It's corporate overreach that has led to nationalist, populist, and anti-globalist movements.
Jean-Dominique Senard, the departing CEO of Michelin and incoming chair of Renault and of the Renault–Nissan–Mitsubishi alliance, suggests that the prevailing concept of corporate purpose needs an update. Image via Michelin
Jean-Dominique Senard believes that companies need to change how they define their raison d’être. “Responsible capitalism, as he sees it, is a necessary remedy for the kind of corporate overreach that has led to nationalist, populist, and anti-globalist movements. Without a more earnest effort by major companies and investors to broaden prosperity and quality of life, Senard warns, there will be more backlash against free enterprise, more authoritarian governments, more arbitrary regulation of companies and markets, and ever more stringent restrictions on free trade.”
Article: Rolling Toward Responsible Capitalism