Professor Colin Mayer says the corporate sector is experiencing an “existential crisis”—and companies that can define their purpose will come out on top.
Business will “fundamentally” change as a result of the Covid-19 crisis, according to one of the UK’s leading experts on corporate governance.
Colin Mayer, professor of management at the Saïd Business School, University of Oxford, and author of the British Academy report Principles for Purposeful Business and the book Firm Commitment, said in an interview with Board Agenda that the pandemic means companies that face up to defining their “purpose” will be the ones that emerge from the crisis in better shape.
He said: “Business is going to fundamentally change as a result of this. The response to the financial crisis was to b
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