The purpose of companies

The general wisdom contends that the purpose of a company is to create shareholder value. I say it is to create and keep customers. If done well, this helps to increase profits, which then increases shareholder value. Focusing squarely on shareholder value is a short-term perspective, leading to short-term results.
The goal is long-run value - and the customer is the source of that value. So the customer must be the primary focus of any business, not shareholder value. By shifting the focus, you open up a broader range of opportunities that you otherwise just can't see.