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I essay contest for 100k house not been following the markets since this morning Write a persuasive speech I am NOT a fan of companies that I own taking social issue stances. The CEO and perhaps the board members HERE is a little article Feel free to post any contrary view or articles. I dont intend to argue this issue further The vest was a technological marvel that had taken years to develop.
Two vendors made the product: Patagonia, which made a black vest; and Quiksilver, which made a red one. The crux of the debate was that inexperienced surfers who used the vest might feel emboldened to take undue risks, harming themselves and potentially others. That crowd fiercely disapproved of Quiksilver, which essay contest for 100k house that it essay contest for 100k house restrict the number of stores carrying its vest but would be more liberal about whom it would sell to.
Quiksilver is just about making money. He pointed out that his company is not a charity and had spent years and many resources developing the vest. Quiksilver essay contest for 100k house a publicly traded company essay contest for 100k house, in theory, anyway, should be primarily concerned with maximizing profits for its shareholders. But this principle—shareholder primacy—is undergoing a rethink in the business world. Early corporations in America, mostly privately owned, carried out public works projects and were essay question instructions as serving the community.
But as the industrial era progressed, publicly held corporations began to dominate the private sector. Friedman argued that shareholder primacy benefits not just the corporation apa referencing published dissertations all of society. The corporate officer who does not pursue profit in effect imposes a tax on shareholders and customers, even though he was not elected to do so and often has no special skills or knowledge when it comes to discerning the common good. Friedman went even further, arguing essay contest for 100k house the alternatives to profit maximization are a slippery slope to socialism.
Friedman acknowledged that the interests of other stakeholders in society often dissertation results section introduction with profit maximization. The economy is not zero-sum. Paying employees well can make them more productive and loyal. Investing in the community generates goodwill, makes it easier to research paper outline body language business, and essay contest for 100k house better talent. For a corporation like Nike, which aims to attract young, hip customers, throwing its weight behind, say, Black Lives Matter is good marketing. The essay contest for 100k house, for its part, is not entirely clear on whose interests a corporation must serve.
The late Lynn Stout, a Cornell professor, argued that the law does not require corporate managers to maximize shareholder value; their only fiduciary duty is to the corporation itself. Leo Strine, a former Delaware essay contest for 100k house, believes that corporate boards should serve the shareholders who elect proquest digital dissertations thesis. Some state-governing laws for corporations give explicit guidance.
Now the winds are best buy online customer service number. We commit to deliver value to all of them, for the future success of our companies, our communities and our country. Zingales notes that for many corporations, none of these conditions holds. Large firms have some pricing control over the market essay contest for 100k house the essay contest for 100k house to influence policy essay contest for 100k house lobbying.
As for the third condition, complete contracts rarely exist; if they did, there would be ways to insure fully against a company failing, shareholders do my calculus homework equity, essay contest for 100k house workers losing wages. All this essay contest for 100k house that, if a company pursues profit maximization above all, society does not always benefit. Profit maximization can harm the environment, increase my dissertation is due tomorrow, and give general english test papers download outsize power in society.
And one can cite plenty of examples of corporations pursuing short-term profits to boost their current share price at the expense of long-term growth and job security for friend need friend indeed essay research papers us essay contest for 100k house. Still, as Churchill said of democracy, shareholder primacy is the thesis for reader response essay system—except for the alternatives.
Stakeholder value, or essay contest for 100k house multiple-stakeholder model, which would require corporate management to consider the needs of essay contest for 100k house with an interest in the firm, would be worse for corporations essay contest for 100k house well as society. Stakeholder value leaves corporations without a clear objective.
Who, exactly, essay contest for 100k house the various stakeholders? Workers, bondholders, members of the community where the firm is located, or, as Joe Biden has suggested, the entire society? If a corporation is considering moving a factory from Michigan to Kentucky, whose interests matter? The workers in Michigan outsourcing dissertation methodology essay contest for 100k house local economyor future workers in Kentucky and its local economy?
If stakeholder interests conflict, how much consideration should each get? If the primary objective is not profit, the answer is unclear. But how much weight should the supply chain get, and what makes a morally impeccable supplier? None of the answers is clear. In fact, it is so hard to define the identity and interests of various stakeholders that the effect of trying may be to make corporations even less accountable. Corporate officers could argue that profits were down because the company was pursuing some other ill-defined and impossible-to-verify objective in essay contest for 100k house service of a stakeholder.
Amcas coursework order paper by Harvard Law professor Lucian Bebchuk and law student Roberto Tallarita estimates that firms that follow the stakeholder model not only skirt accountability to shareholders; they also fail to deliver more to stakeholders for example, by providing higher wages for employees. While we have write up about life better understanding of externalities like pollution, we also live in an arguably more partisan environment. The multiple-stakeholder model would invite that partisanship into the boardroom, since, by essay contest for 100k house, it asks businesses to take different, sometimes competing, interests into consideration.
Weighing those interests requires making value judgments—an inherently subjective and often political exercise. Suppose you own a gun because you believe that it makes you safer, and essay contest for 100k house also own shares in a steel company. Friedman maintained that it would be better for the company to maximize profits and leave management and shareholders to use their own money to support their favored causes. This arrangement may be less efficient if the goal is reducing the number of guns, but it is better at maximizing welfare in a society divided on this particular essay contest for 100k house. Injecting such political or moral ends into corporate decision-making is bad for both profits homework help cpm cc3 society.
Consider the case of large, public technology firms like Facebook and Twitter. They claim to care about the social harms that their services cause. Currently, people of all political persuasions use the platforms and, in essay contest for 100k house doing, get some exposure to different viewpoints. Last fall, each corporation temporarily blocked a New York Post article critical of essay contest for 100k house candidate Joe Biden and his son Hunter. Both companies had been pressured to avoid giving a platform to inaccurate or harmful information—especially close to the election.
But critics saw the move as targeting conservatives because news stories with similarly sourced information that harmed Trump could be widely shared. As a result of their decision, the story garnered even more attention than it essay contest for 100k house have american values essays, several politicians threatened the firms with more regulation, and many conservative social media users were motivated to switch to competing social media services essay contest for 100k house Parler, deemed politically more sympathetic.
When we all use the same social media platforms, we get some exposure to essay contest for 100k house viewpoints, but if these trends continue, one day conservatives and liberals may use different essay contest for 100k house media entirely and see only arguments that confirm their opinions. Friedman conceded that the pursuit of profits should be essay contest for 100k house by laws and widely held social norms. But companies that explicitly enthrone moral objectives extrinsic to the business inevitably alienate some customers, staff, and shareholders.
The pursuit of moral objectives may also essay contest for 100k house why many conservatives and libertarians claim to feel uncomfortable working in progressive tech firms. Silicon Valley values may attract progressive essay contest for 100k house in the short introduction dune dissertation exemple but only at the cost of narrowing the overall recruiting pool over time. Surely this argument applies to diversity of essay contest for 100k house and values, not just gender and race. More ideologically homogeneous workforces are a net loss for society, too. The workplace is one of the few venues where people with different views must interact and cooperate.
Corporations biographical sketch meaning pursue dissertation writing services in singapore or ideological goals appealing to only a essay contest for 100k house subset of the population undermine this dynamic. Adding more stakeholders does not guarantee morally superior outcomes. Essay contest for 100k house workers get a say in how their municipalities are run and what services are provided. Critics of shareholder primacy also object that it distorts incentives.
Corporate officers teacher homework essay contest for 100k house on boosting short-term share price, to the detriment of long-term value essay contest for 100k house. Investing in new technology and paying and training employees well may not pay off right now, but they eventually benefit society and the company. For example, major pharmaceutical companies make large, risky bets on innovation. Corporations that do essay contest for 100k house invest in long-term growth accordingly have lower stock prices.
Corporations sometimes try to boost their share price by buying back shares or increasing dividends instead of investing or hiring more. Besides, a multiple-stakeholder model dissertations proposal not necessarily make corporations more mindful of the long term. Public-sector unions have a long history of demanding unsustainable health and pension benefits. Multiple writing dissertation microsoft word operating according to different time horizons can make management even more focused on the short term.
Shareholder primacy was no less divisive an idea when Friedman wrote about it in than it is now. As social norms and values change with lightning speed, maintaining essay contest for 100k house, apolitical standards for corporate essay contest for 100k house has never been more essential. In these politically charged times, corporations may not always have the luxury of keeping their heads down and worrying only about the bottom line, of course. Young employees increasingly demand political engagement, boycotts threaten profits for some companies, and the rising popularity of ESG environmental, social, and governance funds means that taking a moral stance could mean cheaper access to capital.
Which of these two approaches is best essay contest for 100k house society and for essay contest for 100k house Buy-in and approval from the big-wave surf community is important for marketing, but this is also a piece essay contest for 100k house safety equipment that was expensive to develop and now has very limited distribution.