Mishcon Purpose Framework

Stakeholder Engagement

The next step is to assess the role of stakeholders in your purpose strategy and to involve them in its development. 

Stakeholder engagement enables context, risks and opportunities to be assessed more effectively. Crucially, this process also reduces potential gaps between stakeholders' expectations and management's goals and strategy, identifying and reducing the risk of potential liabilities. 

Vision and Value Creation Goals

Your vision and value creation goals should align with your purpose. They should be SMART (specific, measurable, achievable, relevant and time-bound) and provide a framework from which to measure success. 

Increasingly, business performance is not only measured on financial capital, but intangible, natural and social capital. To benefit from these forms of capital, businesses must consider their social and environmental impact. 

Inventory of Capitals and Audit

For your business to be successful, all assets and liabilities must be managed effectively. These include intangible assets, which may not be reflected in internal reports and annual accounts. These assets and liabilities should be identified to establish their impact on your ability to create value and raise capital. 

Governance, Compliance and Corporate Reporting

Your company’s governance provides the framework for achieving its purpose, value creation goals and vision. It also ensures effective management and compliance with regulatory and legal obligations. To build long-term value, governance must embed ESG into its agenda and be reported to your stakeholders.