No matter how earnestly companies proclaim their support for 'stakeholder capitalism' ' the popular promise that they now take care of employees, communities, the planet, and other 'stakeholders,' not just themselves ' profits still come first. The more foundational tension is whether it's even possible for companies to solve the societal challenges they claim to be determined to fix. For years, the corporate sector has been using, and misusing, the term, addressing the wider accountability of corporations in relation to their business operations. Under stakeholder capitalism, organizations create long-term value by taking into account the needs of all their stakeholders: among them employees, customers, suppliers, local and global communities, lenders, and shareholders. It feels like a lifetime ago that, in 2019, 181 CEOs of the biggest companies in the United States came together to redefine the purpose of a corporation: to promote 'an economy that serves all Americans.' We can...
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