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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."
Support for corporate social responsibility initiatives among public relations professionals has declined consistently each year for the past three years, according to the latest USC Global Communications Report.
True purpose-driven marketing isn’t about a one-off campaign. It’s about embedding values into the core of business operations. It's ensuring that marketing reflects genuine actions. It’s thoughtfully executed, authentic storytelling.
Brunswick Group has added Julia Giannini as a partner in its sustainable business practice to advise clients on societal and environmental matters.
Yesterday was yesterday, purpose and social impact has a new role to play in business strategy.
