As the conversation about business purpose has spread, it has become more confused and contradictory, says Tom Rippin. Only one school of thought on purpose – the systems-driven one – holds a lasting solution.
A new kind of business education would mean future companies can help solve society's problems, says the British Academy, as its Future of the Corporation programme unveils a report on teaching "purposeful" business.
President of UK business group urges firms to switch to positive purpose as influential Future of the Corporation project calls for overhaul of company director role. But, asked if profit or purpose comes first, business leaders are evenly split.
Speaking at a panel talk at the British Academy’s Future of the Corporation conference, the former US vice president said the move towards sustainability was real and public and private sectors should work together to move forward.
UK business leaders are split on primacy of profit or purpose. But many want government-led incentives to help them take a more responsible approach to capitalism.
Despite some efforts to nurture the responsible business leaders of the future, our education system – along with legislation and business practice – still prevents corporations from fulfilling their broader purpose. What needs to change?
