The Interdependence of Stakeholders

Bill George, the former CEO of Medtronic and now a professor of leadership at Harvard Business School, understands well the interdependent nature of a company’s stakeholders. He illustrates the idea using a virtuous circle. It starts with the company’s purpose and values, which serve to attract and inspire the right team members. This leads to innovation and superior customer service, which then leads to improved market share and higher revenues, profits, and eventually shareholder value. As he puts it, “This is a reinforcing, virtuous circle. If you turn it around and start with shareholder value, ...

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