3 ms·
Almost all companies' overwhelming priority is to increase the wealth of their owners and shareholders. That is often diametrically opposed to benefiting custom
by altacc 7y ago
Almost all companies' overwhelming priority is to increase the wealth of their owners and shareholders. That is often diametrically opposed to benefiting customers. Unfortunately too many people have only attended Economics 101, which insists that the way for a company to be successful is to be the best for the market. Economics 101 fails to be evidence based, or realise that the dominant market is not a company's customers, it's the company ownership.
- smsm42 7y ago> Economics 101, which insists that the way for a company to be successful is to be the best for the market No it doesn't. I don't know which Economic 101 you had, but you may want to ask for a refund on the money you paid for it. Economics says nothing of the sort. For a company to be successful, its services should find willing consumers. > the dominant market is not a company's customers, it's the company ownership. Can somebody translate this to English for me? I recognize all the words, but I can't make any sense of them being arranged this way. What does it mean "dominant market is the company ownership"? It just doesn't compute.
- lxmorj 7y agoI believe he means: they aren’t in competition for customers. They are in competition for stockholders. Stockholders exist in a true competitive marketplace where AT&T must provide value to get their business. This is strictly not the case for most of AT&Ts customer-facing business. That exists in an oligopoly that appears to collude on pricing and (lack of) service.
- smsm42 7y agoAs an ex-client of AT&T and now client of a set of different providers, that has not been my experience - both prices and service levels vary quite significantly.