At the core of the concept of “Leading With Purpose” is meeting a need that makes the world a better place. For many believers, that means a long-term commitment. But that notion challenges the conventional wisdom that the primary mission of corporations is to maximize profits for shareholders which is tied to the short-term performance of stock prices.
In this segment, three CEOs talk with Fortune’s Susie Gharib about the challenges of short-term versus long-term thinking. The interviews were conducted in partnership with The Aspen Institute Business and Society Program (https://www.aspeninstitute.org/programs/business-and-society-program/purpose-of-the-corporation/).
The CEOs of TIAA, Duke Energy, and startup Blue Apron make a case as to why a long term commitment toward making a positive difference in the lives of their company’s employees, their communities and the world, is good, smart business. Blue Apron’s Matt Salzberg summed it up this way: “Fundamentally, a business that isn’t doing good for the world, will not be successful over the long run. It’s a very short-term minded orientation to say ‘Hey, what I care about is dollars tomorrow, not the long-term viability of my business.’”