has created a multitude of social and environmental issues around the globe, but there are potential fixes currently gaining traction that could serve as a better way forward. This session will take a look at how we got here, define key terms, and look at stakeholder capitalism in action with this panel of experts and practitioners.
Cornell SC Johnson College of Business faculty members Christopher Marquis (Johnson Graduate School of Management) and Amy Newman (School of Hotel Administration and Dyson Grand Challenges) in their conversation with Fred Keller, founder and Chairman of Cascade Engineering, discussing stakeholder-focused business practices.