The Power of Virtual Distance, 2nd Edition

6Managing Virtual Distance

So far, we've talked about many ways in which Virtual Distance has gone unchecked for the last fifteen years. Beyond financial and competitive hits, Virtual Distance also leads to toxic behaviors that demonstrably erode the human experience at work and elsewhere. In response, CEOs have begun to acknowledge the critical mass of employees, partners, and others who've grown distrustful of business culture as a consequence. In a “Statement on the Purpose of a Corporation,” the Business Roundtable, recently published a manifesto of sorts acknowledging that the sole focus on shareholder value as a business purpose is no longer appropriate. They stated the following:

We commit to:

…Dealing fairly and ethically with our suppliers. We are dedicated to serving as good partners to the other companies, large and small, that help us meet our missions.

…Supporting the communities in which we work. We respect the people in our communities and protect the environment by embracing sustainable practices across our businesses.

…Generating long-term value for shareholders, who provide the capital that allows companies to invest, grow, and innovate. We are committed to transparency and effective engagement with shareholders.

…Each of our stakeholders is essential. We commit to deliver value to all of them, for the future success of our companies, our communities, and our country.

Excerpt from “Statement on the Purpose of a Corporation,” Business Roundtable, August 19, ...