Nutshell: executives who focus on shareholders can not focus on customers (for various & sundry reasons)
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Well… I think a good exec will maximize shareholder value by focusing on (among other things) their customers.
I like how the article discusses more about how the incentives for maximizing shareholder value based upon expectations, instead of real results, sets up perverse incentives to spend more time gaming the stock price, and to focus on the customer as a mark, instead of a customer.