Launch event - "For-Benefit Business and the Future of the Corporation."

About this Event

We are delighted to announce a new working paper from the Future of the Corporation programme, which examines how the Principles for Purposeful Business can apply to the practice of for-benefit business.

The paper uses the Future of the Corporation research as a framework to consider the idea of an emerging fourth sector of the economy that combines features of the for-profit, non-profit and public sectors under the rubric of ‘for-benefit’ business. These terms capture familiar models like social enterprise, public benefit corporations, co-operatives, community interest companies, and a range of other forms. The fourth sector is an under-researched domain and our paper focuses on highlighting areas for further research, while offering readers practical recommendations and the chance to engage with the concept and consider how it might develop.

We would love you to join us on 25 March at the British Academy to discuss the paper, which will be made available on the same day. The discussion will be led by Professor Colin Mayer, Academic Lead for the Future of the Corporation programme, and Heerad Sabeti, Chief Executive of the Fourth Sector Group.

The event will provide a forum for discussing the application of the Principles for Purposeful Business to the development of a fourth sector of for-benefit business. The outcome of this discussion will provide a valuable foundation for further research into the concept of the fourth sector and the application of the Principles.

Date: 25 March 2020

Time: 5.00-6.30pm (registrations start at 4.30pm) followed by a reception ending at 7.30pm

Location: The Mall Room @The British Academy, 10-11 Carlton House Terrace, London, SW1Y 5AH

EVENT UPDATE DUE TO COVID19:

We are pleased to announce that this event will now take place as a virtual meeting at 3pm British Summer Time (2pm GMT, 10am EST) on 31 March 2020.  

In the few weeks since we were first in touch about the event, the coronavirus pandemic has led governments to impose unprecedented changes to the way we conduct ourselves in business and in our communities.  The Future of the Corporation programme has consistently asked, “What is the role of business in society?”.

During this challenging time, we are seeing examples of business operating under purposes not previously imagined. Hotels are housing the homeless and car makers are producing ventilators. Regulators are relaxing rules on competition to allow companies to solve problems together. Governments are underwriting large parts of the economy. Interest rates are near to zero. With such changes afoot, we are now looking ahead to how governments, business and society respond and adapt their purposes in real time, building on extensive research and thinking about the nature of business in recent years.

Our collaboration with the Fourth Sector 2030 Initiative has highlighted a rich research agenda around the fourth sector of the economy, which comprises for-benefit business which combine features of the for-profit, non-profit and public sectors. This is a diverse landscape of organizations that includes more familiar models like social enterprise, public benefit corporations, co-operatives, community interest companies, and a range of other forms. Our paper highlights areas for further research, while offering readers the chance to engage with the concepts and consider how they might develop. This event will offer the opportunity to discuss the paper, the implications of the current dramatic changes to business and the economy, and how a purposeful approach can play a role.

Location: the event will be held via Zoom.  Details will be shared with registered participants.

Date: 31 March 2020

Timing: 3pm BST, 2pm GMT, 10am EST