northumbria research linknrl.northumbria.ac.uk/31253/1/quaker business models.pdf · • senior...
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Northumbria Research Link
Citation: Burton, Nicholas and Hope, Alex (2017) Responsible business? What can we learn from the Quakers. In: Public Lecture, 3rd July 2017, Westminster Quaker Meeting House.
URL:
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Quakers&Business:therise,fallandfuture
DrNicholasBurtonDrAlexHope
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• Ourresponsetotheconcernfora“NewEconomy”http://www.quaker.org.uk/our-work/economic-justice/new-
economy
• ProjectkindlyfundedbyQPSWandQuakersinYorkshire
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• MemberPickering&HullAM• DeputyClerk,MaltonLM
• SeniorLecturer,StrategyandCorporateResponsibility,NorthumbriaUniversity
• ConvenorofSpiritualityinManagement&LawresearchgroupandAcademicWorkingGroupatQ&B
• AssociateTutor,Woodbrooke• ManagementCommittee,Quakers&Business(qandb.org)
• Director&Trustee,Bootham School
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• WhoweretheQuakersinbusiness?
• SomereasonswhyQuakersweresosuccessfulinbusiness
• SomereasonswhyQuakerbusinessesdisappeared
• Theimpactofthecorporatelaw‘shocks’ofthemid-nineteenthcentury
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• Lessons:Corporategovernancematters– Nic
• Lessons:networksandmovementsmatter– Alex
• Lessons:valuesmatter– Alex
• Lessons:Businessmodelsmatter– Alex
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• AccountingPriceWaterhouse(1865)• BankingBarclays(1690),Lloyds(1765),Guerney (1775)• BiscuitsHuntley&Palmer(1822),Carr (1831),Jacobs(1851)• BrewingTruman&Hanbury (1781),Young&Co.(1831),Burton
(1842)• ChemicalsAllen&Hanbury (1715),Crosfields (1814),Reckitt
(1840),Albright&Wilson(1856)• ChocolateFry’s(1761),Huntley&Palmers(1822),Cadbury
(1824),Rowntree(1862)• Clockmaking Tompion (1670),Quare (1671),Graham(1738),
Huntsman(1740)
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GlassWaterfordCrystal(1783)EngineeringRansomes (1789),BakerPerkins(1878)LifeInsuranceFriendsProvident(1832)MatchmanufacturingBryant&May(1843)MetalsBristolBrassCompany(1702),LondonLeadMining(1705),Rawlinson(1720),Huntsman(1740),Ransome (1789)NewspapersNewsChronicle(1855)Paper&PackagingJohnDickinsonStationary(1804),E.S.&A.Robinson(1844)Pottery&ChinaCookworthy (1730),Champion(1773),RetailingLawsStores(1885)ShoemakersC&JClark(1825)ShipbuildingSwanHunter(1880)SteelmakingConsett IronCompany(1864),Stewarts&Lloyds(1859)TextilesGurney(1683),Were(1686),Barclays(1690)
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• “Thelaboratoryoftheindustrialrevolution”(Turnbull,2014)
• Manufacturing,canals,railways…….
• But
• Overend &Gurneyandthebankingcollapseof1866• Bryant&May– matchmakersstrike1888
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• MarketingFixedprices;pressadvertising.• OperationsVerticalintegrationofextraction,productionanddistribution• FinanceCommercialpaper• EmployeerelationsAdulteducationoncompanytime;hotmealsfor
employees;housingforemployeestobepurchasedovertimeatcostandlowinterestrates;workers’hostels;pensions;pensionsforwidows;indexedpensions;freemedicalanddentalservicesforemployees
• GovernanceFunctionaldepartmentorganisation;multidivisionalorganisation;participativemanagement;consensusbuilding;workscouncils;appealscommittees;profitsharing;cooperativeownership;employeeselectionofmanagers.
• AccountingFormalaccountingandauditing• R&DResearch&developmentdepartments;hiringofuniversity
professorsasconsultants.• BankingProvincialBanking;thecheque;billsofexchange
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• Trustworthinessandintegrity• Yeomanspirit• Higherwages• Employeewelfare• Supplierwelfare• Honesty– ie productmarketing• Philanthropy
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• Partnershipstructure– theQuakerowner-manager• Meetingoversight,self-regulation• Decision-making• Supportandadvicenetwork– awatchfuleye• Roles(Elder/Overseer)• BYM‘advices’• Avoidanceofdebt(andexpulsion)• Openbookpolicy(surveillance?)• Accesstothe‘Quakernetwork’
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• AdamSmith“TheInvisibleHand?”• Familyties• Geographicalreach(nationalandinternational)• Sharedrisk-taking• “Internal”capitalmarket• Educationandapprenticeships(barredfromuniversities)
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• 1844JointStockActand1856LimitedLiabilityAct
• Shareholdereconomy• Separationofowner/manager• Limitedliability• Impactoncorporategovernance• Dilutionofvalues
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• JointStockcompanies• Examples- Reckitt’sin1888,Crosfield’s in1896,Rowntree’sin1897andCadburyin1899
• Why?– Selectionforces,accesstocapitalmarkets
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• Atthesametime(broadly),thepoweroftheQuakernetworkswerediminishing– Marrying-out– Decliningmembership– Freelyavailablecapitalinthemarket– Seductionbycapitalism
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“Quaker”business
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• ScottBaderCommonwealth• Foundedin1921,giftedtoatrustwithcharitableobjectivesin1951
• “Foundedonthebeliefthatasociallyresponsibleundertakingcannotexistmerelyinitsowninterests.Itispartofthewholenationalandinternationalcommunityandassuchithasresponsibilitieswhichextendfarbeyonditsfactorywalls”
• Common-ownershipor‘trusteeship’wasconceived“asanalternativetoawar-basedcapitalisteconomyontheonehandandtocommunismontheother”.
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Whatcanwelearnfromthis?
• Corporategovernancematters• Networks/movementsmatter• Valuesmatter• BusinessModelsMatter
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CorporateGovernanceMatters
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CorporateLawMatters
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WhoamI?
• SeniorLecturer,BusinessEthics,NorthumbriaUniversity• AssociateLecturer,EnvironmentalManagement,Open
University• Co-ConvenorofResponsibleBusinessresearchgroup• SteeringGroupmemberUnitedNationsResponsible
ManagementEducationInitiative(UNPRME)• NOTaQuaker….
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Networks/MovementsMatter
QuakerBusinessMeetingYork
RochdalePioneers
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Networks/MovementsMatter
• Enterprises that choose to follow a business strategy, in which they seek to benefit both human beings and the environment.
• Pushes for "values-based" economic values where values represent social and environmental concerns at both global and local scales
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Networks/MovementsMatter
• 1,600 certified B Corps from 42 countries and over 120 industries
• B Corporations are a movement to use business innovation as a means to make not only profit, but also help alleviate poverty, build stronger communities, improve the environment and great jobs with purpose
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Networks/MovementsMatter
• Launched in July 2000 the compact now boasts a membership of some 9,269 companies from 164 companies resulting in over 43,000 public reports from companies on their ethical, responsible and sustainable actions
• An initiative which aims to assist companies in aligning their strategies and operations with universal principles on human rights, labour, environment and anti-corruption
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Networks/MovementsMatter
• Business-led charity presided over by HRH the Prince of Wales
• Membership of the core network stands at over 800 companies who engage with thousands more organisations to work collaboratively on economic, social and environmental issues
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Networks/MovementsMatter
• MostlySecular• Drivenbydiversesetofinterests• Weaklinks(ifany)between
personalandcorporatelife• International/Globalised/Dispersed
ContemporaryMovementsandNetworksMovementsofthepast
• Oftenrootedinreligion• Drivenbycommoninterests• Stronglinkagesbetweenpersonal
andcorporatelife• Local/National/Concentrated
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ValuesMatter
QuakerValues QuakerBusinessValues
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ValuesMatter
TooGeneric?....
Wheredocontemporarybusinessvaluescomefrom?
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ValuesMatter
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ValuesMatter
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ValuesMatter
EnlightenedCEOs?
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• MostlySecular• Drivenbydiversesetofinterests• Weaklinks(ifany)between
personalandcorporatevalues• International/Globalised/Dispersed• Drivenbyrangeofindividuals
ContemporaryValuesValuesofthepast
• Oftenrootedinreligion• Drivenbydiversecommon
interests• Stronglinkagesbetweenpersonal
andcorporatevalues• Local/National/Concentrated• Drivenbyindividuals
ValuesMatter
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BusinessModelsMatter
A business model describes the rationale of how an organization creates, delivers, and captures value
The process of business model construction is part of business strategy.
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BusinessModelsMatter
Traditional For Profit Business Model
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BusinessModelsMatter
Traditional Non-Profit Business Model
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BusinessModelsMatter
The Responsible Business Model domain
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BusinessModelsMatter
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BusinessModelsMatter
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BusinessModelsMatter
The Quaker business model
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BusinessModelsMatter
The cooperative business model
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BusinessModelsMatter
Circular Economy Business Models
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BusinessModelsMatter
Business Model Innovators
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Conclusions
Q
• Corporategovernancematters• Networks/movementsmatter• Valuesmatter• BusinessModelsMattermore
thanever…
WecanlearnmuchfromQuakerBusinessofthepast.
Howcanweadapttheselessonsforfuturebusiness