It is interesting to note that this expensive evacuation (“walking the talk”) did not come
as a surprise for any of the IBMers present—they knew that the company would act upon
its belief system and do the same for any of them, regardless of circumstance or geography.
The strategist needs to look beyond shareholders and apply a stakeholder perspective to
ensure long-term survival and success of the firm. A firm that does not respond to stakeholders
beyond stockholders in a way that keeps them committed to its vision will not be
successful. Stakeholders want fair treatment even if not all of their demands can be met. A
minimum of fairness and transparency is critical to maintaining good relationships within
the network of stakeholders the firm is embedded in.
Finally, the large number of glaring ethical lapses over the last decade or so makes it
clear that ethical values and a code of conduct are key to the continued professionalization
of management.