While many modern American corporations continue to serve as an example of high level of corporate social responsibility, virtually all public companies are finding themselves under increasing pressure from the investment community in order to maximize shareholder value. As a result, the interests, not a shareholder of the company constituencies neglected. The government should step in and function as an arbitrator, the adoption of rules and regulations that define what we expect from the corporation in the way of such things as working conditions, the environment and training. But as the political process is the only remaining means of expressing non-shareholder stakeholders, if corporate managers want to be free, to maximize shareholder value, it is impractical for them are also involved in the formation of public policy. "Hide
by Robert B. Reich Source: California Management Review 11 pages. Publication Date: January 1, 1998. Prod. #: CMR099-PDF-ENG
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