When Strategy Meets Purpose
Credit
CPE:0.5
Publisher
IMA
Description
Effectively realizing corporate purpose requires mediating, integrating, and balancing the interests of different corporate stakeholders and their goals. And the trade-offs that result from such a balancing act need to be acknowledged, measured, and communicated as the organization reports the efforts and performance connected to the creation of long-term sustainable value. Moving from the articulation of a company’s purpose to execution requires strategy and capital allocation with a comprehensive management system able to link sustainability strategies with financial returns. It involves reconciling competitiveness and sustainable growth within the context of an inclusive business model to take advantage of the opportunities and face the challenges of the market.
Importantly, this requires the development of new measurement practices that can capture whole processes of long-term value creation—taking into account the social and environmental externalities produced by its operations and, especially, its products and services, as well as how the multiple and heterogeneous resources provided by the company’s stakeholders contribute to its financial and nonfinancial performance. This course is designed to help management accountants to better understand how material environmental, social, and governance (ESG) issues matter to financial performance.