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Temasek Management Services

Creating a Purpose-Driven Organisation

R. Edward Freeman: A New Story for Business
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Description

One of the paradoxes of today’s business is that the most profitable businesses in the world are not those which are the most profit-focused. Substantial research has consistently shown that purpose-driven organisations generate far more returns as compared to profit-driven organisations. If any organisation’s leader and its people get the purpose right, profits will follow. This reality runs contradictory to the common understanding of the story of business. Businesses around the world are undergoing a major shift. After the global financial crisis, boards, business leaders and policy makers recognise that business is a key institution in meeting the challenges of every society, and it will play an increasingly important role in building better societies and making the world a better place. In short, the story of business is changing. There are many different versions of this new purpose-driven story, from Corporate Social Responsibility to Conscious Capitalism, Shared Value, Just Capital, Patient Capital, Socially Responsible Investing, and others. Some of these ideas are merely bolted onto current business models, while others represent more systematic changes.

Programme Details

Facilitated by Professor Edward Freeman, this forum is designed as an interactive dialogue when we will examine how directors can lead the process of change to create a new story of business.

Key topics include:

  • The Role of Purpose
  • Answering "What do we stand for"
  • Creating Value for Stakeholders
  • The New Role of Government: Facilitating Value Creation
  • Why Bother with Ethics and Values
  • What is Total Performance and How Should it Be Measured

Who should attend

Chairmen and board directors of privately owned and public listed companies, government agencies, as well as social enterprises

Experts

Education: B.A., Duke University; Ph.D., Washington University R. Edward Freeman is University Professor and Olsson Professor of Business Administration; Academic Director of the Business Roundtable Institute for Corporate Ethics; and an Academic Director of the Institute for Business in Society...
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