A Quote by Lakshmi Mittal
I am very confident that we will be able to convince all the stakeholders - the shareholders, the governments and the employees, that this is in their best interests.
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Corporate executives need to re-frame their responsibilities to include the interests of all the stakeholders in society at large; not just shareholders, but also employees, the citizens of our communities, and those who care about the environment.
The CEO announces that the purpose of the firm is to improve the lives of the customers and the lives of the firm's stakeholders and the quality of the planet. The company will give fair compensation to all the stakeholders and the CEO will not earn more than 20 times the median income of his employees. He will want his employees to rate him, just as he also has to rate them.
Creative tension is constructive. Its purpose is to bring out the very best in management so that senior executives can generate the greatest value for shareholders, stakeholders, and society at large.
With management and employees on the same side of the table, your interests are aligned, and shareholders look at you as one.
My role is really just to try to make sure that the voice of all shareholders and employees is heard - that no one is bullying their agenda, their choice of a CEO, or their selection of who should be the board members. Benchmark, I believe, has been pushing their agenda at the expense of those stakeholders.
Companies, to date, have often used the excuse that they are only beholden to their shareholders, but we need shareholders to think of themselves as stakeholders in the well being of society as well.
Who are businesses really responsible to? Their customers? Shareholders? Employees? We would argue that it’s none of the above. Fundamentally, businesses are responsible to their resource base. Without a healthy environment there are no shareholders, no employees, no customers and no business.
Dodge v. Ford still stands for the legal principal that managers and directors have a legal duty to put the shareholders' interests above all others and no legal authority to serve any other interests - what has come to be known as "the best interests of the corporation" principal.
Modern Australian trade unionism and the unionist that I am doesn't rely on a class war view that somehow that the interests of employees and managers are in two separate spheres and they're irreconcilable. I believe that when people can go to work and be happy, satisfied, engaged, where the employer is getting employees who feel their interests are aligned with the employer, you get productivity. This is the future of Australian workplaces.
If Obama raises my company's taxes by 20 percent, how am I going to be able to survive as a company? Well, if I've got 30 employees, that means I'm going to have to lay off 10 employees so I can be able to keep up with the health and benefits and pension plans for my other 20 employees.
I am convinced that companies should put staff first, customers second and shareholders third - ultimately that's in the best interest of customers and shareholders.
Your employees come first. And if you treat your employees right, guess what? Your customers come back, and that makes your shareholders happy. Start with employees and the rest follows from that.
The Majesty guitar symbolizes the very reason why I am so proud to be a Music Man artist. I had the idea for this guitar a couple of years ago but it is because of their innovative spirit and dedication to the art of guitar building that it is now a reality. I am so grateful that I am able to collaborate with the best guitar company on the planet and so incredibly proud that together we have created what is to me, the perfect musical instrument for guitar players. I really hope you get a chance to play one and am confident that you will feel the same!
I am very confident. I look confident. I act confident. I speak in a confident way.
When you manage your company for long-term shareholders, and you manage the company for clients, two of the biggest stakeholders, you will make the right decisions.
We should all be able to have faith that our governments are working in our best interests - and if they aren't, then they should be challenged and held to account.
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