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Op-Ed: Corporate Profit Drive Redesigned to Protect Stakeholder InterestsOp-Ed by Henry Clay Ruark for Salem-News.com
Business power can be redirected to reinforce original intentions.
(BEND, Ore.) - Corporations today hold the key to further progressive and potent development of world resources to reinforce and strengthen progress around this diminishing globe which is our mutual home.
There is no longer conceivable doubt that the corporate combination of effective management with rapid access to essential asset-strength, when required, is the 21st Century pattern for any possible progress.
Worldwide developments within our embedded capitalistic system make overwhelmingly clear not only that patent and potent fact; they also illuminate, also without question, that the problems imposed on corporate management by its current slim, sole, legal but lethal purpose - to produce profits on an ascending scale - must be purposefully redesigned and developed.
Not only does “required redesign” now dominate corporate progress as ongoing businesses, but it also will become “absolutely essential to the two most essential areas for world preservation”.
Conscientious and competent usage of what world resources remain an option to us all, and comprehensive sharing among all stakeholders as the corporate form is rebuilt to work properly, is essential for the common good of all and for the widespread distribution of wealth cooperatively produced.
That’s why the Boston-based Summit On The Future Of the Corporation, assembled in Faneuil Hall, site of first steps towards the world-shaping American Revolution, is now considered an historic event in its own right, with world-shaping consequences sure to follow sooner rather than later.
Not only do we now face a painfully-plundered planet, “primarily due to corporate raids on natural resources without competent guidance and never any mercy”, but large-scale stock-holding criminality, contrived corporate “person-hood” and widespread corruption via “corporate campaign contributions” have now been proven in promiscuity and full depth for all to see with their own eyes.
An amazing, continuous record, with the latest likes of Enron and more than 50 others firmly on the record. “Contrived corporate person-hood”? Railroad Era public records clearly illuminate an ongoing continuing assault over decades, ending with paid-for and Supreme Court-allowed erroneous case-note establishing a false assumption for “precedent” clearly leading to millions and billions of dollars in “corporate campaign contributions” made to appear legal on that erroneous basis.
Such comprehensive corporate effort to assure - even guarantee - ongoing corporate sweep-up of all possible profits, even at some cost in community and stakeholder adverse consequence, are clearly driven by “short-term benefits” imposed by stock-market speculation. That pressure is irretrievably exerted by open-market stock-acquisition and its inescapable overwhelming necessity “to protect, preserve. progress share-value under any possible circumstance, at any cost.”
“Make your mark - or lose corporate control to merger threat” has become the litigious liability inexorably facing corporate management.
Corporate money-power, cannily if unethically applied to any and all governance-systems worldwide, is obviously and unmistakably forging a new and highly disturbing element in any further development of democracies; particularly in now-rapidly/developing nations until now left out of the past distributions “of the world-resource pie we must all share, or die”.
Thus we can now begin to understand fatal consequences fully documented, already “on the way” and mercilessly bound to become huge and massive in momentum and consequences for the entire world.
Thus redesign in depth and operating detail is now essentially the only answer in reality for corporate power already in place and poised for still further devastating, disastrous damages, not only to the globe itself but to any possibilities of democratic developments still under way.
Three years of full bore cooperative study and effort preceded the Boston Summit, involving opinion leaders from business, civil society, finance, government, labor and law. Their mutual charge and dedication was simply “to explore the corporation of the future”.
Their heavy duty efforts, culminating in full consequential report at the Summit, resulted in six striking Principles Of Corporate Redesign, clearly --and very persuasively-- stated in comprehensive summary now available to the general public, as well as to government groups and corporate management.
Not only does the Summit material- available cover these basic Principles, but also supplied are solidly-recorded examples of corporate redesign at work: “clearly demonstrating that the new operational dimensions can be fair for all stakeholders, meet every possible legal requirement, be effectively managed as re-designed --and create ongoing competitive advantages leading to profits.”
Perhaps the most essential redesign Principle is No. 1: The purpose of the corporation is to harness private interests to serve the public interest.
Without possible doubt, history shows that was the original intention of all ongoing effort in the earliest corporate development, with heavy emphasis on its essential importance throughout early centuries of corporate continuance.
Only in latest decades has government, always the only possible creator of the corporate format - allowed distortion and perversion to degenerate into not-so-pure pursuit only of profit at any and all costs in both corporate control and ethical operation.
Major tools for such corporate perversion include “privatization”, with corporations undertaking responsibilities long left to government “deregulation”, simple abandonment of essential government control via workable, fair and ethical requirements and “globalization”, “worldwide spread of the corporate disease” buttressed by the unfair-advantages conferred on developed nations vs the rest of the world by so-called “free trade”, often enforced on less-developed countries by fiat and force.
Principle No. 4 states: Corporations shall distribute their wealth equitably among those who contribute to the creation of that wealth. Please note this specifically relates to those involved in the corporate enterprise as participants. In no way does it impact on continuing societal action or lack of action - except by sure and ethical insistence on the human right to profit from equal opportunity and effort.
Thus the modern corporation is directed into wider opportunity for those who make its success possible - all shareholders - in exchange for the much narrower and proven extremely vulnerable current pattern of privatized “ownership”, often by negligent and impotent and highly speculative profit/only and at any cost stockholders.
Issues linked to this Principle include living wages, employee ownership, profit sharing, stakeholder councils, election and removal of board members and of management, public reporting, management of ethics, and checks and balances on management power.
Other Principles treat in detail every demanded essential problem, issue and point to illustrate, summarize, explain and justify the Summit three-year determined drive to provide precisely those practical guiding insights and overviews most essential to further corporate development - with added ethical, moral, diversity-protecting, and democracy-supporting management actions and activities.
Also available from Summit sources is a complete set of actually-operating corporate identities, redesigned and rebuilt over several past years on these same basic principles --and providing solid proof that they work, improve life and security for all stakeholders, and still produce highly-acceptable levels of return-on-investment: I.e. “profits”.
For full access to all Summit reports and publications, send request for detailed list to firstname.lastname@example.org, visit the website at Summit.org; or write: Corporation 2020, 11 Arlington St., Boston, MA 02116
Extensive documentation exists in the writer’s file for each statement herein, as result of ongoing study of Corporate Social Responsibility movement begun in the 1970s. Quotes are shortened, summarized, combined as usual working method to fit space and simplify application. Verbatim detail and sources are available on ID to editor and specific request.
Writer's files are being culled and terminated, so this access is workable for only ten days from date of publication.
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