@Rasta correct, and those in charge of the operation are legally obliged to maximise the profit for the shareholders, not deliver the service. Indeed, delivering a high quality service will not maximise the profit.
Public utilities and the caring professions cannot be run by private business as they are philosophically opposed.
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@peterbrown @Rasta That isn't quite how fiduciary duty to shareholders works, legally. At least not in the US.😂
@ech @Rasta maybe a slight difference in emphasis “One of the board’s primary responsibilities is to ensure the financial benefit of their operations.”
https://board-room.org/blog/fiduciary-responsibility-of-board-members/
@ech @peterbrown @Rasta it's not how it works *on paper*. It's also not how it *should* work.
In practice however, that's exactly how it works in way too many corporations. Maximise short term shareholder benefits at the expense of customers, employees and, all too often, society. Execs all over love to wilfully misunderstand the term fiduciary duty'.