vol. XXI no. 2
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It’s
never been easy to be a
CEO, says Isdell. In
every era, business leaders are called on to make difficult decisions
on less than full
knowledge.
However, in the aftermath of the deepest recession since the
Great Depression, business leaders today are under extraordinary
pressure. “Unfortunately, the people who have the biggest ability to
make a difference have seen their reputations plummet,” Isdell says,
“but I’d encourage them to refrain from falling
back into an isolationist mode and to improve their images by
stepping forward.”
He
knows that the ideas underpinning connected capitalism will sound too
esoteric to
some leaders with an eye focused on
reporting
quarterly earnings, but he believes that putting values first and
making these connections
will indeed lead to real long-term, sustainable benefits. “I have
a problem with
evaluating a company by the reports of analysts in this or that
quarter,” Isdell says. “The world doesn’t work that
smoothly. The quarterly
scorecard is too short term. We need to look at the long term.”
In
considering the next move for business at a time of great evolution,
Isdell is looking larger
than costs. Connected capitalism may be difficult to quantify in
dollars and cents.
However, based on many decades of business experience, Isdell
believes it is the way
forward.
In
times of economic crisis like now, connected capitalism may seem
unaffordable, but
Isdell says we can’t afford not to pursue
it.
He has a new answer to Friedman’s question: “Do corporate executives,
provided they stay
within the law, have responsibilities in their business activities other
than to make
as
much money for their stockholders as possible?” Yes, they do.
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