Why stakeholders matter - A view from Davos
Marc Benioff, CEO and Chairman of Salesforce explains how Davos highlighted the need for corporations to shift from a shareholder focus to a stakeholder focus.
"That was the vision of Professor Klaus Schwab when he founded the World Economic Forum in 1971, and it remains the core principle underlying the annual Davos gathering. He believes that we have an imperative to shift from creating shareholder value to stakeholder value. His "stakeholder theory" asserts that corporate management isn't just accountable to shareholders, and that businesses must focus on serving the interests all stakeholders -- customers, employees, partners, suppliers, citizens, governments, the environment and any other entity impacted by its operations."
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