What does the duty to promote the success of the company require directors to consider?

The duty to promote the success of the company requires directors to consider the interests of all stakeholders. This includes not just shareholders, but also employees, customers, suppliers, and the community at large. By acknowledging the needs and interests of various stakeholders, directors can make decisions that lead to sustainable success for the company. This holistic approach helps to ensure that a company not only pursues profitability but also maintains a positive reputation and builds strong relationships, fostering long-term growth.

In contrast, focusing solely on personal financial gain overlooks the broader responsibilities that directors have towards their company and its stakeholders. Considering only short-term success can lead to decisions that are detrimental in the long run, as it may neglect investments or actions that lead to sustainable growth. Similarly, catering primarily to the preferences of board members can lead to decisions that may not align with the overall interests of the company or its various stakeholders, ultimately hindering the company's success.