A One-Legged Stool: How Shareholder Primacy Has Broken Business (And What We Can Do About It)

Have you ever wondered if business needs to be so...unbalanced?

Is putting shareholders above everyone else the only way for private enterprise to be successful? Is that "just the way it is?"

The short answer is "no."

Before "shareholder primacy" took hold in the 1970s, investors weren't more important than other stakeholders. Companies balanced the interests of all the legs of the corporate stool - customers, employees, communities, and shareholders - and everyone's life got better.

So, what happened? How did we get to today, where "maximizing shareholder value" is seen as the panacea for all the world's ills? And, more importantly, what's the path forward that allows business to profit by applying its significant resources to solving society's problems, rather than making them worse?

We all rely on the stool of business to elevate our lives. Let's fix it before it collapses.

1140995655
A One-Legged Stool: How Shareholder Primacy Has Broken Business (And What We Can Do About It)

Have you ever wondered if business needs to be so...unbalanced?

Is putting shareholders above everyone else the only way for private enterprise to be successful? Is that "just the way it is?"

The short answer is "no."

Before "shareholder primacy" took hold in the 1970s, investors weren't more important than other stakeholders. Companies balanced the interests of all the legs of the corporate stool - customers, employees, communities, and shareholders - and everyone's life got better.

So, what happened? How did we get to today, where "maximizing shareholder value" is seen as the panacea for all the world's ills? And, more importantly, what's the path forward that allows business to profit by applying its significant resources to solving society's problems, rather than making them worse?

We all rely on the stool of business to elevate our lives. Let's fix it before it collapses.

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A One-Legged Stool: How Shareholder Primacy Has Broken Business (And What We Can Do About It)

A One-Legged Stool: How Shareholder Primacy Has Broken Business (And What We Can Do About It)

by Ed Chambliss
A One-Legged Stool: How Shareholder Primacy Has Broken Business (And What We Can Do About It)
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A One-Legged Stool: How Shareholder Primacy Has Broken Business (And What We Can Do About It)

A One-Legged Stool: How Shareholder Primacy Has Broken Business (And What We Can Do About It)

by Ed Chambliss

Overview

Have you ever wondered if business needs to be so...unbalanced?

Is putting shareholders above everyone else the only way for private enterprise to be successful? Is that "just the way it is?"

The short answer is "no."

Before "shareholder primacy" took hold in the 1970s, investors weren't more important than other stakeholders. Companies balanced the interests of all the legs of the corporate stool - customers, employees, communities, and shareholders - and everyone's life got better.

So, what happened? How did we get to today, where "maximizing shareholder value" is seen as the panacea for all the world's ills? And, more importantly, what's the path forward that allows business to profit by applying its significant resources to solving society's problems, rather than making them worse?

We all rely on the stool of business to elevate our lives. Let's fix it before it collapses.

Product Details

ISBN-13: 9798985448719
Publisher: Best Friend Brands, LLC
Publication date: 03/14/2022
Sold by: Barnes & Noble
Format: eBook
Pages: 270
File size: 2 MB

About the Author

Ed Chambliss has spent over 35 years in marketing, watching his otherwise smart clients make increasingly poor decisions that damage their companies - just so they could extract more money for their shareholders. In 2018, he walked away from being a CEO to figure out why business was on such a destructive path and what could be done to change it. The result is this book.

Table of Contents

INTRODUCTION

  1. A LOSS OF TRUST
  2. WHO'S TO BLAME?
  3. So, Let's Blame the CEO
  4. Okay, Then Let's Blame the Company
  5. Finally, Let's Blame the Priorities
  6. THE 50-YEAR-OLD FALLACY
  7. THE UPSIDE OF PROGRESS
  8. THE CATASTROPHE OF EFFICIENCY
  9. UNDERSTANDING SATISFACTION
  10. SIX STEPS FOR BUSINESS LEADERS
  11. Step One: Make Your Choice
  12. Step Two: Figure Out Which Friend You're Going to Be
  13. Step Three: Assemble the Components of Satisfaction
  14. Step Four: Determine How Much Satisfaction Will Cost
  15. Step Five: Show Everyone You Mean It
  16. Step Six: Tell Everyone About It
  17. FOUR ROLES FOR ALL OF US

A FINAL THOUGHT

Notes

Acknowledgments

About the Author


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