The Library
From “business as usual” to sustainable “purpose‐driven business”: challenges facing the purpose ecosystem in the United Kingdom and Australia
Tools
Lyon, Fergus, Stubbs, Wendy, Dahlmann, Frederik and Edwards, Melissa (2024) From “business as usual” to sustainable “purpose‐driven business”: challenges facing the purpose ecosystem in the United Kingdom and Australia. Business and Society Review . doi:10.1111/basr.12341 ISSN 0045-3609. (In Press)
|
PDF
Business and Society Review - 2024 - Lyon - From business as usual to sustainable purpose‐driven business Challenges.pdf - Published Version - Requires a PDF viewer. Available under License Creative Commons Attribution 4.0. Download (2305Kb) | Preview |
Official URL: https://doi.org/10.1111/basr.12341
Abstract
Purpose‐driven businesses have a stated objective to contribute to the welfare of society and the planet alongside generating shareholder value. As interest in purpose‐driven businesses grows, an emerging “purpose ecosystem” of advisers, investors, and enablers offers different types of support for businesses wanting to transition to sustainability. This paper examines how the transition towards purpose‐driven business in Australia and the United Kingdom requires addressing challenges facing this support ecosystem at three levels. First, at the individual level where support providers need to build the capabilities of managers who are experiencing tensions around integrating societal and environmental purpose while facing pressure for maximizing shareholder value. Second, the support providers working within the purpose ecosystem offering professional advice and finance face their own tensions between environmental or social objectives and commercial pressures. Third, there are challenges facing actors in the ecosystems aiming to change the wider policy and institutional environment but facing lobbying from those wanting to keep “business as usual.” We identify practical implications for those parts of the purpose‐driven business ecosystem providing support. This includes building capabilities to combine social, environmental, and commercial purpose; coordination among support providers; and creating an institutional environment to avoid “purpose wash.”
Item Type: | Journal Article | ||||||||
---|---|---|---|---|---|---|---|---|---|
Subjects: | G Geography. Anthropology. Recreation > GE Environmental Sciences H Social Sciences > HC Economic History and Conditions H Social Sciences > HD Industries. Land use. Labor H Social Sciences > HF Commerce |
||||||||
Divisions: | Faculty of Social Sciences > Warwick Business School | ||||||||
SWORD Depositor: | Library Publications Router | ||||||||
Library of Congress Subject Headings (LCSH): | Social responsibility of business, Business enterprises -- Environmental aspects, Business ethics , Environmental responsibility | ||||||||
Journal or Publication Title: | Business and Society Review | ||||||||
Publisher: | Wiley-Blackwell Publishing, Inc. | ||||||||
ISSN: | 0045-3609 | ||||||||
Official Date: | 2024 | ||||||||
Dates: |
|
||||||||
DOI: | 10.1111/basr.12341 | ||||||||
Status: | Peer Reviewed | ||||||||
Publication Status: | In Press | ||||||||
Access rights to Published version: | Open Access (Creative Commons) | ||||||||
Date of first compliant deposit: | 21 February 2024 | ||||||||
Date of first compliant Open Access: | 21 February 2024 | ||||||||
RIOXX Funder/Project Grant: |
|
||||||||
Related URLs: |
Request changes or add full text files to a record
Repository staff actions (login required)
View Item |
Downloads
Downloads per month over past year