Marc Benioff: CEOs won't keep jobs 'very long' if they don't adopt a new approach to capitalism

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Marc Benioff: CEOs won't keep jobs 'very long' if they don't adopt a new approach to capitalism
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'This is how to have a company that customers want to do business with, that attracts employees, that develops partnerships, that integrates local communities, that saves the planet,' Benioff argues.

"For CEOs who only focus on shareholders, let them be warned, they will not be CEOs very long," Benioff said, promoting "Trailblazer," the new book he co-authored with Salesforce executive Monica Langley.

Instead, the billionaire entrepreneur and philanthropist said CEOs must embrace a wider perspective that also includes the well-being of "stakeholders" — such as employees, public schools, people who are homeless, and communities writ large. "This is how to make a great company," said the co-CEO and chairman of Salesforce. "This is how to have a company that customers want to do business with, that attracts employees, that develops partnerships, that integrates local communities, that saves the planet.""Look at our financial return since we went public, right here in 2004," he said, sitting on the"Look at how we rank against everyone else over the same 15-year period.

Over that same time, Benioff said Salesforce has given $300 million in grants and its employees have volunteered over four million hours of their time. He added that 40,000 nonprofits and nongovernmental organizations are using Salesforce's customer relationship management software for free. "The homeless are a stakeholder for me, that's why I was fighting for Proposition C, a tax on our self, because we have to deal with the homeless situation in San Francisco," Benioff added. "If, as the largest employer in San Francisco, I'm not focused on that, if they aren't one of my key stakeholders, then what is?"

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