Business for Purpose Network (B4PN) Weekly Announcement. Update #14 — February 26, 2021
The Business for Purpose Network (B4PN) is an initiative catalyzed by the JW McConnell Family Foundation and the MaRS Discovery District. Contact Allyson Hewitt, VP Impact at MaRS for more information or to join our mailing list at ahewitt@marsdd.com or with a DM that indicates your preferred email or to unsubscribe.
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1. UPCOMING EVENTS.
1.1. Building an Organization that Delivers on Purpose. HBR. Monday March 1, 2021. Noon EST. Free Registration. “Purpose” has become a management watchword that holds great potential to inspire. Employees consider purpose more than twice as important a motivator as compensation and career advancement, according to a recent Strategy& survey. And purpose-driven organizations deliver stronger profits and growth. However, many enterprises struggle to define and live their purpose…Blount and Leinwand will review effective purpose statements, describe how purpose is linked to customer value, and examine how effective organizations create purpose statements that attract the right talent. They will also share case studies of company purpose that succeeds and will summarize Strategy&’s survey about employee motivation.
1.2. Partnership Brokers. The B4PN believes the only way to tackle our complex challenges is through better cross-sectoral collaboration. To that end, we encourage everyone to check out “Brokering Better Partnerships is a four week online partnering course. It is designed specifically for those involved in multi-stakeholder collaborations looking for ways to make them more effective and impactful. The course includes live interactive webinars, group work and individual reading and reflection time. It is a safe space to support personal and professional development.” Cost: from $367.50. Thanks to Tim Draimin for this information.
2. GOVERNANCE. 360º Governance Report. Where Are The Directors In A World In Crisis.
· This new report outlines and provides commentary on 13 guidelines on:
(1) Corporate Purpose
(2) The Board’s Duty
(3) The Definition of Stakeholders
(4) The Rights of Indigenous Peoples
(5) Reporting on Stakeholder Impact
(6) The Formation of a Stakeholder Committee
(7) Addressing Stakeholder Conflicts
(8) Executive Compensation Policies
(9) Board Refreshment
(10) Board Diversity
(11) Organizational Diversity
(12) Climate Change
(13) Corporate Activism
· The Globe and Mail (February 22, 2021) writes about the report here (subscriber access only). Canada’s corporate boards are trapped in the past, must be revamped for ESG era: governance experts. Thanks to Coro Strandberg for this information.
3. THE CASE FOR PURPOSE. How To Build A Corporate Purpose That Will Help Navigate Change. By David Michels in Forbes online February 24, 2021. “It’s easy to think of corporate purpose as simply nice to have―inspirational for a moment, perhaps, but ultimately not much more than words on the home page or in the boardroom. In truth, purpose has never been more important. Covid-19 thrust corporate purpose to the forefront, showing how critical it is to any organization’s ability to change.”
4. B4PN GRANTS ANNOUNCED. The JW McConnell Family Foundation, in partnership with the MaRS Discovery District, announced the following microgrants to support the advancement of the work of the Business for Purpose Network (B4PN). Stay tuned for more details on the progress of this work.
4.1. Sustainable Procurement Hub. Lead: Canadian Business for Social Responsibility. To write a benchmarking report on the state of social/environmental procurement in Canada by consolidating the work of existing actors.
4.2. Integrating Knowledge to Support a Net Zero Transition for SME’s. Lead: Green Economy Canada, To explore the synergies among intermediaries who are helping businesses get to genuine Net Zero reductions.
4.3. What would enable, accelerate, mandate and hold accountable social / societal purpose business in Canada — a legal think piece. Lead: David Suzuki Foundation. To craft a report that addresses corporate structure and how best to support new and existing entities’ address purpose.
4.4. Social Purpose in Business Summit and Workshop. Lead: Social Purpose Institute. To host an (un) conference to run between Globe events and one pre-conference workshop.
4.5. League Fellowship. Lead: League of Intrapraneurs. To conduct research on the state of intrapraneurship among businesses in Canada leveraging the work of the global League of Intrapraneurs.
Enjoy the week-end
Allyson
