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Pearlstein's How Wall Street Bent Steel

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Words 287
Pages 2
Timken experience in “How Wall Street Bent Steel” illustrates that the Pearlstein’s claim that “the cult of shareholder value wrecked American business”. In the corporate world, companies run with two main objectives including the making of profits and maximizing shareholder’s wealth. This are the norms of business. However, Pearlstein thinks in different way. He claims that the pressure by shareholders to maintain their wealth is ridiculous. Pearlstein notes that the urge to maximize shareholder’s wealth is overtaken the customer satisfaction and interests. In America, business ethics has vanished in business operations because companies are striving to do all they can to make money. This is heavily brought by the pressure imposed to managers

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