Someone sent me a link to this Forbes article about The Gospel According to Wells Fargo
There’s some good stuff in it, but my favorite has to be this:
We believe shareholders come last. If we do what’s right for our team members, customers and communities, then—and only then—will our shareholders see us as a great investment.
More and more companies subscribe to the same philosophy and have realized that they make more money and serve their investors better by putting investors last.
Where is your evidence that “more and more companies subscribe to the same philosophy…” I have seen anecdotes, most of which are in the category of “exception proving the rule.” Is there any study or analysis that companies are focusing on long-term strategies to improve employee morale and customer satisfaction at the expense of short-term stock appreciation? I think you are engaging in wishful thinking.
What the article also says is that the mission statement of Well Fargo comprises 37 pages. That would go against what Jim Collins wrote in Good to Great and Built to Last. And also against common sense.
It is too much, why not keep the mission statement simple. I think it would also be easier for employees and keep them happier.
Wow. Now that’s a powerful business model.
That is completely insane: it is exactly the other way around. Do you agree with this snippet?
How refreshing to learn that companies are starting to realise that the old methods are not necessarily the best. Positive experiences give positive results.
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