Serving All Stakeholders
By: Rick Boxx
September 17, 2013
A study done by John Kotter and James Heskett in the 1990s discovered that profits were enhanced significantly when the culture of an organization valued all stakeholders, including customers, employees, and shareholders.
For those company cultures that met the needs of all stakeholders, their profits were 756% higher than other organizations that did not have those traits. The companies with strong cultures, additionally, saw revenues increase 4 times faster than their peers and job creation was 7 times higher.
Kotter and Heskett's study concluded that performance excellence is tied to serving the interests of all stakeholders, not just the shareholders.
Proverbs 22:4 teaches, The reward of humility and the fear of the LORD are riches, honor and life.
Serving all stakeholders in business requires humility, but it comes with great rewards.