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It’s Time to Redefine ‘Business as Usual’: Exploring Stakeholder Capitalism

SOCAP Global September 29, 2020

Fifty years ago, Milton Friedman published his seminal essay that continues to serve as an underpinning of how the world does business today. The concept of shareholder primacy, that a business’s only role is to create the best possible financial returns for shareholders, directors and investors, has led to such a narrow focus of business directors and investors that all other stakeholders — workers, communities, the environment — who are impacted by a business’s operations are not considered. This system design flaw has created a multitude of social and environmental issues around the globe, but there are potential fixes currently gaining traction that could serve as a better way forward. Together, in a collaboration between SOCAP and B Lab, we’ll take a look at how we got here, define key terms, and look at stakeholder capitalism in action with this panel of experts and practitioners.

Speakers:

Brett Hurt, CEO and co-founder, data.world

Holly Ensign-Barstow, Director of Stakeholder Governance and Policy, B Lab US & Canada

Paul Kabotie, Chairman of the Board of Trustees of the Hopi Foundation

Samuel C. Johnson Professor in Sustainable Global Enterprise at Cornell University

Christopher Marquis (moderator)

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