Reflections

Back in the 1990’s the President and CEO of the utility company I worked for always emphasized that our focus was to balance the interests of those that comprised our “three legged stool”: employees, customers and shareholders. I was always proud to work for that organization, because the priorities were balanced and appropriate.

Now nearly 20 years later the concept of stakeholder theory is considered novel and potent enough to earn R. Edward Freeman the #42 spot on the Ethisphere list of the 100 Most Influential People in Business Ethics. It is suggested that the impact of Freeman’s newest book was made more significant given the fact that Jack Welch made #65 on the list “for admitting in an interview with Financial Times that his focus on “shareholder value” was “the dumbest idea in the world.””

To check out the entire list, and many more interesting tidbits, click here.

Linda M. Gallicchio

Associate Director; Business