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Corporate governance: how can change happen?
Nina Boeger Corporate governance: how can change happen?
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Making change happen Ideas Institutions Interests
(Duncan Green, How Change Happens, 2016)
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Ideas New Economics Political psychology Enterprise diversity
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
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Institutions 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.
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Interests 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).
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The mission led business review
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.
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Some concerns 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.
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