Richard Cavanagh, Harvard Professor and Former Chairman of BlackRock
Successful companies look not only at shareholders but also at customers, employees, and the environment.
Richard Cavanagh, Harvard Professor and Former Chairman of BlackRock, highlighted the importance of transitioning from a shareholder-centric model to stakeholder capitalism during his speech at the Asian Leadership Conference. He stressed the need for companies to consider the interests of various stakeholders beyond shareholders.
Johnson & Johnson serves as a prime example of a company that has successfully embraced stakeholder capitalism since its inception in the 1890s. By prioritizing customers, employees, and even collaborating with universities, they have grown into a global pharmaceutical leader, demonstrating the value of this inclusive approach.
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