Read the latest blog by Mark Chambers, IBE's Associate Director (Governance).
Anyone who has travelled with kids knows that it is only a matter of time before the inevitable question ‘are we there yet?’ is raised from the back seat. In a similar way, any conversation with a business leader nowadays seems to lead inexorably to the topic of company purpose.
Discussions about company purpose are not new, of course - the migration away from traditional notions of shareholder primacy and the growing demand for companies to play a clearer and more valuable role in society had very considerable momentum even before the pandemic - but Covid has accelerated this trend. Indeed, many companies have cited their purpose as having been a vital ‘North Star’, helping them navigate through the challenges of the past year.
These developments are to be welcomed and applauded. They reflect a deepening understanding that businesses are part of a complex stakeholder ecosystem and that sustaining and supporting that ecosystem is in everyone’s best interests. A focus on purpose makes good business sense.
To read this blog post in full click here.