10204: Social Purpose in Theory and Practice: Advancing Understanding and Application

This panel symposium will examine the evolving concept of social purpose, exploring its theoretical boundaries, practical challenges, and strategic implications for organizations and leaders. Despite the prominence of social purpose, ambiguities persist around its relationship with related concepts such as organizational purpose, corporate social responsibility, and environmental, social, and governance frameworks. The panel, which will include Prof. R. Edward Freeman, Prof. Mette Morsing, Prof. Rupert Younger, Prof. Alex Newman, Dr. Rita Mota, and Dr. Nathania Chua, will examine these intersections, addressing concerns about "purpose-washing" and the authenticity of corporate social initiatives. Panelists will consider whether social purpose requires new theoretical frameworks or can be understood through existing perspectives, such as stakeholder theory. Discussions will also focus on embedding social purpose within core business strategies, navigating perceived tensions between profit and societal impact, and aligning initiatives with diverse stakeholder expectations. The session will highlight the unique contributions of organizations with different legal structures, such as not-for-profits and social enterprises, and their role in fostering societal well-being. Featuring internationally renowned scholars with diverse expertise, the panel aims to advance the discourse on social purpose by addressing key conceptual and practical questions. Attendees will gain insights into emerging research, promising frameworks, and actionable strategies for integrating social purpose into organizational practice to create sustainable value for both businesses and society.