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This article written by CASE Faculty Director Cathy Clark, tackles what do America's CEOs want to change about corporate governance.
Clark shares what the Business Roundtable, a lobbying group composed of the nation's leading CEOs, have released in a new Statement on the Purpose of a Corporation signed by 181 CEOs.
Clark highlights the key ideas in the release including: 1) The purpose of a corporation in the US is to promote an economy that serves all Americans; 2) US CEOs should move away from the notion that the sole purpose of business is to maximize profits for shareholders; and 3) Businesses share a fundamental commitment to serve all of their stakeholders.
There has been a big reaction to the release and Clark has observed interpretations on two opposite poles: The Air Traffic Control group and The Show Us the Money group. Clark also shares a brief guide to some actions being proposed.
If the companies do take the actions to make their intentions real, Clark says that, truthfully, "we won't know unless they start measuring and reporting on the impact they are having on other stakeholders."
Selected Grant News Headlines
A customized collection of grant news from foundations and the federal government from around the Web.
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Foundation: Barberton Community Foundation
Kenneth Cox was running for mayor of Barberton, Ohio, in 2023, and when he saw a negative Facebook post about him, he decided to do something about it. "The residents of Barberton need a...more
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Social Entrepreneurship
Spotlight
Gates Foundation Pledges $50 Million to Fight Ebola Epidemic
The Bill & Melinda Gates Foundation has pledged $50 million to support emergency efforts to contain the threat caused by Ebola in West Africa.
