The Business Roundtable supports increased government spending on education. Specifically, it further promotes science, technology, engineering and mathematics (STEM) K-12 education, with a focus on skills training for student loans and grants, and government-funded vocational training and retraining for college graduates.  Business Roundtable is a group of nearly 200 CEOs representing America`s largest companies. They advocate business-friendly policies and are now, it seems, trying to redefine the corporate mission. They will no longer simply prioritize the value they create for their shareholders. Instead, they made five commitments to “all” their stakeholders to show a new, more inclusive and sustainable face of business. More than $488 billion in revenue for small and medium-sized businesses In 2019, the Business Roundtable focused on international trade, specifically the USMCA, followed by government, immigration, tax, transportation and education issues.  The BRT declaration is a good start. This new discussion of the target is good and reflects what some major investors are saying.
But we need a much bigger shift towards circular business models based on renewable energy that value the long term, protect natural capital, and invest in human development and equality. This level of change is currently light years away from the BRT statement. I went back from an almost holiday news to a number of stories, both strange and important. The US has tried to buy Greenland (what?), the Amazon is burning, billionaire David Koch is dead, and the CEOs of 181 of the world`s largest companies – as part of the lobby group The Business Roundtable (BRT) – have said that the purpose of a company is not just to serve shareholders (their official position since 1997). but to “create value for all our stakeholders”. American companies play an important role in American society as engines of creativity. Innovation and economic opportunities. The long-term success of these companies and the U.S. economy depends on companies investing in the economic security of their employees and the communities in which they operate. From competitive wages and benefits to developing training programs to enrich the skills of students and adult workers, America`s leading employers are creating opportunities for Americans to secure well-paying jobs and build fulfilling careers. Without these additions, the statement is hollow, and pretending it is new and bold will only increase distrust of business. With them, companies can prove that they are really acting in the interests of all parties involved, not just their shareholders.
So what`s new in this latest announcement? What is bolder and bigger? Let`s face it: we desperately need transformative and disruptive change on a global scale. We not only need more identical business models, but also innovative and sustainable. We need companies that set scientific and contextual sustainability goals. We need courageous entrepreneurial action. And the best thing some of the biggest companies can offer is a plan that was considered innovative in the 1990s? It is in line with Apple`s announcement of a new portable cassette player. And let`s not pretend that it offers anything other than maximum shareholder value. This is not a bad thing in itself, but it is dishonest to say otherwise. Each of the five points is carefully calibrated to generate returns for shareholders. The Business Roundtable (BRT) is a non-profit organization based in Washington, D.C. whose members are CEOs of major U.S. corporations. Unlike the U.S.
Chamber of Commerce, whose members are entire companies, BRT members are exclusively CEOs. BRT promotes business-friendly public policies like NAFTA, while promoting broader policy initiatives like No Child Left Behind and opposing others like the Trump administration`s family separation policies. In 2019, BRT redefined its definition of a company`s purpose, putting the interests of employees, customers, suppliers and communities on an equal footing with shareholders. BRT members include Jeff Bezos of Amazon, Tim Cook of Apple and Mary Barra of General Motors.     Since the mid-1990s, the main strategic objectives of the Business Roundtable have shifted from defending the free market to broader, business-friendly government policies. In 2010, the Washington Post called President Barack Obama “the closest ally in business.” While the organization opposed many of the government`s tax and health care reform efforts, Business Roundtable supported many of Obama`s economic policies, including environmental energy subsidies, financial reforms to support mortgages, looser immigration restrictions, and government-funded job training programs.   Former US Secretary of Labor and UC Berkeley professor Robert Reich accused both corporate social responsibility and the Business Roundtable`s commitment of being a “fraud.” .