Bringing Corporate Purpose to life in the boardroom

We haven’t seen so much emphasis on Purpose in the boardroom lately. When the last iteration of the Corporate Governance Code gave it momentum, there was some enthusiasm, buoyed by the prominence of ESG at the time. As that attention has waned, so has interest in Purpose: what it is and why it matters. We think that’s a pity, especially when there’s less focus on values, too. Brought alive and used well (important qualifications!), we have seen the Purpose Statement energise a board meeting, give the Board an opportunity to show leadership, reinforce the strategic direction, motivate NEDs and executives alike, and more.

The challenge is how to achieve this in practice, without getting stuck on debating Statements that might be well-intentioned but are of limited practical impact. In this month’s Bulletin we look at good practices you might consider for bringing the Purpose alive in the boardroom. Along with some mistakes to avoid.