It’s time for business leaders to take off the blinders

“Purpose is not a mere tagline or marketing campaign; it is a company’s fundamental reason for being — what it does every day to create value for its stakeholders. Purpose is not the sole pursuit of profits but the animating force for achieving them.

Profits are in no way inconsistent with purpose — in fact, profits and purpose are inextricably linked. Profits are essential if a company is to effectively serve all of its stakeholders over time — not only shareholders, but also employees, customers, and communities.”

Look, companies are not NGOs. They will always act out of self-interest. Yet it is encouraging to see leaders, such as Larry Fink, publicly supporting the idea that corporate (and investor) interests are served when companies consider, and meet, the needs of all stakeholders. Again, this seems obvious!

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