Coulson-Thomas, Colin (2024) Building purpose-driven business organisations and their boards. Effective Executive, 27 (3). pp. 13-38. ISSN 0972-5172

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Abstract

Whether a purpose driven organisation is desirable will depend upon the purpose in relation to stakeholder aspirations, concerns and requirements, and the situation, circumstances and context. This article examines what corporate purpose and a purpose-led business might mean for corporate governance, the quality, value and growth that are sought, independent directors, ESG and sustainability, diversity and the role of future boards. It presents questions that directors could consider in relation to selected items on board agendas when balancing contending claims upon resources, establishing priorities and endeavouring to become and remain purpose led. A corporate purpose should reflect global risks, existential threats, challenges and opportunities, be responsible, sustainable, inclusive and appropriate for the wider contexts in which a company is active and could have an impact. As situations, circumstances and contexts change and/or evolve, a purpose may need to be revisited, reviewed and re-defined, flexibly interpreted and intelligently implemented if it is to be resilient and remain relevant. Where this does not happen, and interests and parties become more aware of the costs and negative consequences and implications for themselves of certain purpose-led and/or ESG initiatives, they may seek to delay their implementation and/or prevent their achievement.

Item Type:	Article
Additional Information:	This article draws upon the author’s Theme Paper for the 2024 Annual Directors Conclave organised by India’s Institute of Directors. Effective Executive is a quarterly peer reviewed journal of IUP (ISSN 0972-5172).
Uncontrolled Keywords:	purpose, purpose-driven business, business organisations, values, quality, growth, business management, boards of directors, leadership, Human Resource Management, ESG (Environmental, Social and Corporate Governance issues)
Subjects:	H Social Sciences > H Social Sciences (General) H Social Sciences > HD Industries. Land use. Labor H Social Sciences > HD Industries. Land use. Labor > HD28 Management. Industrial Management
Faculty / School / Research Centre / Research Group:	Greenwich Business School Greenwich Business School > School of Business, Operations and Strategy
Related URLs:	Publisher
Last Modified:	21 Nov 2024 09:53
URI:	http://gala.gre.ac.uk/id/eprint/48649

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