As I have stated I believe it is the purpose of organization to serve many stakeholders (customer, employees, stockholders, community…). Thankfully some companies agree: Compensation at Whole Foods – Starbucks: Respect for Workers – Google: Ten Golden Rules – Amazon Innovation. Here is another example – How Costco Became the Anti-Wal-Mart:
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Costco’s average pay, for example, is $17 an hour, 42 percent higher than its fiercest rival, Sam’s Club. And Costco’s health plan makes those at many other retailers look Scroogish. One analyst, Bill Dreher of Deutsche Bank, complained last year that at Costco “it’s better to be an employee or a customer than a shareholder.”
I am happy to invest in companies where all stakeholders are winning – I think that is a great long term strategy. Especially since so often, so many of the rewards seem to, inappropriately, go to the senior executives and everyone else [the employees seem to get the most abused but that is just my wild guess] including the owners share what is left over). I don’t own Costco, though: I prefer Tesco. I also don’t mind owning companies for a decade or more – unlike many “owners” which contributes to supporting such a long term strategy.
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