What does the duty to act in good faith in the best interest of a corporation require of directors in practice, and how can purpose serve as the guiding compass for making critical organisational decisions? Gain insights from a director panel and leading philosopher and business professor, R. Edward Freeman, with real-world examples to assist you navigate the challenges in making decisions in the best interests of the organisation.
Expiry Date - Thursday, 14 November 2024
Duration - 60
In today's dynamic business landscape, organisational purpose serves as a key lever in shaping decisions, building stakeholder trust, and creating sustainable and long-term value for stakeholders.
Under Australian law, directors have a statutory and fiduciary duty to act in good faith in the best interests of the corporation. The Walker legal opinion and AICD practice statement on directors’ ‘best interests’ duty made it clear that while shareholder/ members’ interests are central, directors can, and should, also consider a range of other stakeholder interests. Directors need to exercise discretion in considering the intersection of these interests to ensure long-term performance and value creation.
This webinar will discuss the pivotal role that corporate purpose can play for directors in identifying the best interests of an organisation and shaping decision making. Featuring an interactive Q&A session with a distinguished panel, we will:
- Discuss the Walker legal opinion’s key findings and the synergies that can often exist between the interests of shareholders and other stakeholders
- Explore real-world case studies showcasing successful purpose integration in decision making
- Share insights into measuring the impact of a purpose-driven approach
- Examine ways to navigate challenges and pitfalls on the path to purpose-driven decision making.
By the end of this webinar, you will have gained practical strategies and tips on how to harness corporate purpose in decision making.
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