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    • #7076
      Alexa CreelmanAlexa Creelman
      Participant

      I know we were given some discussion questions, but a question that came up for me in reviewing the material is how a model of “Stakeholder capitalism” fits in the classic governance structure of a corporation.

      I am referring to the Business Roundtable newly defining the Purpose of a corporation to create value for all shareholders, including people and the planet. This is a departure from maximizing shareholder value, which was also a clearer line to follow in the governance structure.

      In this modern model of business, has anything changed in the structure of governance? I would think most of the change has been felt in the mindset of directors. Where directors need to push their business decision making through the lens of creating value for their customers, their staff, their planet/communities – as well as profit generation for shareholders.

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    • #7088
      Jen BudneyJen Budney
      Participant

      This is a good question, Alexa. I think the Business Roundtable definition is currently more aspirational than something being put into practice by most businesses. That said, the B-corp movement and the benefit corporation are both interesting developments in the for-profit sector.

      B Corps are any for-profit entities that are certified by the nonprofit B Lab as voluntarily meeting higher standards of transparency, accountability, and performance. Benefit corporations exist in the US (in about half the states), and they have is legally protected requirements of higher purpose, accountability, and transparency.

      I haven’t read any studies about how governance of these businesses may work differently than governance in businesses focused solely on profit, but there may be some out there. I’ll see if I can find any in the next couple of weeks to share with you. Don’t hesitate to send me a reminder!

      Does anyone else in this class know more about these issues and organizations?

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