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We’re used to thinking about innovation in technology, in products or services, or even in management methods or business models. But in a recent article in strategy+business, Marjorie Kelly highlights a type of innovation that is less commonly discussed: innovation in corporate structure, ownership and governance.
Kelly, a senior associate with the Tellus Institute, suggests that some of the behaviors that helped lead to the financial crisis in 2008 are a result of the intense focus on short-term profits that characterizes many contemporary for-profit companies.