Ownerless Corporations in a Short-Term World The balance of power at public companies has been gradually shifting away from shareholders tomanagement, the day-to-day agents at these companies. At the same time, labor unions have been in steady decline as mobility of production and employment has decreased their bargaining position, weakening yet another stakeholder with longer-term interests.
This shift in power balance is leading to what Lord Myners calls “ownerless corporations” (Burgess 2009). This situation leads to short-term thinking dominated by a trading mentality, manifesting itself in short-term business strategies that can imperil long-term corporate success and organizational stability. Click here to read more…
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