We have a new project document! Our consultation document, “A Social Licence for Business”, explains why we need to reshape the relationship between business and society after COVID-19. In addition, we propose the “Social Licence Model” as a useful framework for reforms.
During the pandemic, governments across the globe have stepped in as buyer and lender of last resort for private sector firms. Governments have taken on huge debt for future taxpayers. This support is both welcome and necessary. However, it should also lead to an urgent conversation about the proper relationship between business and society. More specifically, we need to explore ways in which the power of business to do good can be harnessed to help us meet the very significant challenges society faces.
Our key findings are:
- There is a need to ‘build back better’ post-pandemic.
- However, current regulatory moves are insufficient to achieve this.
- Steps in the right direction are being taken …
- … but reshaping business-state relations requires rethinking the private sector’s social contract.
- The social licence model could provide the necessary framework.
The document, with full references, can be found here. Also, you can find more information on the project and the social licence model here.
We welcome your thoughts and feedback. Please get in touch via e-mail and follow us on twitter @reshapebusiness.