In chapter 18, I felt that I had a real world connection with the “Real World” section. This chapter was all about managing change, the world is changing rapidly and is we don’t keep up with it technologically and socially, we will be left in the dust. This section talks about how Amgen inc. took an unusual approach of asking shareholders what they thought of their compensation plan. It was the first of its kind, a 10 question, online survey which shareholders could participate in. This set trends for other firms in the industry to do the same.
I directly related to this in how John asked his students what they thought of the syllabus, and what changes they would make. In doing this, the students felt like they were valued and respected. No matter how small your roll is, it feels good to be a part of something and to contribute. It also makes the students accountable for their actions when they mess up. Just like it’s easy for you to complain about a president which you didn’t vote for, it’s easy for students to hate a syllabus which was thrown at them. However, if the students write the syllabus, there is not much they can complain about.
I did some additional research on shareholder involvement and found that it is now the norm to involve the shareholders to a certain extend. The biggest factor however, is how large the share. Someone who owns .002% of Nike doesn’t have as much say in the direction of the company as Michael Jordan or Tiger Woods. However, there are meeting, conferences and polls that any shareholder can participate in in many companies.