WELCOME TO THE PURPOSE ECONOMY Michael Young Michael Hayman A CONVERSATION WITH MICHAEL HAYMAN BY MICHAEL YOUNG What is the role of the corporation in society? Should shareholder interests and the profit motive be the singular focus of businesses, or can corporations be a force of good and agents of change?
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n the age of COVID-19 and amid calls for greater social justice, climate action and racial equality, corporations and their CEOs are under intense scrutiny about the role they play in either driving real change or simply skirting responsibility and reinforcing the status quo while profiting handsomely. How consumer, employees, investors and society should judge corporations is by no means a settled question. Recently, I had the opportunity to speak with entrepreneur and author Michael Hayman about this topic in detail. Michael has an international
business background and in 2018, he was appointed Honorary Professor of the Purpose Economy at the University of London’s School of Advanced Study (SAS). Michael and I got into a wide-ranging discussion about his role and the evolving role of the corporation in society. Tell us about the Purpose Economy at the University of London. The goal of the Purpose Economy within the University’s School of Advanced Study is to examine the human aspects of how businesses, in partnership with stakeholders, can create a more
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