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Since its inception, Apple has been building the image of a company that intends to change the world. He didn't try to put too much emphasis on the financial side of things. Now he is joining an initiative to change the fundamental principles of corporations.

Apple's management often behaved unpredictably, and this probably annoys shareholders the most to this day. He doesn't even invite them to make important decisions many times, and he even allows himself statements like "if you don't like it, you can sell the shares".

The company resolutely reaffirmed this position by signing along with 180 other corporations. Large companies reportedly want to change and have declared their new direction in a special document. It was signed by many important names including Tim Cook for Apple.

The new meaning of corporations is thus for the benefit of everyone – customers, employees, suppliers, communities and, of course, also shareholders.

Since 1978, the Business Roundtable has published a document called "Principles of Corporate Governance". For over twenty years, since 1997 to be precise, a focus on shareholders has been part of these principles. But that is changing now, and corporations intend to modernize and prepare for a new era.

business-roundtable
Value-oriented corporations

The document further describes five important supports. Shareholders are only one of them and not the main one. Including:

  • Customer value
  • Employees
  • Fair dealing with suppliers
  • Community support
  • Long-term benefit for shareholders

Apart from Apple, the 181 companies that signed the new declaration also include Amazon, American Airlines, Catepillar, IBM, Johnson & Johnson, and Pfizer. Walmart and others. Among the corporations that did not sign the call, for example, is the GE group. Blackstone or Alcoa (full text in AJ here).

It is a little difficult to imagine how such large and bureaucratic firms, which corporations undoubtedly are, will turn into value-based companies. Those who are primarily concerned with a higher meaning and not money.

On the one hand, Apple has been there for a long time, on the other hand then for the financial results they must report, as required by shareholders. And what about Amazon billionaire Jeff Bezos?

Source: 9to5Mac

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