How can purpose-led businesses contribute to inclusive growth and how can policymakers help them?
A Blueprint for Better Business has been invited to share a paper ahead of the meeting of the OECD Global Parliamentary Network in London, 4-5 April 2018.
This pamphlet outlines why purpose-led businesses are key to building more inclusive and sustainable societies. It explains what purpose-led businesses are and how they can help to solve societies’ problems and enjoy long-term success at the same time. It then considers what policymakers need to do to create an environment where purpose-led businesses can thrive.
This meeting of the OECD network will focus on the policies that can reconnect wealth creation with tackling inequalities and addressing social justice goals, how markets can empower citizens and reduce poverty and the role of parliamentarians in making these changes happen. It will seek to move us from analysis to action and identify the policy choices needed to make growth more inclusive.
Governance Code Consultation – Our Response
A Blueprint for Better Business has submitted a response to the FRC consultation on the revised governance code. Overall, we are very positive about the new Code and we welcome the emphasis on the wider responsibilities businesses have to society, and in particular the importance of organisational purpose.
We have not sought to answer every question in the consultation but focused on seven areas where we have relevant experience and expertise. Our response covers:
1. Leadership and purpose and the Code’s recognition that businesses exist to serve society and all their stakeholders not just their shareholders;
2. the importance of lasting relationships and constructive dialogue with stakeholders;
3. Sustainable Development Goals;
4. workforce voice;
7. Stewardship Code
Academic Conference Summary
A summary of the sessions and papers presented at the Blueprint Academic Conference ‘Organisations with Purpose’ hosted in September 2016 in association with London Business School and the LBS Leadership Institute.
The two day event brought together leading researchers from the world’s top business schools. The event included research from academics drawn from a range of different disciplines to include philosophical papers which challenge and test commonly held assumptions about the human person and business purpose. There were also sessions focusing on the experiences of practitioners to include a panel of practitioners from 3 companies who are on the purpose journey.
Reflections from David Grayson
Professor David Grayson from Cranfield Business School provides us with his personal thoughts, insights and reflections from 2 events held by Blueprint in September 2016.
Fulfilment At Work
At A Blueprint for Better Business we believe that business can help build a better society. Much of our work focuses on helping senior people in business change the way they think about the purpose of business and what motivates people.
There is a lot of evidence that people feel more fulfilled and engaged when they work for a company that has a purpose that inspires them. We have therefore used our Five Principles of a Purpose driven business’ and our Framework to guide decision making to pull together 10 simple and practical steps that anyone can take to help feel more engaged and motivated at work.
We hope that these steps are genuinely useful to you in finding fulfilment.
Purpose & Performance
Blueprint has carried out some desk-based research into the existence of a link between purpose and performance. The research analyses whether following the ‘Five Principles of a Purpose Driven Business’ has an affect on financial performance. The paper finds a positive correlation between improved financial performance and adopting proxies for the Five Principles. Other benefits for following the Five Principles include:
- more engaged and innovative employees
- loyal customers and suppliers
- improved staff attraction and retention
- risk reduction and management
- organisational growth