The British Academy has today launched its Future of the Corporation report, which “identifies a need to re-think radically how business will meet 21st century environmental, social and economic demands, as well as the challenges of technological advances and globalisation.”
Bates Wells supports the findings of this research which proposes a new framework based on three interconnected principles, each of which are designed to help redefine the corporation model around the concept of purpose.
Along with a number of other esteemed organisations, Luke Fletcher, partner in our Charities & Social Enterprise team, has signed a statement which argues that:
“We think that change is needed. Business itself must recognise the role it needs to play in pursuing purposes beyond profits. The corporation of the future must combine purpose, trustworthiness and culture.
“To set in motion this change, governments and business need to use multiple levers. We have identified five: ownership, corporate governance, regulation, taxation and investment. In the coming year, we will be putting together detailed policy proposals under these headings.
“Today we start a new global conversation about the future of the corporation.”
This report is the first in the British Academy’s Future of the Corporation series, which sets out to both restore trust between businesses and wider society and also to ensure that corporations futureproof themselves to cope with the significant challenges they will face in the 21st century.
If you’d like to read the findings of the report in its entirety please click here. Alternatively if you are a journalist and have any questions concerning Bates Wells’ views on this report, please contact our Senior Press Officer Sam Hunter on email@example.com .
Posted on 01/11/2018 in BWB NewsBack to Knowledge