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In 2019, the Business Roundtable (BRT), “an association of chief executive officers of America’s leading companies” decided to pursue a “New Corporation Mission Statement,” to help answer the question: “What’s the Purpose of a Corporation?”
Jamie Dimon, CEO of JPMorgan Chase (and, in 2019, also the chairman of the Business Roundtable) noted that: “The American dream is alive, but fraying” and highlighted the importance of corporations serving not only shareholders (e.g., by generating profits), but also serving stakeholders (e.g., employees, vendors, communities, our country, etc.): https://www.businessroundtable.org/business-roundtable-redefines-the-purpose-of-a-corporation-to-promote-an-economy-that-serves-all-americans
Last year, more than 181 CEOs – including Jeff Bezos of Amazon, Tim Cook of Apple and others – signed a “commitment” to the Business Roundtable’s new corporation mission statement: https://opportunity.businessroundtable.org/ourcommitment/
In 2020, Doug McMillon, (CEO of Walmart and current chairman of the Business Roundtable), as well as Mary Barra, (CEO of General Motors) offered this update regarding the efforts of corporations on behalf of all of their stakeholders: https://www.youtube.com/watch?v=EsVFFNzhvwQ
Questions: What do you think of this commitment by so many of America’s major CEOs? Is it enough or should corporations do more for its stakeholders?
Sample Solution
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