Driving Change in Corporate Governance: Strategies for Transformation
Strategies and challenges in driving change in corporate governance are explored in this content. Topics such as new economics, diversity in institutions, and the role of interests are discussed, highlighting the need for coherence, collaboration, and recognition of mission-led businesses. Emphasis is placed on facilitating economic activism, promoting purpose-driven corporations, and navigating political obstacles to create a new social contract for business.
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Corporate governance: how can change happen? Nina Boeger
Ideas Institutions Interests Making change happen (Duncan Green, How Change Happens, 2016)
New Economics Kate Raworth, Doughnut Economics, 2017 Political psychology George Monbiot, Out of the Wreckage, 2017 Enterprise diversity Nina Boeger and Charlotte Villiers, Shaping the Corporate Landscape, 2018 Ideas
Diversity in terms of size / term / purpose / ownership / decision-making / social culture. Diversity of movements and models Community Business Social Enterprise Employee ownership Mutuals Coops (incl. open and platform coops) Fairshares businesses B Corps Benefit corporations Purpose-driven corporations. Institutions
Challenge of reaching the (failing) mainstream. What seems to be failing: CSR (ineffectiveness) State regulation (political blockages / inter- dependence) Where we seem to be heading: State and IO s facilitating economic activism Enabling businesses that encompass new ideas (including company law, public procurement, tax, land and planning, IP etc). Interests
Coherence of the narrative, opening up beyond the social economy: a new social contract for business. Focus on purpose or mission offers clear strategic priority. Highlighting state s role as facilitator more than regulator (e.g. model articles). Recognition of challenges and collaborative institutional efforts, e.g. investors, business leaders, advisors, academics. Considering (further) development of legal forms, e.g. benefit company. The mission led business review
Insufficient political profile and commitment. Failure to recognise all mission-led businesses. Risking not coherence but further division. Emphasis on business case and panel composition. Further reflection necessary on wider legal context. Some concerns
