November 8, 2012 - Guardian Sustainable Business = Values-led Business
It's ironic that a goal so deeply entrenched in business is causing the very problem it was intended to cure, and the counter voices are getting louder.
It is time to take a hard look at the universally accepted principle that the goal of business is to maximise shareholder value.
This idea is so deeply ingrained that many people assume corporations are legally required to maximise shareholder value. But this erroneous assumption is thoroughly dispelled by Lynn Stout of Cornell Law School in a recent book, The Shareholder Value Myth and in a recent article in the Stanford Social Innovation Review by Antony Page and Robert Katz. These legal scholars persuasively debunk any such legal or fiduciary duty.... http://www.guardian.co.uk/sustainable-business/blog/maximising-shareholder-value-irony