Strategy for impact certificate Strategy for impact certificate
Repurposing business for a greater good
Which people, governance, legal and financial mechanisms are up to the social, human, and environmental challenges we currently face? How can organizations and business models meet both individual values and needs, as well as collective challenges? How and to which extent can we build purposeful organizations, for a greater good? The aim of this certificate is to connect the dots, from leadership to purpose-based governance, through the necessary reflection on the company's role in the face of the challenges mentioned above.
The certificate also aims to revisit the core disciplines of management to build the company of tomorrow. It focuses on four key building blocks – governance, strategy, finance/performance, and people/leadership - that together form the basis for becoming agents of change who can transform corporations into more responsible and better-aligned organizations.
This certificate is run in a five-week intensive format, focusing on how to become an agent of change with a broader vision of business. Each week focuses on one of the key building blocks – governance, strategy, finance/performance, and people/leadership – that together form the foundations to build more impactful corporations.
The program combines a variety of theoretical and hands-on learning methods. Each week consists of four days of lectures and case studies, as well as one day of individual and group assignments (students work on a business transformation project throughout the certificate). Classes are delivered by high-profile inspirational speakers from academia, companies, and financial institutions.
The program focuses on the strategic, financial, accounting, and human levers to pull to repurpose business and make a positive impact.
WEEK 1: FIRMS, SOCIETY AND PURPOSE
- Purpose and the corporation: comparative corporate law history
- Old and new criticisms of firms, new challenges and responses
Corporate law and corporate history will structure your thinking and frame the discussion about the definition and responsibilities of the corporation, to determine what is new, or not, and with which purpose.
WEEK 2: STRATEGY FOR POSITIVE IMPACT
- Making purpose strategic: impact on the P&L and balance sheet
- Revisting the strategy toolkit: business and corporate strategy, stakeholder analysis
- Conditions for building a purpose-based ecosystem
Old analytical frameworks only offer outdated and barely effective solutions for current situations. You need to grasp the impact of current challenges (on resources, on risk, on returns) on your business plans, IRR and WACC calculations. We’ll equip you with hands-on tools and check-list questions to ask before developing positive impact strategies for success.
WEEK 3: ACCOUNTING FOR IMPACT
- Regulations and obligations: EU vs. RoW (&US)
- Multi-capital view of accounting
- Internal and auditable metrics
- Monitoring purpose: from purpose to KPIs
Accounting and accountability are the two weapons that provide evidence of your impact. Accountability of impact while demanding procures your organization with cost and financial advantages. You must know the tricks, the traps, and the best-in-class practices to develop and defend your business case.
WEEK 4: GOVERNING FOR PURPOSE
- Open governance frameworks adapted to the interests of stakeholders
- Simulation: tomorrow’s extraordinary General Assembly
Not all legal forms impose the same constraints on impactful organized action. Some forms prioritize shareholder value maximization, while others are amenable to dual objectives, which include social and environmental impact. Legal forms of business therefore determine which kind of governance the impactful firm requires.
WEEK 5: PURPOSE AND ME
- Purpose: from BS to success
- Purpose-based attraction and retention
- Why purpose is different from CSR from an HR perspective
- False promises and cynicism in management
Purpose-based businesses place people at the heart of the organization. Employee attraction and retention, incentives, and culture must therefore be thought of and managed with care. Purpose-based firms can be the new face of management and a vehicle for a new form of sociability in the workplace.
Thanks to our partnership with Mazars, you’ll get the opportunity to work on a real-life business transformation project on strategy for impact. You’ll have carte blanche to apply the content of this Certificate along with your own knowledge to respond to the critical challenges of willing companies facing the tough reality of their journey to ‘strategy for impact’.
Luc Paugam, is an Associate Professor of Accounting and Management Control, holds the Mazars Chair for Purposeful Governance. He also holds a Ph.D. in financial accounting and a MSc in Finance from Université Paris Dauphine. He is a former student of ENS Paris-Saclay and a CFA charterholder. His research focuses on issues surrounding financial reporting of M&As (goodwill, intangible assets), corporate whistleblowing, CSR, and bank reporting.
Rodolphe Durand, Professor of Strategy and Business Policy, is the holder of the Joly Family Purposeful Leadership Chair and the Founder and Academic Director of the Society and Organizations Institute which he launched in 2009. Rodolphe’s primary research interests concern the normative and cognitive dimensions of firms' performance, and especially the consequences for firms of identifying and coping with the current major environmental and social challenges.
Launched in 2008, the Society & Organizations Institute is an interdisciplinary Institute at HEC Paris that brings together over 60 researchers and professors. Together, we carry out research, teach and implement ideas to organize and lead our responses to the daunting challenges of our time. These contemporary challenges include climatic constraints, social inequality, loss of purpose, technological disruption, epidemics, social contestation, ethical imperatives, and liberalization and regulation.
The Purpose Center’s research, teaching, and actions focus on unleashing human potential by placing purpose at the heart of leadership, and on understanding the conditions that make purpose a driver of both personal fulfilment and organizational performance.
It is supported by the following sponsor: