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Fair SharesThe Future of Shareholder Power and Responsibility$
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Jonathan Charkham and Anne Simpson

Print publication date: 1999

Print ISBN-13: 9780198292142

Published to Oxford Scholarship Online: October 2011

DOI: 10.1093/acprof:oso/9780198292142.001.0001

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Power: The Greasy Pole

Power: The Greasy Pole

(p.126) Chapter 12 Power: The Greasy Pole
Fair Shares

Jonathan Charkham

Anne Simpson

Oxford University Press

The legal framework of the company was always intended to facilitate the accumulation of power and resources necessary for the size and duration of modern commercial and industrial enterprises. People come to power as they come to greatness — by odd routes. This chapter examines the aspects of power and patronage and the reasons why some struggle so hard for power. One of the aspects of power and patronage is to decide how much of the shareholder's money shall be given away, to whom, and for what. Another aspect of power concerns the direction and perhaps the very existence of the business. Everyone connected with a business wants to see real growth; they want to see a business grow. This is the source of prosperity. It is however a long hard road and a CEO's time in office may be quite short — at least short enough for the rewards of his or her labours to fall to successors. As this is so, many use their power to attain growth, but of a different kind, by acquisition.

Keywords:   power, patronage, shareholder, money, acquisition, CEO, growth

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