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Come up with a way to motivate the big business to act in the best interests of their customers

Image credit: https://theoryandpractice.ru/posts/6716-paradoks-vybora-kak-kapitalizm-prevratil-cheloveka-v-passivnogo-i-bespokoynogo-potrebitelya

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Mikhail Korsanov
Mikhail Korsanov May 19, 2022
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Come up with a way to motivate big business to optimize the interests of buyers and customers to a predominant extent, rather than maximizing profits. A lot of decisions are made in the interests of shareholders, but harm the best interests of the widest range of customers and buyers, and therefore the whole society as a whole.
customersbig businessprofit maximization
3
Creative contributions

Create an organization disclosing to the public such decisions of corporations

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Mikhail Korsanov
Mikhail Korsanov May 19, 2022
Create an organization disclosing to the public such decisions of corporations. A weak solution, but something to start with.
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Some part of the company stays in the public domain

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Shubhankar Kulkarni
Shubhankar Kulkarni May 21, 2022
I am not sure what percent of the company should go public but it needs to be sufficient enough to hamper the growth of the company to an extent if they take decisions that are against the interest of their consumers.
Other rival companies might buy some part of the company and damage the company just to eliminate competition. Therefore, the percentage should not be big enough to destroy the company.
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Mikhail Korsanov
Mikhail Korsanov2 years ago
Are you sure, the same people own the biggest part of the company as are their consumers? I suppose, these people commonly are very different anyway...
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Increase the awareness of "the control in people's hands"

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jnikola
jnikola May 30, 2022
Increase the awareness of "the control in people's hands" by reminding people that if they buy some things, they promote the product - if they stop buying it and choose "cheaper" or "better", that will force a company to act in the best interest of their customers.
Additional information
As a country that entered the EU 10 years ago, we saw many big companies coming to our country, tons of new products being imported, but also tons of our local products being cut out due to "high prices" compared to the imported ones. In other words, people CHOSE to buy cheaper stuff and cut out the local products. Recently, some of those "cheap" products became more expensive and people complained about the prices, asking the government intervention. The government incorporated some politics that helped local farmers to reduce the prices of their products. People now CHOSE to buy them, under the motto of "promoting local businesses".
People have the power to guide the economy by their CHOICES.
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