Overview
Corporations have, for most of their history, been organised around two things: power and profit. Power, in the sense of control over resources, and profit, in the sense of returns to owners (shareholders). Traditional models of corporate governance have been built on this foundation. However, these two pillars alone do not provide a complete and adequate account of what effective governance requires. This includes questions as to why the corporation exists, who it serves, and what obligations flow from operating within social and ecological systems on which it depends but over which it has no sovereign claim. The argument advanced in this lecture is that purpose is the third and essential, the absence of which results in material governance consequences. Request the full insight below.
