Wednesday 27 November 2019

UK: Principles for Purposeful Business

In 2017 the British Academy began a research project titled The Future of the Corporation. As part of this project, a report was published today setting out 'Principles for Purposeful Business'. A copy of the report is available here (pdf) and an executive summary is available here (pdf).

There are, in fact, eight principles intended for policymakers and business leaders. The first, for example, states that corporate law should "place purpose at the heart of the corporation and require directors to state their purposes and demonstrate commitment to them". The fourth states that "[c]orporate governance should align managerial interests with companies' purposes and establish accountability to a range of stakeholders through appropriate board structures".

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