040. Colin Mayer: Putting Purpose into Practice

“The best organizations encourage people to work together in teams and groups of people, promoting benefits that can be conferred on other parties – where the benefits are of considerable significance – to not just the customers and those organizations, but society and the natural world at large. That is what we need to be seeking from the organizations that we are creating, throughout the economies and nation-states in which we're operating, to help us address the problems that we're facing.” What does it take for an organization to deliver its purpose? How can we move from nice-sounding statements to putting our purpose into practice? In this fascinating conversation with Professor Colin Mayer, we explore what the best organizations are doing. We also discuss the role of trust and relationships in business, lessons from the financial crisis, how we can communicate trust – and Colin’s definitions of ‘Sin-integrity’ vs. ‘Saint-tegrity’. Colin Peter Mayer is a Professor of Management Studies at the Saïd Business School at the University of Oxford, and is the author of ‘Prosperity’ and ‘Putting Purpose Into Practice’. He is also a Professorial Fellow of Wadham College, Oxford, and an Honorary Fellow of Oriel College and St Anne's College, Oxford. In 2017, he was appointed Commander of the Order of the British Empire for services to business education and the administration of justice in the economic sphere. Duration: 55:13