Immelt: ‘Role of CEO More Complicated Than Ever Before’

The video discusses the evolving responsibilities of companies, emphasizing the need for CEOs to balance social and shareholder interests. It critiques Milton Friedman's shareholder theory, highlighting the shift towards a more nuanced corporate role. The speaker reflects on globalization's impact on workforce management and stresses the importance of adapting business strategies, especially in light of COVID-19's challenges.

What is a key factor that companies must consider in today's world, according to the speaker?

• Understanding their role in the global context

• Maximizing shareholder profits

• Focusing solely on product innovation

• Reducing employee benefits

What is a necessary but not sufficient condition for running a company, according to the speaker?

• Focusing solely on social context

• Executing business operations effectively

• Prioritizing shareholder returns

• Expanding into new markets

How does the speaker view the legacy of Milton Friedman's philosophy?

• It is still the best approach for modern companies.

• It has had both positive and negative impacts.

• It has led to a balanced approach to corporate responsibilities.

• It has been entirely beneficial for society.

What change in corporate strategy does the speaker highlight from the past?

• Focusing on digital transformation

• Reducing environmental impact

• Outsourcing to countries with lower wages

• Increasing local manufacturing

What does the speaker suggest about companies with sole source manufacturing in China during COVID?

• They were well-prepared for the pandemic.

• They had a low-risk strategy.

• They missed important risk indicators.

• They benefited from the situation.