WrittenPublished by: Poets&Quants
MBA News Digest Comment: None.
Extracted Content: Back in August, the Business Roundtable, a group of CEOs and other senior leaders from 181 of the biggest companies in the United States, released a statement about what they consider “the purpose of the company.” The companies — including Apple, GM, Amazon, and Walmart — explicitly moved away from the long-held orthodoxy that a business exists to maximize returns for shareholders, instead making “a fundamental commitment to all of our stakeholders” that included dealing “fairly and ethically” with suppliers, supporting communities, and protecting the environment. Evidently, times are changing, and issues which might once have been seen as peripheral to business operations are now considered central. Are business schools well-placed to deal with the new reality?