Ultimately, what might have the best chance of changing minds in the business world are examples of companies that have pursued the stakeholder model and flourished as a result. If Market Basket is an example of such a company—as the remarkable solidarity of its employees and customers suggests it is—then proof that the model works might lie in the impressive growth and annual revenues that the chain has managed to pull off despite spreading the wealth around to all those who play a part in generating it. As an institution, Market Basket matters in New England in a way that a company narrowly focused on pleasing its investors could never be, by making it possible for thousands of people to live more prosperous middle-class lives, and tens of thousands of other people to feed their families more easily. With that in mind, whoever ends up in control of Market Basket once the dust settles will have to decide how to run a company that has been carrying on its shoulders significantly more than a few bags of groceries.
Posted on: Sun, 03 Aug 2014 01:39:05 +0000
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