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Kevin
Harville wrote:
An interesting strategy may be to be trustworthy.
How can you make a dead rat smell good? The whole rat needs to be changed out
for a better solution. Most answers execs are seeking would merely be
perfume.
The problem is that we reward people for selfish behavior. We are in a
competition paradigm, so that often the attitude is self-interest and
corporate interest in competition with the interests of humanity. That is
taking the competition paradigm too far. Ethics are determined to be
self-interest only, as if magically ethical obligations to humanity disappear
at the corporate veil.
Bottom line: 80% of your answer is to BE trustworthy, and since they haven't
even got that part down, we are just dealing with the window dressing.
A movement, however large or small, is based on such things as the book
Redefining the Corporation. The paradigm switch is that a corporation must be
a contributing part of humanity, not a self-serving cancer upon it.
1. Stop rewarding CEOs for failing.
If someone like Ken Lay or an AIG exec fails, the hell with them. They
claimed to be worth milllions a year for being business geniuses, so if they
go down with the ship, that is the flip side of the same deal. Why does it
appear execs are just a bunch of fellow back-scratchers covering each others
asses? Could it possibly be....because they ARE?
2. Pay equity. CEOs are E M P L O Y E E S. If they want to get rich, do
something original. Take a real risk. CEOs propagate a myth they are geniuses
far beyond us. No, they are simply people who do something different, and who
generally couldl be easily replaced. AIG execs said they couldn't be
motivated without these big failure bonuses, yet someone is supposed to be
happy working at the 7-11 for $8.00 an hour. If all Ayn Rands followers left
for the hills they would quickly find nobody gave a damn and we had leaders
and followers and they had no staff.
3. Long term thinking. I know a business consultancy firm that stopped
dealing with execs because 3/4 of them were only concerned with their image
and profits. Now they deal with small business as the owners are more sincere.
4. Never reward a company for serving itself at the EXPENSE of humanity or
the environment. Sure they can negotiate a fair price, but not pollute
EVERYONES water or take EVERYONES natural resources as their own. Many
corporations have a "polluted water? Good, we can sell water
too..." mentality.
5. Replace the Any Rand, Adam Smith paradigm of self-interest = good with a
Value Economics mentality that you profit fairly only by serving humanity.
Self interest of Smith always ends up with masters a la AIG who become all
powerful and servants who have to pay all their income just to have a house.
It is the game of monopoly. AIG had Boardwalk and Park Place and nobody could
pay the rent anymore. Replace "Profit=good" with "Service to
humanity, at a fair profit = good."
6. Remove corporate personhood. Corporations have been given HUMAN
rights...and THEN SOME. AIG has MORE rights than you or me.
When we live in a world where someone is seen as more deserving of a
million-dollar bonus for shoving money around than a worker is of being able
to afford a house and health care, it is a sick economy indeed. It was
festering for years and finally, and rightly, came to a full diseased boil.
We are in a system where if someone fails in an economic competition, that is
just too bad in a competitive world (unless you are an AIG exec in his
welfare line).
I propose Value Economics. The premise is that you are rewarded for true
service, and that all parties in an economic transaction, such as workers who
have no home ownership or health care, must be fairly rewarded.
We will trust when we are treated in a trustworthy manner.
Links:
http://www.bevaluable.com
Question Details:
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What should business leaders do to improve stakeholder trust?
Please take 30 seconds to answer this poll question "What should
business leaders do to improve stakeholder trust?" at
http://polls.linkedin.com/p/33775/fztdu The answers might surprise you.
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