Working managements – Urabandai SS Tue, 05 Jul 2022 01:57:48 +0000 en-US hourly 1 Working managements – Urabandai SS 32 32 ICRISAT-AGRA collaborate on value chain development of drought-tolerant crops – World Tue, 05 Jul 2022 01:57:48 +0000

ICRISAT and the Alliance for a Green Revolution in Africa (AGRA) have announced a new partnership that synergizes their strengths. ICRISAT’s improved crop varieties and value chain development technology will be leveraged alongside AGRA’s extensive seed systems networks to fill gaps in market access for early maturing varieties , high-yielding and nutritious drought-tolerant crops in Africa.

Speaking at the AGRA-ICRISAT partnership meeting, Dr. George Bigirwa, Assistant Vice President for Program Development and Innovations, AGRA, noted that the partnership will focus on four areas:

  1. Climate change: ICRISAT is working on Drought Tolerant Crops (DTC) such as sorghum, pearl millet, finger millet and pigeon pea which are important crops to cope with climate change;
  2. Diversification: AGRA plans to integrate TTTs into their value chains;
  3. Nutrition: This is a daunting challenge in most countries given the civil wars, conflicts and global economic downturn caused by the COVID-19 pandemic. The situation calls for the incorporation of robust DTCs.
  4. Gender inclusion: Some of the crops under ICRISAT’s mandate play an important role in achieving gender inclusion, especially for women who consider TTTs as their main source of income and nutrition.​ ​ ​

Dr. Arvind Kumar, Deputy Director General-Research, ICRISAT, reiterated Dr. Bigirwa’s statement on the four areas of partnership that will be strengthened through knowledge and capacity development, technology dissemination, land systems intensification drylands, natural resource management, seed systems and value chain development. , trade linkages, precision and digital agricultural technologies and agricultural mechanization. “The visit of ICRISAT’s Director General, Dr. Jacqueline Hughes, to AGRA’s office in Nairobi indicates the institute’s desire to work closely with AGRA,” said Dr. Kumar.

During the discussion, AGRA presented its strategic plan which emphasizes climate adaptation and resilience to help farmers cope with climate change, and inclusivity so that women and youth can benefit from agricultural development. They also highlighted that their areas of work include seed systems, sustainable agriculture, and inclusive markets and trade.

ICRISAT highlighted its focus areas in accelerated crop improvement (breeding modernization and cultivar improvement); Nutrition-sensitive integrated initiatives (biofortification, smart food initiative, food processing techniques and food security); Climate change adaptation and mitigation (climate-smart options, timely weather information and resilient varieties); reframe agro-food research systems (market linkages, mechanization and value addition); Expand scaling-up approaches through agribusiness and agri-tech entrepreneurship; and Scaling up landscapes and community livelihoods.

In addition, ICRISAT has invested in knowledge and capacity development through an Inclusive Learning Academy for Drylands (iLEAD) model and has strategically positioned itself for South-South collaboration in agricultural technologies, digital agriculture for the transformation of food systems, mechanization, agro-industry and water and soil management.

The team agreed to initiate the collaboration by disseminating available technologies to farmers as they work on other opportunities. Technologies include improved varieties developed by ICRISAT, aflatoxin management, mechanization, reduction of post-harvest losses, capacity building and targeting of DTCs in crop network groups.

The team also plans to leverage Kenya’s Ministry of Agriculture’s ongoing work for millers to mix maize meal with crops like sorghum, millet and sweet potato, which will ensure sufficient food production. , will promote the production and marketing of local cereals as well as DTC, to improve farmers’ incomes. The initiative is part of the president’s Big 4 agenda, aimed at contributing to “100% food and nutrition security by 2022”. This is also in line with the 2012 World Declaration on Nutrition which Kenya endorsed by passing mandatory legislation on food fortification, intended to reduce the prevalence of vitamin and mineral deficiencies.

With the UN declaring 2023 the International Year of Millet, the two institutions have agreed to work with national governments in Africa to raise awareness about millet.

Dockers’ labor contract expires at vital link in US supply chain Sun, 03 Jul 2022 10:00:28 +0000

Jimmy Monti, a stevedore at the sprawling Los Angeles-Long Beach port complex, has seen economic booms and busts in his 24 years on the job. But the third-generation docker had never experienced anything like it in the past two years.

The onset of the pandemic in 2020 virtually paralyzed port activity. But in the summer of 2020, “the expedition reopened, and it was crazy, like a water tap that had dripped all of a sudden was running full blast.”

The increase has resulted in record amounts of cargo – 10.7 million containers passing through the Port of Los Angeles last year – as Americans shopped during the pandemic.

It has also led to unprecedented congestion, with more than 100 container ships anchored at sea in January as they waited for a quay to be unloaded. The back-up at ports, which handle about 40% of US imports, has become a symbol of supply chain issues that have contributed to higher inflation.

Now Monti and 22,000 other US West Coast port workers are in contract negotiations with the Pacific Maritime Association, a group representing global shipping lines and terminal operators, such as Maersk, Cosco Shipping Lines and Evergreen Marine. . Stevedores are seeking a 10% wage increase and protection from automation in exchange for extended dock hours, according to academics who follow the industry. The workers say they deserve more money given their performance over the past two years.

“There was a lot of pressure to come to work day and night, to work faster and harder to deal with the overcrowding and congestion at the terminals,” Monti said.

Monti and his colleagues, members of the International Longshore and Warehouse Union, say shipping companies can afford to be generous. With freight rates hitting record highs, companies including Maersk made total profits of more than $190 billion in 2021, more than 15 times their 2019 levels. full-time jobs are good, ranging from over $100,000 to over $130,000 a year, according to a recent study by the Economic Roundtable. Clerks, the highest paid group, earn more.

The contract expired on Friday, but both parties agreed to keep talking. “Although there is no contract extension, cargo will continue to move and normal operations will continue at the ports until an agreement can be reached,” the PMA and the ILWU in a joint statement, adding that they were “aware of the need to finalize a new coastal contract as soon as possible”.

Contract disputes between the ILWU and the PMA have disrupted the flow of goods in the past. In 2002, the George W Bush administration had to intervene after dockworkers were locked out by the PMA, costing the US economy an estimated $1 billion a day. In 2015, when the current deal was signed, the Obama administration stepped in to end a year-long contract fight.

While both sides say they want to avoid anything that would make supply chain problems worse, Jake Wilson, a sociology professor at California State University Long Beach, notes that work has been more assertive since the start of the pandemic. There have recently been high-profile union organizing efforts at Starbucks, Apple and Amazon.

“Over the past year and a half, we’ve seen a wave of strikes across the country,” Wilson said. “I really think this is a key moment for [dockworkers] to stick to their guns and make sure they protect those jobs.

Any slowdown in ports would be a blow to the Biden administration as it struggles to contain the highest rate of inflation in 40 years. Biden has worked to ease supply chain bottlenecks, including securing commitments to expand port hours.

Last month, the US president touted port improvements during a visit to Los Angeles, noting that there were 40% fewer shipping containers stacked at the docks compared to last fall. He also attacked shipping companies for raising freight rates during the pandemic.

The automation of high-paying jobs such as crane operator will likely be the focus of the remaining negotiations. Many Asian ports that ship to the United States are highly automated and operate nonstop, unlike the ports of Los Angeles and Long Beach, which operate six days a week.

The ILWU argues that automation has already cost hundreds of port jobs, but shipping companies say it creates jobs by allowing ports to handle more cargo.

Christopher Tang, a professor at the UCLA Anderson School of Management, says the ILWU is seeking to block further automation at the Ports of Los Angeles, which already have two automated terminals.

“If you look at the ports of Rotterdam, Shanghai, the Middle East and Singapore, most of the cranes are automated,” he said. “Here we still use humans to do that, which is extremely inefficient and archaic. It’s really useless. It’s only for job protection.

Asset Management Vs. Wealth Management – ​​Forbes Advisor Fri, 01 Jul 2022 17:14:18 +0000 Editorial Note: We earn a commission on partner links on Forbes Advisor. Commissions do not affect the opinions or ratings of our editors.

It’s safe to say that from time to time, everyone could use some help managing their money. But while many people can get by with limited help, some can benefit from a hands-on approach.

People with high net worth – in the millions or approaching it – may want to work with an asset or wealth management company. We’ll help you determine the type of professional help that’s right for you.

What is Asset Management?

Asset management is a service whose objective is to make your money grow.

An asset manager focuses on your investments and may be called an investment adviser, financial adviser, registered investment adviser (RIA), robo-advisor, or even an investment broker.

Your asset manager may work alone or as part of a larger asset management firm. You don’t have to be rich to work with an asset manager, you just need to want to start or optimize your investment portfolio.

An asset manager may or may not be a fiduciary – a financial professional bound to keep their client’s best interests in mind – so be sure to check before signing up.

What is Wealth Management?

A wealth manager is a financial advisor who specializes in working with wealthy clients. They also offer advice on a variety of financial aspects beyond your physical assets. As your wealth grows, your finances become more complex, this is where a wealth manager can bring his tailor-made expertise.

Wealth management can focus on saving for retirement and tax planning, as well as insurance protection, estate planning and trust management. These professionals can also offer more services than the typical financial advisor to meet the complex needs of their clients.

A wealth manager is likely to be a fiduciary, but be sure to ask before signing.

Should I choose asset management or wealth management?

Wealth management companies typically work with wealthy individuals or families. You probably don’t need wealth management unless you already have a significant amount of money in investments or are ready to invest a large sum.

A wealth management service may require $250,000; $500,000; or at least $1 million in investments to become a client. Minimums may vary by wealth management firm and service specialty.

If you have a lower net worth but want to grow your money, it may be worth considering an asset manager rather than a wealth manager.

Choose an asset manager

When choosing an asset manager, check the manager or platform credentials (if using a robo-advisor). It is important to determine whether a manager applies a fitness standard or a fiduciary standard, the latter method being the most beneficial to you.

Beyond that, cost may be your most important factor. Some investors may save by using passive management options, while others may want a more personalized approach that could cost more.

Choose a wealth manager

Not all wealth management companies have the same strategy for every client. Depending on your situation, you may want to focus on growing your investments, optimizing your tax planning, or creating a succession plan if you own a business. These are all valid strategies, but your wealth manager’s expertise and tactics should match your goals and concerns.

If you’re considering working with a wealth manager, you’ll want to ask many of the same questions you would ask before hiring a financial professional. You may also want to find out about the person or firm’s wealth management experience and the exact services offered by their practice.

As with the decision to hire a financial expert, be sure to check professional references. You can view a person’s Certified Financial Planner (CFP) credentials through the CFP Council. Or you can use the Financial Industry Regulatory Authority (FINRA) BrokerCheck to find advisers registered with the United States Securities and Exchange Commission (SEC).

The XY Planning Network also offers the possibility of searching for financial advisers specializing in wealth management.

How much does it cost to hire an asset manager vs a wealth manager?

Asset management costs

The costs of hiring an asset manager can vary depending on the type of relationship you want. If you use a robo-advisor or work with a wealth manager who charges passive management fees for portfolios that rely heavily on index funds, you can expect to pay between 0.25% and 0.50% the value of your portfolio per year. These fees are often described as a percentage of assets under management (AUM).

If you choose active investment management, your fees will depend on who you hire and the investments in your portfolio, but you can generally expect to pay 1% of your portfolio in annual fees.

Additional fees, such as account fees ranging from $25 to $100 per year or brokerage fees of up to $50 per transaction, may apply.

Wealth management fees

Since a wealth manager manages a broader view of your finances, you can pay them a flat fee by the hour, year, or by type of service. Their fees may also depend on how much of your money they manage, similar to the percentages an asset management service would charge.

Are you looking for a financial adviser?

Get started with a financial advisor with Personal Capital to build your financial strategy

Senior Program Officer – United Kingdom of Great Britain and Northern Ireland Wed, 29 Jun 2022 10:40:23 +0000

Senior Programs Officer

Hybrid work (at least 2-3 days a week in the office)

£33,000 per year

Permanent full time

Who we are

Peace Direct is an international charity with a big mission: to work with local people to end violence and build lasting peace in some of the world’s most conflict-affected countries. More than that, we want to change the international system so that it better supports the role local people and communities play in preventing violence and building and sustaining peace.

The role

We are looking for a Senior Programs Officer to join our international programs and research team. This permanent The position is based in our small, friendly London office and is responsible for leading relationships with some of our local peacebuilding partners, managing a portfolio of projects and helping to develop new work. The role is varied, sometimes demanding and (we think!) very rewarding.

The deadline for submitting the CV and cover letter is Wednesday July 6 at 6 p.m. Only shortlisted candidates will be invited to complete an application form.

Stage one interviews will take place during the weeks beginning July 11 and July 18.

Shortlisted candidates will be invited for a second interview (which may take place in person at our London office).


Peace Direct works hard to ensure its staff have a good work-life balance and feel valued. Some of the benefits we enjoy include:

  • 25 days of annual leave excluding office closure between Christmas and New Year, which counts as additional paid leave.
  • Stakeholder pension with Peace Direct contributing 6%
  • An interest-free subscription loan for the purchase of a commuter subscription
  • Flexible working hours
  • Friday afternoon free to promote staff well-being
  • Improved pay for maternity and adoption leave (12 weeks full pay, 12 weeks half pay)
  • Training budget available for all staff (we have achieved Investors in People accreditation and are committed to developing and supporting all staff).
  • A warm and friendly work environment!

The role involves occasional overseas travel to Peace Direct partner countries (on average 4 times per year, Covid restrictions permitting), sometimes to remote and challenging locations. You will have the chance to leverage the strong relationships we have developed with our current and potential partners and funders, identify new opportunities and advance our mission, and navigate a rapidly changing environment.

About you:

To join us, you will need

  • At least four years of relevant program support experience
  • Experience managing large complex projects
  • Experience working with partner organizations in a responsible, respectful and mutually responsible manner
  • Excellent budgeting and financial management skills
  • Strong interpersonal skills with the ability to relate to people from diverse backgrounds, cultures and influences
  • A passion for peacebuilding and a commitment to supporting local peacemakers
  • A commitment to shift power in the international aid system in favor of local organizations and communities
  • In addition to fluent English, the ability to work in Arabic, Swahili or Burmese is desirable

Finally, we are looking for someone who is creative, calm and adaptable even in the most difficult circumstances. The work we support around the world is based in some of the most volatile contexts, and things often don’t go as planned. We are looking for people who thrive in these situations.

Still interested? Take a look at the job description to see full details about the role and if it matches your skills and experience. This position is only open to those who are eligible to work in the UK.

Peace Direct strives to be a diverse and inclusive employer, with equal opportunity regardless of personal identity, and we are committed to improving our systems and ways of working to support this, including creating a group Diversity, Equality and Inclusion (DEI) Task Force, DEI Strategy and Recruitment Guidelines. We strongly encourage people from disadvantaged and underrepresented backgrounds to apply, including Black, Asian and Minority Ethnic (BAME), LGBTQ+, people with disabilities and people with mental health issues.

Peace Direct is committed to preventing and protecting all people from harm in their interactions with us. We expect everyone who acts on our behalf to respect our do no harm approach and to subscribe to our safeguard policy.

How to register

The deadline for submitting the CV and cover letter is Wednesday July 6 at 6 p.m. Please send it to

Only shortlisted candidates will be invited to complete an application form.

City of Mississauga welcomes new Director of Parks, Forestry and Environment – ​​City of Mississauga Mon, 27 Jun 2022 19:04:21 +0000

The City of Mississauga is pleased to announce the selection of Nadia Paladino as the new Director of Parks, Forestry and Environment, effective July 25, 2022; replacing former director Jodi Robillos, now the City’s Community Services Commissioner.

“I am very pleased to welcome Nadia to the City of Mississauga and to this important leadership role,” said Jodi Robillos, Community Services Commissioner. “’Nadia brings with her extensive public and private sector experience. This role will allow him to apply his knowledge and direct experience in overseeing parks, forestry and horticulture operations in combination with his skills in strategic thinking, change management and stakeholder engagement. stakeholders to seamlessly execute the programs, new initiatives and core functions of this portfolio.

In her role as Director, Paladino will report to the Commissioner of Community Services and oversee park development, park planning, park operations, forestry and the environment, which are collectively responsible for implementing the community plan. action on climate change in the city; plan the main park, acquire and ensure that the City has adequate green spaces and parks and ensure the ongoing upkeep and upkeep of over 2,988 hectares (7,384 acres) of parks and 327 kilometers of trails.

“This is an exciting opportunity and I look forward to working with the City of Mississauga,” said Nadia Paladino. “With the City’s vision and approach to green spaces, parks, tree preservation, naturalization, and a strong commitment to climate change and sustainability on many fronts, I know Mississauga is the place to be. where to put down roots. I look forward to working with the mayor and members of council and the city’s leadership team to drive innovative “green” sustainable change while continuing to deliver the experiences, programs and services that residents expect in their city. »

Prior to joining the City of Mississauga, Paladino served as Director of Parks, Forestry and Horticulture Operations at the City of Vaughan, where she oversaw several divisions including Parks and horticulture; urban forestry; Quality & Risk; Administrative Services and Business Services and Contract Management. Prior to this, Paladino oversaw special projects within the City of Vaughan Public Works. She has worked in the healthcare industry at St. Joseph’s Health Center and St. Michael’s Hospital, leading various projects, strategic and quality initiatives focused on efficiency in service delivery.

Paladino holds a Master of Engineering and a Bachelor of Applied Science in Industrial Engineering from the University of Toronto. She also holds a Masters in Public Administration from the University of Western Ontario and certifications in Prosci, Lean, 6-Sigma Change Management and as a Project Management Professional.

Nadia Paladin
Director of Parks, Forests and Environment

Media Contact:
City of Mississauga Media Relations
905-615-3200 ext. 5232
TTY: 905-896-5151

DNB Asset Management AS increases its stake in Bath & Body Works, Inc. (NYSE: BBWI) Sat, 25 Jun 2022 08:22:12 +0000

DNB Asset Management AS increased its stake in Bath & Body Works, Inc. (NYSE: BBWIGet a rating) by 6.3% in the first quarter, according to its latest 13F filing with the Securities & Exchange Commission. The institutional investor held 46,568 shares of the company after purchasing an additional 2,760 shares during the quarter. DNB Asset Management AS’s holdings in Bath & Body Works were worth $2,226,000 at the end of the last quarter.

A number of other hedge funds have also recently added or reduced their stakes in the stock. Dark Forest Capital Management LP bought a new position in Bath & Body Works in Q3 worth around $70,000. Cubist Systematic Strategies LLC bought a new position in shares of Bath & Body Works in the third quarter worth $1,457,000. MML Investors Services LLC acquired a new position in shares of Bath & Body Works during Q3 worth $846,000. LPL Financial LLC bought a new stake in shares of Bath & Body Works in Q3 for a value of approximately $6,300,000. Finally, Wellington Management Group LLP acquired a new stake in Bath & Body Works in Q3 valued at approximately $695,000. 97.11% of the shares are currently held by hedge funds and other institutional investors.

Several brokerages have published reports on BBWI. Credit Suisse Group cut its price target on Bath & Body Works shares from $64.00 to $49.00 and set a “neutral” rating on the stock in a Thursday, May 19 report. B. Riley lowered his target price on Bath & Body Works from $76.00 to $67.00 and set a “buy” rating on the stock in a Friday May 20 report. Citigroup cut its price target on Bath & Body Works from $87.00 to $54.00 and set a “buy” rating for the company in a Monday, May 23 report. BMO Capital Markets cut its price target on Bath & Body Works from $83.00 to $65.00 in a Thursday, May 19 research report. Finally, JPMorgan Chase & Co. lowered its price target on Bath & Body Works from $81.00 to $67.00 in a Monday, May 16 research report. Two equity research analysts gave the stock a hold rating and seventeen gave the stock a buy rating. Based on data from, Bath & Body Works currently has a consensus rating of “Moderate Buy” and a consensus target price of $66.47.

In other Bath & Body Works news, insider Thomas E. Mazurek sold 16,338 shares of Bath & Body Works in a trade that took place on Friday, May 27. The shares were sold at an average price of $42.25, for a total transaction of $690,280.50. Following the transaction, the insider now directly owns 11,225 shares of the company, valued at $474,256.25. The sale was disclosed in an SEC filing, available at this link. Also, CFO Wendy C.Arlin sold 6,000 shares of the company in a transaction that took place on Tuesday, April 19. The stock was sold at an average price of $55.00, for a total transaction of $330,000.00. Following the sale, the CFO now owns 98,888 shares of the company, valued at $5,438,840. Disclosure of this sale can be found here. Insiders own 0.37% of the shares of the company.

NYSE: BBWI opened at $30.95 on Friday. The company has a market capitalization of $7.08 billion, a P/E ratio of 6.74, a P/E/G ratio of 0.90 and a beta of 1.58. The company’s 50-day moving average is $43.50 and its two-hundred-day moving average is $52.00. Bath & Body Works, Inc. has a fifty-two week minimum of $28.89 and a fifty-two week maximum of $82.00.

Bath and body care (NYSE: BBWIGet a rating) last reported results on Wednesday, May 18. The company reported earnings per share of $0.64 for the quarter, beating the consensus estimate of $0.51 by $0.13. Bath & Body Works had a negative return on equity of 69.03% and a net margin of 15.41%. The company posted revenue of $1.45 billion for the quarter, compared to analysts’ estimates of $1.43 billion. As a group, research analysts expect Bath & Body Works, Inc. to post earnings per share of $4.01 for the current year.

The company also recently disclosed a quarterly dividend, which was paid on Friday, June 17. Shareholders of record on Friday, June 3 received a dividend of $0.20. This represents an annualized dividend of $0.80 and a dividend yield of 2.58%. The ex-dividend date was Thursday, June 2. Bath & Body Works’ dividend payout ratio is currently 17.43%.

About Bath & Body Works (Get a rating)

Bath & Body Works, Inc operates a specialty retailer of home fragrances, body care, soaps and sanitizers. The Company sells its products under Bath & Body Works, White Barn and other brands through specialty retail stores and websites located in the United States and Canada, as well as international stores operated by partners. under franchise, license and wholesale agreements. .

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Want to see which other hedge funds hold BBWI? Visit to get the latest 13F filings and insider trading for Bath & Body Works, Inc. (NYSE: BBWIGet a rating).

Institutional ownership by quarter for Bath & Body Works (NYSE: BBWI)

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Governor Lamont Orders Waiver of New State Agency Credit and Debit Card Service Fees Fri, 24 Jun 2022 11:27:14 +0000

Press Releases


Governor Lamont Orders Waiver of New State Agency Credit and Debit Card Service Fees

(HARTFORD, CT) – Governor Ned Lamont today announced that he is directing Office of Policy and Management Secretary Jeffrey Beckham to waive service fees that Connecticut state agencies are charged. required to begin collecting on credit, debit and charge card transactions under state law effective July 1, 2022.

Waiver of this service fee will save Connecticut residents and businesses approximately $6 million in fiscal year 2023, which begins next week.

“Each of us is feeling the pressure of inflation, and I am committed to reducing costs for businesses and residents where permitted by law,” Governor Lamont said. “By waiving these transaction fees, businesses and residents will save approximately $6 million. Our administration will work with the General Assembly to review all of these fees that are implemented by state law, and we will review the agreements we have with credit card companies as we continue to streamline and modernize the state government.

Below Public Law 21-2 (June Special Session), state agencies that accept credit, debit, or charge card payments are required to charge service fees to customers who pay by these methods beginning July 1, 2022. Prior to this legislation, some state agencies State were already passing these costs on to customers. , but many government agencies had not yet adopted this practice. This service fee requirement was intended to recover the costs incurred by the state in accepting these types of payments and would have imposed new fees on customers entering into transactions with state agencies that had not previously charged fees.

This same law also includes a provision allowing the Secretary of the Office of Policy and Management to waive these fees. Governor Lamont directs Secretary Beckham to waive new fees until the end of fiscal year 2023.

Among the agency fees impacted are those charged by the Department of Motor Vehicles, the Department of Consumer Protection, the Department of Energy and Environmental Protection, and the Department of Public Health.

Twitter: @GouvNedLamont

Facebook: Office of Governor Ned Lamont

Stakeholder capitalism is not working as intended Wed, 22 Jun 2022 19:27:53 +0000
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Wouldn’t it be nice if corporations cared less about profits and more about social good? It’s popular to think so. Participatory capitalism is in fashion. Shareholder capitalism is not.

Many top business leaders and academics now condemn the idea that Milton Friedman laid out in a famous 1970 New York Times Magazine essay:

a corporate officer is an employee of the owners of the business. He is directly responsible to his employers. This responsibility is to conduct the business in accordance with their wishes, which will generally be to make the most money possible while conforming to the basic rules of society, both those enshrined in law and those embodied in ethical custom. .

If only this perverse idea of ​​maximizing profits had not arisen, some seem to think, we would be living in a progressive utopia of high wages, racial harmony, economic equality and environmental purity.

In 2019, the Business Roundtable repudiated the Friedman Doctrine, changing its “principles of corporate governance” to adopt the goal of managing businesses for the “benefit of all stakeholders – customers, employees, suppliers, communities and shareholders” . He did not specify how the companies would resolve disputes between constituencies.

The usual answer is that conflicts are illusory. Do good and you will do good.

“In today’s globally interconnected world, a company must create value for all of its stakeholders and be valued by them in order to deliver long-term value to its shareholders,” wrote BlackRock’s Larry Fink in his 2022 letter to CEOs, reiterating the message that is making headlines in 2018: “To thrive over time, every company must not only deliver financial performance, but also show how the society.

Of course, if striving to please stakeholders and creating economic value always went hand in hand, stakeholder capitalism and shareholder capitalism would be the same. But life is not that simple.

Contrary to what you may have heard, letting stakeholders take precedence over business objectives is anything but pleasant. Stakeholder capitalism is not just a temptation for managers to pursue their pet interests. It’s a prescription for culture wars, political backlash, managerial paralysis, and HR nightmares.

Any effective business must take into account the interests of employees, suppliers, customers and other stakeholders. But not everyone wants the same thing, and sometimes organizations have to compromise between goals that everyone sees as good. The question is what to do when faced with a conflict. Without an eye to maximizing value, it’s all too easy for leaders to dissipate company resources in pursuit of self-interest.

The great value of the Friedman Doctrine is that it sets a consistent standard for making compromises. Maximizing Economic Value tells you to “spend an extra dollar in any constituency provided that the long-term value added to the business of that spending is a dollar or more,” as the Harvard Business School economist Michael Jensen in a 2010 article.

Stakeholder theory, on the other hand, tells you nothing. It assumes that you make everyone happy. And, as Jensen wrote, “Without the clarity of mission provided by a single-value objective function, companies that embrace stakeholder theory will experience managerial confusion, conflict, inefficiency, and possibly even a competitive failure”. Jensen’s article is the best articulation of why what he calls “enlightened value maximization” is essential.

But neither he nor Friedman fully imagined the chaos that might ensue without it.

Watch the backlash when Walt Disney Co. tried to appease voice workers by opposing Florida legislation banning discussing sexual orientation with young children in schools. The political pushback – like the original protests – reflected a sense of betrayal by a beloved company whose fans see their dreams and values ​​reflected in its characters and stories.

Appeasing one group of stakeholders alienated others. It was not difficult for conservatives to find opposing voices within the company. Disney has nearly 200,000 employees and countless customers. All are stakeholders and represent every viewpoint imaginable.

By focusing on business goals, by contrast, Netflix, despite other challenges, has weathered its own controversies better, from the conservative uproar over the French film “Cuties” to more recent protests over Dave Chappelle’s jokes about women. trans. To clarify expectations, the company revised its cultural guidelines for employees to explicitly say, “As employees, we support the principle that Netflix provides a diversity of stories, even if we find some titles contrary to our own personal values.

Stakeholder capitalism implicitly assumes a cultural consensus identical to what its proponents believe. It dates back to the mid-twentieth century, when big business in America enjoyed little competition, mass media marginalized all but a narrow range of political, religious, and social views, and hierarchy and security dominated workers’ expectations. He claims that social media, Slack channels and “going all out” don’t exist.

For a purer version of what stakeholder-driven management can do, forget about profits and political disagreements. Look at the turmoil rocking all sorts of left-leaning nonprofits. In a report published in The Intercept, Ryan Grim details why Washington D.C.-based groups have spent the past few years engaging in “staggering and protracted fights between competing factions of their organizations, most often collapsing between personnel and management. lines.”

Instead of fueling a wave of public support to reinvigorate the [Democratic] ambitious program of the party, most of the organizations supported by the foundation which constitute the backbone of the ideological infrastructure of the party were still spending their time locked in virtual retreats, slack wars and healing sessions, struggling with tensions about hierarchy, patriarchy, race, gender, and power….

Grim quotes the executive director of one such group anonymously:

“A lot of employees who work for me expect the organization to be everything: a movement, OK, get out the vote, OK, healing, OK, take care of yourself when you’re sick, OK. is all,” said a general manager. “Can you get your love and healing back home, please? But I can’t say that, they would crucify me.

Despite their commitments to making the world a better place – and general agreement on what that means – trying to please every stakeholder is wreaking such widespread organizational havoc that the leader of one group, also quoted anonymously, told Grim “you couldn’t devise a better right-wing plot to cripple progressive leaders.

The problem is not that the groups are on the left. This is because their missions and their decisions are constantly the subject of internal debate. New attitudes and forms of communication have destroyed the legitimacy of their managerial hierarchies.(1)

Compared to mission-driven nonprofits, companies that focus on creating economic value are fortunate to have a clear definition of success. If they want to make the world a better place, they must strive to uphold that standard.

More from Bloomberg Opinion:

• Mickey Mouse is the canary of progressivism in a coal mine: Adrian Wooldridge

• Young Americans aren’t as awake as you think: Adrian Wooldridge

• Disney is the latest victim of the Culture Wars crossfire: Adrian Wooldridge

(1) For a deeper dive into this phenomenon, drawing on the anthropological studies of Mary Douglas, see my Substack essay “Purity, Sorcery, and Cancel Culture”.

This column does not necessarily reflect the opinion of the Editorial Board or of Bloomberg LP and its owners.

Virginia Postrel is a Bloomberg Opinion columnist. She is a visiting scholar at the Smith Institute for Political Economy and Philosophy at Chapman University and author, most recently, of “The Fabric of Civilization: How Textiles Made the World”.

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]]> Work order management tools market – Major tech giants are in vogue again – San Juan Independent Mon, 20 Jun 2022 15:27:51 +0000

“Work order management tools market” study by “» Provides details on market dynamics affecting the Work Order Management Tools market, market scope, market segmentation, and overlays on major Work Order Management Tools market players, highlighting favorable competitive landscape and prevailing trends over the years.

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Work order management tools Companies mentioned: CMMS eMaint, Maintenance Connection, Hippo CMMS, Facilities Management eXpress, MPulse, UpKeep, Fiix, IBM

Segment by Type– Cloud-Based– On-PremiseSegment by Application– SMB– Large Enterprise

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