Purpose Economy – Ownership and Responsibility. How do we bring them together?
This question was dissected in a keynote speech and discussed by experts in politics, and representatives from established SMEs, start-ups and other organisations representatives. In February 2024, over 120 stakeholders from the Bavarian economical sector, politicians and press gathered in Munich to honour various examples of good business and discuss a harmony between ownership and responsibility.
The Economy for the Common Good in Bayern honoured almost 50 companies and organisations for their sustainable business practices and the completion of the Common Good Balance Sheet in the past year 2023.
Responsible ownership means that the owners of the company have voting and participation rights, but do not share in the profits. This is intended to ensure that the business primarily serves the realisation of the company’s purpose and not the shareholders’ pursuit of profit.
Overall, the panel discussion provided a broad overview of the concept and practical organisation of fiduciary entrepreneurship. It became clear that a new legal form fulfils the wishes of many companies looking for succession solutions and also increasingly those of company founders who want to establish this ownership structure. The Economy for the Common Good takes up the issue of ownership and co-decision in the Common Good Matrix and considers it expedient to create spaces for employees in companies to experience democratic action and decision-making.
