goal becomes running the Company in the short term
He compares the half century of corporate performance up to 1990 in what is called the era of managerialism when the focus was on employees, customers and shareholders and contrasts this with the era of shareholder value we live in today.
Reasearch shows that when pay reaches a certain level, hitting targets that allow payouts of share options and bonuses become the obsession of Management - not running the Company for the benefit of all parties.
CX/Swire playbook, "service straight through the heart".