It's time to redefine the purpose of business. Here's a roadmap
The traditional focus on shareholder value is not right, fair or efficient - and it's rapidly exceeding its sell-by date. What’s the alternative?
Peter Moores Professor of Management Studies, Saïd Business School, University of Oxford. Professorial Fellow and Sub-Warden of Wadham College, Oxford; Honorary Fellow , Oriel College, Oxford and St Anne’s College, Oxford. Fellow: British Academy; European Corporate Governance Institute; Royal Society of Arts. Member: UK Competition Appeal Tribunal; UK Government Natural Capital Committee; International Advisory Board, Securities and Exchange Board of India; Board of Trustees, Oxford Playhouse. Commander of the Order of the British Empire (CBE) (2017). 1994, Professor, Saïd Business School; 2006-11, Peter Moores Dean, Business School; 1998-2005, Director, Oxford Financial Research Centre. Harkness Fellow, Harvard University; Houblon-Norman Fellow, Bank of England; Leo Goldschmidt Visiting Professor of Corporate Governance, Solvay Business School, Université de Bruxelles; has had visiting positions at Columbia, MIT and Stanford universities. Former: Chairman, Oxera, assisted in building the company into one of largest independent economics consultancies in Europe. Director, energy modelling company Aurora Energy Research. Advises companies, governments, international agencies and regulators worldwide; leads the British Academy enquiry into “the Future of the Corporation”. Author of “Firm Commitment: Why the Corporation is Failing Us” and How to Restore Trust in It” and “Prosperity: Better Business Makes the Greater Good” (2018).