Transforming British business with purposeful companies committed to creating long-term value through serving the needs of society
The Purposeful Company
The Purposeful Company (TPC) Task Force was established in 2015 with the support of the Bank of England to transform British business with purposeful companies committed to creating long-term value through serving the needs of society.
Profit is not the purpose of a company, profit is one outcome of identifying and pursuing a purpose that benefits society
A shared Why?
The role of business is to fulfil human wants and needs and to pursue a purpose that has a clear benefit to society. It is through the fulfilment of their chosen purpose that value is created.
A shared How?
Leaders in a company should put its purpose first and seek investors who are equally committed to pursue it and thereby achieve long-term, sustainable value. Investors and boards should recognise that making competitive returns for shareholders is essential to a company’s success – but is not its purpose.
The Task Force is a consortium of leading companies, investment houses, business schools and business consultancy firms committed to make this proposition live in practice. It is examining how the entire ecosystem in the UK – capital markets, ownership structures, stewardship, corporate governance, executive incentives – can be reshaped and reset so as best to support the development of companies driven by purpose to the long-term benefit of their material stakeholders.