In the last couple of years, a number of HBR commentators, such as Jeffrey Pfeffer, Nathan Washburn and Dominic Barton, have made the case for greater weight to be given to the interests of non-shareholder stakeholders — employees, suppliers, customers, partners, society — in strategy development. Reinforcing these arguments is research showing that long term returns to shareholders are improved when their interests are not considered paramount. As Washburn summarized, “Making the bottom line your top priority may not be the best way to improve profitability. Recent research shows that CEOs who put stakeholders’ interests ahead of profits generate greater workforce engagement — and thus deliver the superior financial results that they have made a secondary goal.”
Implementing a Stakeholder Strategy
In the last couple of years, a number of HBR commentators, such as Jeffrey Pfeffer, Nathan Washburn and Dominic Barton, have made the case for greater weight to be given to the interests of non-shareholder stakeholders — employees, suppliers, customers, partners, society — in strategy development. Reinforcing these arguments is research showing that long term […]
July 28, 2011
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New!
HBR Learning
Strategy Planning and Execution Course
Accelerate your career with Harvard ManageMentor®. HBR Learning’s online leadership training helps you hone your skills with courses like Strategy Planning and Execution. Earn badges to share on LinkedIn and your resume. Access more than 40 courses trusted by Fortune 500 companies.
How to develop a winning strategy—and put it to work.