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How Should Business Act? - Coggle Diagram
How Should Business Act?
profit or protect?
“Complaints at Goldman Sachs Set Off a Workplace Debate,” - “I didn’t come into this job expecting a 9am-5pm’s, but I also didn’t expect consistent 9am-5am’s either.” even though goldman employees have many positives compared to somebody in the hospital they still have harsh treatments simply for a profit
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Michael Goldhaber, “Is Quality Healthcare Possible Under Private Equity Ownership?” - Apollo's ownership added 9 million dollars operating loss. Direct Consequences : understaffing, > 3 hour waits , ambulances driving a lot
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stakeholders
Anjali Raval, “The Struggle for the Soul of the B Corp Movement, - B corp says “Why the Time Has Come to Retire Instrumental Stakeholder Theory, : B corp says the balance of purpose and profit are important.
Why the Time Has Come to Retire Instrumental Stakeholder Theory “social purposes larger than their own perpetuation or the wealth maximization of their shareholders.”
Makes me think whether profit is still the sole goal and purpose is just a front something to show to the stakeholders watching
David Weitzner and Yuval Deutsch, “Why the Time Has Come to Retire Instrumental Stakeholder Theory,” - Managers are taught to treat stakeholders ethically because then that means they can build trust with them and get more of a competitive advantage as a company. BUT goes against original stakeholder theory
Shouldn't treat people/ stakeholders as a tool for you to achieve success or a business to make a profit