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Why We Need A Revolution In How We Do Business and Work

From multiple perspectives, traditional business models and management practices are in deep trouble, and it has nothing to do with the recent economic downturn. There are three reasons why this is true. Read More

Go smaller, local

The shareholder value revolution is a myth. Nobody is asking shareholders what their priorities are. Shareholders are diversified to the point that they want overall economic prosperity rather than narrow, single business profit maximization. Shareholders include people with 401ks, pensions, bank accounts, insurance. They are workers, parents, earthlings. They do not want junk food advertised to their kids or more carbon pumped into the atmosphere.

The people who claim to represent shareholders are the bankers and CEOs whose compensation climbs to vast new heights year after year.They alone nominate people to the board of directors, and directors are just CEOs from other companies. This is a very narrow-minded, insular group. And the top handful of banks and corporations in each industry are gobbling up their competition at a furious rate so that they have the power to control governments all over the world, including our own.
We need to change the laws governing corporations so that environmentalists, worker-elected representatives, community representatives and consumer representatives sit on the board of directors of every corporation over a certain size.
But most of all we need to rein-in Wall Street. This can be done by moving finance to local credit unions and state owned banks.

Vast amounts of wealth are spent on speculation making another financial meltdown likely. When it happens we need to be ready to nationalize the biggest banks and get the economy to a point were effective regulation is possible once again.

Refreshing article

Thanks for this post. I found it clarifying and invigorating, and by the end of the article found myself thinking about business and our economy in new ways. Very interesting....

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Ray Williams is the author of Breaking Bad Habits and The Leadership Edge.

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