To help boards, senior managers and investors govern purpose, Oxford University’s Saïd Business School has established the Enacting Purpose Initiative.
The Enacting Purpose Initiative is chaired by Rupert Younger, director of the Oxford University Centre for Corporate Reputation, with Professor Colin Mayer and Professor Robert G Eccles as co-chairs.
Together with a group of core partners – including the University of California at Berkeley, strategy consulting firm Brighthouse (a Boston Consulting Group company), investment group Federated Hermes, law firm Wachtell Lipton Rosen & Katz and the British Academy’s Future of the Corporation programme – the Enacting Purpose Initiative engaged with 30 European organisations and institutions to discuss, debate and then publish a first report on how purpose can be most effectively governed.
Central to this is SCORE, a powerful new framework that helps boards of directors, senior management and investors translate purpose intent into practice.
The framework provides a simple set of five elements that are critical for purpose to be properly governed. The five SCORE elements are set out below, each coming with its own clear governance question.