HEC Purpose Day 2025: Navigating Dissent in Corporate Purpose
More than 200 participants gathered at the Hôtel de l'Industrie for the third edition of Purpose Day, organized by the HEC Paris S&O Purpose Center and Oxford University Saïd Business School Centre for Corporate Reputation, to differentiate corporate purpose from CSR and explore how companies can foster authenticity and trust as they address internal and external pressures.
The event, co-chaired by Rodolphe Durand (HEC Paris) and Young Rupert (Oxford) was a very rich day with insightful exchanges, where we fostered research & practice dialogue — dynamic exploration of recent research on corporate purpose, highlighting the intersection of theory and practice.
A Regenerative Investment Model for Systemic Impact
Marie Ekeland, founder of the 2050 investment fund, captivated the audience by presenting her innovative vision of venture capital. Her distinctive and concrete approach to finance's role has revolutionized traditional perspectives. She detailed her regenerative fund model, specifically designed to nurture an entire ecosystem and generate systemic impact. This presentation opened new pathways for rethinking responsible investment in a transforming economy.
Strategic Implications of Responsible Business Practices
Professor Vanessa Burbano from Columbia Business School presented her latest research on employees' behavioral responses to CSR (Corporate Social Responsibility) initiatives. Her work, which examines the strategic implications of socially responsible and irresponsible business practices, provided valuable insights into how companies' commitment to their mission can influence employee motivation and performance, while navigating the complexities of contradictory stakeholder expectations.
Corporate Purpose as a Compass in Turbulent Times
One of the highlights was the contribution of Florent Menegaux, CEO of Michelin, who shared his reflections despite the current challenges facing the industry. His statement, "Corporate purpose is essential. It doesn't drive everything, but it defines why we work together. In times of difficulty or when facing major challenges, returning to this purpose helps us align with our original values and provides clarity for decision-making," deeply resonated with the audience. Menegaux stressed the importance of a balanced approach: "It is essential to act simultaneously within three dimensions: planet, people, and profit."
A Stimulating Intellectual Debate on the Value of Corporate Purpose
The Oxford Union Debate on the motion "Purpose commitments are a management distraction and destroy shareholder value" constituted a remarkable intellectual exercise. The brilliant exchanges between Hilary Hoyt, Josip Kotlar, Seungah Sarah Lee, Alan Morrison, Georg Wernicke, and Tim Kuhrcke demonstrated the complexity of the issue. Although Georg Wernicke's team presented compelling arguments in favor of the motion, the opposing team won by a landslide, suggesting that integrating a clear purpose into corporate strategy can actually create value rather than destroy it. This dynamic debate, marked by the participants' insight, boldness, and humor, was particularly appreciated by the audience.
Looking Forward: Addressing Social Cohesion in a Fragmented World
As Florent Menegaux poignantly noted during the event, "The biggest challenge today is social cohesion, with the risk of societal fragmentation." This crucial insight sets the stage for our upcoming S&O Inclusive Economy Day on March 28th, 2025, where we will delve deeper into strategies for building more cohesive business models and inclusive economic frameworks. We invite all participants from the Purpose Day and beyond to join us as we continue this vital conversation about how businesses can contribute to strengthening the social fabric while pursuing their purpose in an increasingly divided world.
