Marriott International CEO Sorenson on Corporate Stakeholders, Culture

The video discusses a personal health update, focusing on a recent surgery and recovery. It transitions into a discussion on the shift from shareholder primacy to stakeholder capitalism, highlighting Marriott's long-term focus and commitment to various stakeholders. The conversation then moves to employee engagement, emphasizing career development and the importance of a motivated workforce. Finally, it addresses the challenges faced by multinationals in balancing progressive values in the US with operating in more restrictive markets like China.

What significant event did the speaker undergo in November?

• A major business acquisition

• A surgery

• A new job role

• A family vacation

Why did Marriott decide to sign the new statement of corporate purpose?

• To reduce employee benefits

• To align with long-term goals

• To focus on short-term profits

• To increase shareholder value

What is emphasized as crucial for Marriott's workforce?

• Limiting employee growth

• Building careers and providing stability

• Short-term contracts

• Reducing wages

How does Marriott view its franchise employees?

• As temporary workers

• As integral to the company's success

• As replaceable staff

• As independent contractors with no connection

What challenge is highlighted for multinationals operating in different cultural contexts?

• Focusing solely on profit

• Balancing progressive values with local regulations

• Standardizing all business practices globally

• Ignoring cultural differences

What approach does the speaker suggest for dealing with cultural differences in global business?

• Avoiding international markets

• Showing cultural sensitivity and respect

• Focusing only on domestic markets

• Imposing one's own cultural values

Which issue has Marriott publicly supported in the United States?

• Healthcare policies

• Tax reforms

• Environmental regulations

• LGBT rights