Call it a win-win-win: The U.S. Chamber of Commerce Foundation honored Kroger for its Zero Hunger | Zero Waste initiative, which works to end hunger in its local communities and food waste in its entire company — victories for multiple stakeholders and the environment. Here’s how the initiative’s doing just that.
Stakeholders don’t just respond to companies’ harmful practices — they respond to perceived harm. Darden Professor Andy Wicks examines how companies should respond to stakeholders’ responses. For example: Assembly Bill 5. Are Uber drivers employees or contractors? Stakeholders and the company disagree.
A group of prominent CEOs recently issued a statement encouraging business to create value for all stakeholders, not limited to investors. Ed Freeman and his colleagues have been working with Stakeholder Theory for decades. Here, Darden professors across disciplines offer examples of how businesses can (or already are) prioritizing stakeholders.
Artisanal chocolatier Goodio’s tagline, “It’s all good,” represents its drive to succeed economically and in a socially responsible manner. The company serves as a case in point on how to embrace “radical transparency” in its efforts toward sustainability, nutrient preservation, and economic stability for farmers and employees.
Leading a public company since the late 1980s has been pretty easy in terms of understanding the “rules of the game.” That’s because the purpose of business has been so clear: just create shareholder value. But the "why" of business is changing in new and old ways.
Professor Ming-Jer Chen says in a world in which globalization and technology are rapidly recoding the very DNA of business, its time for profound reexamination of the meaning, parameters and aims of competition.
The story that business people are bad and what they do is morally questionable is false. For every Enron, there are 10,000 good companies. And most companies, like most people, are trying to do the right thing.