Putting Purpose Into Practice
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Putting Purpose Into Practice
Author: Colin Mayer
language: en
Publisher: Oxford University Press
Release Date: 2021-03-02
In the face of constant change, the nature of business must evolve rapidly if it is to remain relevant to society at large. How then should business change to meet the requirements of the 21st century, in which unbridled globalization and technological advancements are having profound affects on the wellbeing and prosperity of both the people and the planet? The achievement of purpose is the key to successful transformation - not just having a purpose, but making that purpose real at every level of the organization. This is the first book to provide a precise description of how companies can put purpose into practice. Based on a groundbreaking research project undertaken jointly between the Saïd Business School at the University of Oxford and Mars Catalyst, the think tank of Mars Inc., it provides a highly accessible account of how companies should determine and implement their corporate purposes. It outlines why corporate purpose is so important and how it can both address the major challenges the world faces today and deliver enhanced performance for business. Fourteen detailed case studies illustrate how companies of different sizes, sectors, and geographies have put purpose into practice and their experiences of doing so. These cases give deep insights into the way in which companies can build purposeful businesses, map and shape their ecosystems, identify failures and problems, align management, and create partnerships to deliver their purposes against which they can measure their performance. The achievement of purpose is a very real issue that every responsible leader in business, finance, and business academia must now face. This book will equip executives, managers, investors, and policymakers with the tools that they require to understand how the notion of corporate purpose should become a corporate reality.
Putting Purpose Into Practice
In the face of constant change, the nature of business must evolve rapidly if it is to remain relevant to society at large. How then should business change to meet the requirements of the 21st century, in which unbridled globalisation and technological advancements are having profound affects on the wellbeing and prosperity of both the people and the planet? The achievement of purpose is the key to successful transformation - not just having a purpose, but making that purpose real at every level of the organisation. This book provides a precise description of how companies can put purpose into practice. Based on a groundbreaking research project undertaken jointly between the Saïd Business School at the University of Oxford and Mars Catalyst, the think tank of Mars Inc., it provides a highly accessible account of how companies should determine and implement their corporate purposes.
Putting Purpose Into Practice
The book provides a detailed and practical description of how companies can put purpose into practice in their organizations. Based on a ground-breaking research project on the Economics of Mutuality undertaken jointly by the Saïd Business School at the University of Oxford and Mars Catalyst, the think tank of Mars Inc., the food and beverages company, over a period of five years, the book describes how purpose promotes business growth and performance. In particular, it gives a highly accessible and readable account of how companies can determine and implement their corporate purposes, and how, by so doing, they address critical issues in their ecosystems, such as rising inequality and environmental degradation, while delivering superior performance and resilience. The book will equip executives, managers, investors, policymakers, academics, and students with tools to understand the way in which companies can build purpose-centric businesses, map and orchestrate stakeholder ecosystems, identify untapped resources, create unconventional partnerships, measure and manage performance beyond financial reporting, and adopt a new definition of profit to promote corporate purposes. The book includes fourteen case studies of companies of varying sizes, sectors, and geographies that sought to put purpose into practice. They provide deep insights into the way in which companies have delivered corporate purpose and the challenges they faced in doing this. The book stresses both the opportunity and obligation on business to reposition itself to address the changing needs of society and the planet in the twenty-first century.