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The theme at Davos this year was stakeholder capitalism, which can be defined as a system in which corporations are orientated to serve the interests of all their stakeholders: employees, customers, suppliers, communities and shareholders. The context was a sustainable world and the hypothesis was that, if corporations serve all their stakeholders, this will make a significant contribution to sustainability and, by extension, to a better world for all of us to live in, prosper and enjoy.

The debate immediately becomes competitive rather than collaborative, which undermines creativity. It becomes a stand-off between shareholder capitalism or maximising shareholder value (MSV), as championed by American economist Milton Friedman, who said: “The business of business is business.”..

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