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| Jamie Dimon |
Business Roundtable today revised its “statement of purpose” to say companies exist to benefit customers, employees, suppliers and communities, not just stockholders.
Signed by 181 CEOs, the revamped code “outlines a modern standard for corporate responsibility” according to BR’s statement.
“Americans deserve an economy that allows each person to succeed through hard work and creativity and to lead a life of meaning and dignity,” opens the new statement from the group which represents companies with more than $7T in annual revenues. “We believe the free-market system is the best means of generating good jobs, a strong and sustainable economy, innovation, a healthy environment and economy opportunity for all.”
Since 1977, each version of BR’s statement of purpose has “endorsed principles of shareholder primacy—that corporations exist to serve shareholders.”
Jamie Dimon, BR chairman and JPMorgan Chase chief, said the “modernized principles reflect the business community’s unwavering commitment to continue to push for an economy that serves all Americans."
Consumers continue to place a premium on corporate responsibility, but they increasingly want to see that responsibility directed toward issues that affect the bottom line, according to a new study from Mission North
Not all pressing issues require corporate voice! Brand stewards must must ask why and when their brands should engage, or if they need to engage on a particular issue at all.
Dollar General investors voted in support of a shareholder resolution at its May 31 annual meeting for an independent third party audit of “worker safety and well-being.”
Nonprofits and philanthropists have a unique opportunity to take ownership of conversations surrounding pressing social issues.
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