British Academy issues principles to ‘put purpose at the heart of business’
The framework aims to guide companies and lawmakers towards policies and practices that help “profitably solve the problems of people and planet”.
Image: Gajus/Shutterstock
Anglian Water this year changed its articles of association, or constitution, to recognise that its business purpose went beyond profits and benefits for shareholders to include long-term value for customers, communities and “positive outcomes” for the environment and society.
The move was the latest in a long line that places company purpose ahead of short-term gains. This week Oxford University professor Colin Mayer took the argument a step further, laying out a set of eight principles to aid companies in their journey to become “purposeful companies”.
Written on behalf of the British Academy, the UK’s national body for the
For thoughtful journalism, expert insights on corporate governance and an extensive library of reports, guides and tools to help boards and directors navigate the complexities of their roles, subscribe to Board Agenda
Related Stories
-
Google apologises to advertisers in move to protect reputation
Google announces new measures and tightened rules after advertisers complain that content on YouTube was positioned alongside hate videos.
-
View from the chair: Ken Olisa on good governance
The debate over good governance should be led by practitioners, not regulators, but companies need a deeper understanding of how their boards operate, says Ken Olisa of the Institute of Directors.
-
Multi-capital reporting could rebuild public trust in business
Finance directors believe using multi-capital reporting could help change attitudes to big business.
