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arcane1

(38,613 posts) Thu Mar 26, 2015, 07:50 PM Mar 2015

Salesforce CEO Slams 'The World's Dumbest Idea': Maximizing Shareholder Value [View all]

Jack Welch has called it “the dumbest idea in the world.”

Vinci Group Chairman and CEO Xavier Huillard has called it “totally idiotic.”

Alibaba CEO Jack Ma has said that “customers are number one; employees are number two and shareholders are number three.”

Paul Polman, CEO of Unilever [UN], has denounced “the cult of shareholder value.”

John Mackey at Whole Foods [WFM] has condemned businesses that “view their purpose as profit maximization and treat all participants in the system as means to that end.”

This week, Marc Benioff, Chairman and CEO of Salesforce [CRM] joined these CEOs and declared in an article in the Huffington Post that this still-pervasive business theory is “wrong. The business of business isn’t just about creating profits for shareholders — it’s also about improving the state of the world and driving stakeholder value.”

-snip-

http://www.forbes.com/sites/stevedenning/2015/02/05/salesforce-ceo-slams-the-worlds-dumbest-idea-maximizing-shareholder-value/

I didn't realize this particular heresy was so popular!

54 replies

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Salesforce CEO Slams 'The World's Dumbest Idea': Maximizing Shareholder Value [View all] arcane1 Mar 2015 OP

Yet, Sherman A1 Mar 2015 #1

Indeed! Talk is, as they say, cheap. arcane1 Mar 2015 #2

I'll be interested in hearing your counterpoint; with documentation, of course. nt Xipe Totec Mar 2015 #3

Well there is this... Sherman A1 Mar 2015 #9

I read the whole article. Glassunion Mar 2015 #15

Doodie head. LOL Chellee Mar 2015 #22

After a careful reading of the article, I have to accept your assessment; he is a doodie head. Xipe Totec Mar 2015 #34

Pssssst.... Glassunion Mar 2015 #13

jack welch...is about maximizing jack welch. and he's an alien. fuck him. ND-Dem Mar 2015 #28

Too bad he didn't feel so like minded about the minimum wage employees being paid more. Dustlawyer Mar 2015 #30

An ill-fitting "human" disguise if I've ever seen one. Inhabiting a cheap, third-hand cadaver. NBachers Mar 2015 #37

the epitome of a republican DrDan Mar 2015 #41

Salesforce luxmatic Mar 2015 #31

Thanks for the info and links. raven mad Mar 2015 #35

American businesses were the most successful when the customer was king hifiguy Mar 2015 #4

And today we have outsourcing, planned obsolescence, and "flexible" workforces arcane1 Mar 2015 #5

Personally, I lay the principle blame at the feet of hifiguy Mar 2015 #7

+1000 smirkymonkey Mar 2015 #11

Spot on BrotherIvan Mar 2015 #20

Yep! n/t RKP5637 Mar 2015 #26

Hit them with some fresh Six Sigma black-belts too, in their non-manufacturing sectors. arcane1 Mar 2015 #24

Hey now PowerToThePeople Mar 2015 #25

I'm sure there are advantages in the right environments, but it's become a religion where I work arcane1 Mar 2015 #27

I think the issue with tools like this PowerToThePeople Mar 2015 #29

Yes, because CRM is the way to happiness and job satisfaction! PassingFair Mar 2015 #6

Jack Welch, gimme a break. JackRiddler Mar 2015 #8

this is the reality PowerToThePeople Mar 2015 #14

I have worked at three hedge fund-owned businesses. PassingFair Mar 2015 #36

Isn't Salesforce on the Indiana HQ list? Downwinder Mar 2015 #10

Benioff on Indiana WestCoastLib Mar 2015 #12

Look forward to seeing his next step. Downwinder Mar 2015 #17

Didn't take long. Downwinder Mar 2015 #21

Their headquarters is in San Francisco. They bought a company that was in IN. (nt) jeff47 Mar 2015 #19

The list of toxic effects created by this mindset in the article hifiguy Mar 2015 #16

Good List, That ProfessorGAC Mar 2015 #48

It is from a link in this thread. hifiguy Mar 2015 #50

The only problem is that he is listing who he is screwing over Taitertots Mar 2015 #18

+a whole bunch! RiverLover Mar 2015 #47

Wow ... 1StrongBlackMan Mar 2015 #23

You Know Though, 1SMB. . . ProfessorGAC Mar 2015 #49

If I might ask ... 1StrongBlackMan Mar 2015 #52

Kellogg in the Mid to Late 90's ProfessorGAC Mar 2015 #53

Wow ... 1StrongBlackMan Mar 2015 #54

When are people going to wake up and realize Wall Street is NOT "The Market".... Spitfire of ATJ Mar 2015 #32

+1,000,000 It's actually dismantling the US market these days and moving it elsewhere. ND-Dem Mar 2015 #38

Ever watch "Shark Tank"? Spitfire of ATJ Mar 2015 #39

what a surprise. that's what they all want. but then they'll have to eat each other for ND-Dem Mar 2015 #40

It ain't to be replaced by rabbits.... Spitfire of ATJ Mar 2015 #42

Short term gain at the expense of long term stability. Throd Mar 2015 #33

R&K! RiverLover Mar 2015 #43

K&R woo me with science Mar 2015 #44

Someone wrote an entire book about it. HughBeaumont Mar 2015 #45

Thank you for the post! This books sounds like it's right up my alley :) arcane1 Mar 2015 #46

Greed is infinite. Manifestor_of_Light Mar 2015 #51