Salesforce CEO: Companies should focus on stakeholder value, not shareholder value - Fortune Global Forum - video Dailymotion

Fortune

Salesforce CEO Marc Benioff told the 2015 Fortune Global Forum that his focus as a leader ⁠is to create stakeholder value, "not shareholder value." ⁠⁠ This year, the Fortune Global Forum will convene October 26–27 in Riyadh, Saudi Arabia, to explore the strategies that will define the next era of business growth.⁠

Transcript

00:00When I went to business school, I was, you know, taught the basics of Milton Friedman,

00:04you know, the business of business is business, it's shareholder value, you know,

00:08and that that's where the CEO is going to keep their focus.

00:12My approach is not shareholder value.

00:14My approach is stakeholder value.

00:16You know, for more than a dozen years, I've been going to this World Economic Forum in Davos,

00:21Switzerland, and the founder of that conference, he went to Berkeley here,

00:28and he wrote in 1972 this concept called stakeholder theory,

00:32which says that through a multi-stakeholder dialogue, that's where you build the highest level of value

00:36with your company and your organization, that is, your customers, your employees, your partners,

00:42the community, the environment, all these are critical stakeholders,

00:45and if you can manage that stakeholder value, that's going to give you the highest shareholder return,

00:50and it's evident, you can look at our 10-year chart on Yahoo Finance, it's been very good, okay,

00:55but it comes out of that philosophy, it comes not through a relentless focus on shareholders,

01:01it comes through a relentless focus on stakeholders,

01:04and employees are one of those critical stakeholders.

Salesforce CEO: Companies should focus on stakeholder value, not shareholder value - Fortune Global Forum

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