Instead of executives taking an unreasonably high share of total compensation, they could take less and still do incredibly well. They could give better pay to all employees, or pay all of their employees’ health benefits. Executives could choose to make sure everyone on staff wins when they do. Instead of using layoffs to maximize shareholder value, business owners could commit to keeping the team together for the long-term good of all.
Conventional wisdom says the best way to run a business is to make the biggest profit, boost the stock price, and maximize shareholder value. Start and end with the bottom line. If you’re making money, you’re doing it right.
We reject that conventional wisdom.
We believe in making a profit, yes. We are unequivocally capitalists—but we believe that capitalism and sharing are compatible.
We believe that businesses can prioritize their people and their principles and still make profits.
Companies can do better by their staffs, help make the world a better place, and still finish the year with healthy bottom lines.
Putting these beliefs into practice isn’t easy, but it’s worth the work.
A better world is possible. You can help build it.
The blueprint is simple:
Limit your greed, and persuade others to do the same
Companies must make profits to survive, but what if profit wasn't the main goal? What if maximizing shareholder value wasn't a goal at all? What if business leaders limited their compensation so that all employees could have more? In Limit Your Greed, Mark Van Name and Bill Catchings confront today's accepted business norms and present alternatives that work. Using their own company, Principled Technologies, as a case study, they make a compelling argument for a new approach to business: one in which everyone limits their greed.