To improve public procurement – use the Trust Test
Public procurement is too often solely made on price, and not enough on true value and to account for areas...
This morning, Mark Goyder spoke at the launch event of the Good Governance Index at the Institute of Directors. Making reference to a previous keynote he gave at the Institute of Directors on the role of business in society, he emphasised the nine common-sense propositions which say most of what needs to be said about the relationship between purpose and values, and the prosperity of business.
The nine propositions have been offered as a logical statement of the importance of purpose and values to business:
1) Business is subordinate to society.(Licence to operate)
2) Every business is different (Uniqueness)
3) Businesses are started by individuals (Entrepreneurs)
4) Motives vary but profit or dividend for entrepreneur /shareholder is rarely dominant (The fallacy of Homo economicus )
5) Sustainable shareholder value creation depends more than ever on inspiring loyalty, creativity and trust in and learning and feedback from all key relationships. (Business is about leadership through relationships) .
6) Companies cannot inspire these responses without generating a clear, pervasive, and enduring sense of the purpose and values of the whole organisation (Purpose and values are the basis of leadership) CONCLUSIONS – the case for the inclusive approach
7)Each business will make its own choices, but a business which fails to include all key relationships in its definition and measurement of success (its success model) misses opportunities incurs undue risk and thereby puts itself at a competitive disadvantage
8) Alongside business skills and strategy, purpose and values are central to the creation of shareholder value.
9) This holds for individual companies and for the business community as a whole whose freedom of action depends on the level of public confidence (Licence to operate)
Public procurement is too often solely made on price, and not enough on true value and to account for areas...
In January 2020, Tomorrow's Company co-hosted a major Financial Inclusion Summit, to launch our report into the role of employers...
Mental health in the workplace has gone from a fringe idea to being mainstream and top of the agenda in…
Dear Readers, Here are a few articles published in the last few days that address issues – such as mental…
We need a social contract that is fair, so that everyone has the chance to progress.
Joining Russell Goldsmith at the London offices of GSK to discuss this issue, were Kerry O'Callaghan, VP for Global Brand...
Tomorrow’s Company is proud to announce a partnership with the c suite podcast, a monthly show covering topics such as Marketing…
Press return to search