At the TechCrunch Disrupt conference in 2019, Salesforce CEO Marc Benioff announced that capitalism in its traditional form is over, signaling a shift toward a new model. He emphasized that modern business leaders must prioritize not just profits but also the needs of various stakeholders, including employees, customers, and the environment. This shift reflects a growing consensus among executives that long-term success requires a commitment to broader social responsibilities, indicating a potential change in corporate priorities and values.
Capitalism as we know it is dead. We're going to see a new kind of capitalism. If your orientation is just about making money, I don't think you're going to hang out very long as a CEO or a founder of a company.
After decades of serving shareholders alone, CEOs were embracing the idea that they should also be concerned about stakeholders-employees, customers, suppliers, local communities, and even the planet.
#capitalism #stakeholder-theory #business-leadership #corporate-social-responsibility #tech-conference
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