PART 4Building for the Long Term
What kind of ownership or governance is needed to be a successful business contributing to a better society? As I have elaborated on throughout the text, there are a number of principles and behaviors that I think are important and need to be established and promoted by the owner or owners: long-term thinking, a willingness to take risks, balanced remuneration of managers, establishing a history and a heritage, strong sound values, and a vision that speaks to all stakeholders.
Are there any potential downsides to being private or public with a committed founder or owner in control as opposed to being public with a differentiated and anonymous owner structure? I cannot think of very many.
It’s true that private ...
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