Create Value for Your Stakeholders

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A business has to create value for all its stakeholders, it'll ultimately fail. All the stakeholders matter, but the investors get paid last. Profits don't come at first. After you created an organization that creates value for customers and other people, profits will result from that. But then there's all these other interdependent stakeholders ar part of that, and you have unour creating value for all of them. If they don't make any money, how are they going to be able to invest in new stores? How are they goig to grow? It's even in a consumer coop. They need to make money or they don't have a future. So get back to conscious

John Mackey says the treatment for the cancer of crony capitalism is conscious capitalism, grounded “in an ethical system based on value creation for all stakeholders,” which includes not just owners, but employees, customers, the community, the environment, and even competitors, activists, critics, unions, and the media. Mackey cites Google and Southwest Airlines as role models, and pharmaceutical companies and financial corporations as anti-role models. In a surprise pivot, Mackey lays the blame for the myth of the profit motive as the only measure of value at the feet of capitalists themselves. Mackey’s goal is to write a new narrative for capitalism that asks us to care about customers and human beings instead of data points on a spreadsheet.