We have worked with key academics and thought leaders to create an integrated frame of reference for the measurement of purpose and how it relates to accounting, reporting and valuation.
Invitation to partner with Saïd Business School
We invite your organisation to join a group of leading businesses to support and engage in an ambitious research programme around rethinking performance at Oxford. This is a unique approach to applied research that will create strong and lasting partnerships between academics and industry.
How can we operationalise purpose?
The Oxford Initiative on Rethinking Performance (ORP) aims to develop a framework for the measurement and operationalisation of corporate purpose. This will enable sustainable and long-term focussed business behaviour to thrive for the benefit of the economy, investors, planet and society.
In the last 10 years, the role and purpose of companies have been redefined. Modern, prudent and long-term oriented companies now need to understand and demonstrate how they create (and destroy) value beyond financials. ORP aims to examine how existing performance definitions, analyses and measurement systems need to be reshaped to truthfully reflect a company’s performance in relation to its corporate purpose.
To unravel this, the initiative focuses on tensions that arise in relation to measurement and implementation at three levels:
- Management – How to embed and operationalise corporate purpose in organisations through measurement, incentivisation and practice
- Accounting – How to take into account the cost associated with positive and negative social and environmental externalities, impacts and dependencies that are produced by company operations
- Reporting – How to connect internal measures of corporate purpose, management practices and corporate reporting on non-financial as well as financial impact.
By focussing on the study of long-term oriented and holistic performance, ORP aims to help businesses operationalise their purpose.
Key themes
Born out of the Mutuality in Business project, the initiative seeks to establish a global centre of bold discussions, contemporary thought and innovative ideas around the operationalisation of purpose through holistic performance measurement and valuation.
Objectives:
- Research Creating cutting-edge research to challenge conventional performance theory, measurement, and management.
- Engagement Working with our partners to develop frameworks for the operationalisation of purpose and to discuss and test these ideas with a wide network of organisations and thought leaders.
- Outreach Shaping thought and practice through novel teaching and outreach programmes, as well as regular convening for the creation of a global platform of discussion, on how to rethink performance.
Measuring purpose - An integrated framework
Partners
- Neuberger Berman
- Asahi Breweries Europe
- Novartis AG
- Royal Dutch Shell plc
- LafargeHolcim
Papers
Relevant academic articles and working papers from our research team.
- Johnstone-Louis, M., Kustin, B., Mayer, C., Stroehle, J.C. and Wang, B. (2020) Business in Times of Crisis. Oxford Review of Economic Policy, Volume 36, 2020, Pages S242–S255.
- Eccles, R.G. and Klimenko, S. (2019): The Investor Revolution. In: Harvard Business Review.
- Mayer, C. (2019): Valuing the invaluable: how much is the planet worth? In: Oxford Review of Economic Policy, Vol 35(1): 101 – 119.
- Stroehle, J. C. and Rama Murthy, S. (2019): Integrating Frameworks for Multi-Capital Accounting, Reporting and Valuation. White Paper of the Oxford Impact Roundtable, University of Oxford.
- Eccles, R.G.; Lee, L. and Stroehle, J.C. (2019) Social Origins of ESG? An Analysis of KLD and Innovest. In: Organization & Environment.
- Stroehle, J.C.; Metzner, M. and Soonawalla, K. (2019) How to Measure Performance in a Purposeful Company? Analysing the Status Quo. British Academy, Future of the Corporation Working Paper.
- Barker, R. and Mayer, C. (2017): How Should a ‘Sustainable Corporation’ Account for Natural Capital? SBS Research Paper 201715.
Contact
If you are interested in partnering with us please get in touch with kimberley.payne@sbs.ox.ac.uk