“I like work: it fascinates me. I can sit and look at it for hours.” – Jerome K. Jerome, “Three Men in a Boat”, 1889

Tuesday, February 26, 2013

Business Constituents

Many modern business texts used in MBA programs will tell you the "purpose of a business is to maximize shareholder value."

I think teaching that to tomorrow's managers and leaders is a bit misleading, and maybe misguided.

A business exists to meet the needs of three key constituencies:

  • Customers
  • Employees
  • Owners

It is important that a business has a strategy to meet all constituents' needs.

Read on for my thoughts.

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Tags:  business,  thoughts
Posted under: The Business World • by Rick on 02/26/2013 at 11:23 AM
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