Purpose, values, culture - how do they drive governance?

WITH political turmoil, scandals, distrust of big business and the financial systems, there is an emerging belief that business should be about more than just turning a profit.

One of the findings from a recent Black Sun global research study together with CIMA and AICPA, Purpose Beyond Profit, found that across all regions, the majority (89%) of executives believe that their organisations must shift their attention beyond profit to wider value creation.

With more and more stakeholders demanding daily to know why companies are in business and the value they create for society, "the pursuit of purpose" will be what defines the companies that survive and thrive in the future. And having a clear purpose - "why your company exists and what it is there to do" - is inextricably linked to culture. This is often the starting point for successful companies.