Pushback has many definitions, but it generally refers to opposing something, such as a change or criticism. Pushback can also refer to dissent, civil discourse, peaceful demonstrations, anarchy, or in the worst case, violence.
In medicine, getting a second opinion could be considered as a pushback example.
In the US, the Constitution provides for a system of checks and balances that are designed to prevent any one branch of government from becoming too powerful. Each of the three branches has distinct responsibilities and powers. While the structure provides for enforcement measures such as veto and impeachment powers but, before things come to that, one would hope that disagreements can at least start with some level of pushback.
Investors should be interested in how differences are resolved. A management that is open to pushback from key stakeholders may be preferable to one with a dictatorial approach, which may not result in the best outcomes.
All comments and suggestions are welcome.
Walter J. Kirchberger, CFA
