New Airmic publication addresses corporate purpose

Risk management association  Airmic addresses corporate purpose in its latest thought leadership publication, Roads to Repurposing, released today as part of the 2021  Airmic conference. It offers an in-depth examination of the concept of corporate purpose, aimed at business leaders, policymakers and risk professionals.

The report looks at what is being covered under the label of ‘corporate purpose’ and ‘repurposing’, why these ideas have acquired such an urgency within the business world, and how companies are applying and using them to improve their business performance and manage risk.

This marks the fourth thought leadership publication within Airmic’s “Roads to” series, and is published in association with ACCA, Crawford, and Lockton, with the University of Oxford Saïd Business School as a knowledge partner.

There is pressure from all sides to state or to clarify a corporate purpose, but there are payoffs too. This also brings a challenge for the risk management profession. The report explains why risk professionals cannot stand on the side-lines of this debate, but must lead and shape it in their own organisations.

Julia Graham, CEO, Airmic, commented:

“Over the last two years we have seen a visible change in the level of professional authority of the risk profession. No longer residents of the back office, brought to the fore when an answer to a technical question was needed – but who now sit as trusted advisors at the shoulders of organisation leaders. This report will further support the profession and their business leaders in building sustainable and resilient organisations.”

Anette Mikes (pictured), associate professor, University of Oxford’s Saïd Business School, commented:

“This is an important crossroads for the risk profession. Risk managers have a mandate to foster genuine communications about risks in their organisations.

“They are in a pole position to take up the mantle of the purposeful organisation, and develop the tools and facilitate the processes that can effectively help their colleagues live the purpose and priorities of their organisation.”

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