To do business that does right by society is a more ‘inclusive capitalism’.

This study is the result of months of research and individual interviews with heads of 40+ non-governmental organisations seeking to promote more inclusive economies. These organisations seek to directly influence key business actors including executives, boards, and asset owners to do business that does right by society – a more ‘inclusive capitalism’.

From this research, we learn that these organisations typically seek to influence business behaviour by shaping the ideas of thought leaders, educators, and senior executives directly. We identify a landscape of eight key influence strategies pursued by the organisations we researched. Three are the most prominent or ‘core’ influence strategies:

• convening/networking leaders
• research/thought leadership
• movement building/community organising

We also identify five ‘supporting’ influence strategies:

• acting as an incubator for the development and dissemination of new standards/organisational forms
• providing advisory services
• working via business education
• via public engagement
• or through policy/advocacy

Organisations expect to see significant progress within the next decade towards aligning public and regulatory demands with inclusive economic aims. They anticipate they will be operating in a context that is friendly to—or might even demand—work towards inclusive economies, as paradigms centred on philanthropy and corporate social responsibility (CSR) give way to inclusive economic approaches tied to core business activities and performance.

Read the full report here 

Authors:

Richard Barker is Professor of Accounting at Saïd Business School. Richard’s research is focused on financial reporting, including international accounting standards and investors’ use of financial statement information.
Mary Johnstone-Louis: Thesis title: Can Multinationals Empower Poor Women Through Entrepreneurship?
Ted Roosevelt Malloch is a Fellow in Management Practice at the Saïd Business School, University of Oxford. He previously served as Research Professor at Yale University.
Colin Mayer is Peter Moores Professor of Management Studies, a Professorial Fellow of Wadham College, an Honorary Fellow of Oriel College & St Anne’s College, Oxford, a Fellow of the British Academy and the European Corporate Governance Institute and a member of the UK Competition Appeal Tribunal.
Peter Tufano is Peter Moores Dean and Professor of Finance at Oxford Saïd and a Professorial Fellow at Balliol College. As Dean, he seeks to advance the model of integrating business education within the university. His on-going work focuses on household finance, financial innovation, and fintech.

Source: Saïd Business School, University of Oxford