A pragmatist approach to corporate decision-making: The governance structure, corporate purpose and integrating stakeholder interests

In the past decade the number and role of purpose-driven companies has rapidly grown. Purpose driven The companies tend to have a focus on stakeholders or, more broadly defined, see themselves as stewards. They try to integrate a variety of values and interests in their managerial deliberation. This paper explores the role of how governance structures in developing purpose can enable the integration of a variety of interests and display certain values or purposes. From a pragmatist perspective we assess the ownership merits of four types of governance structure of companies: the corporation, the cooperative, the association and the foundation. We suggest that hybrid forms of governance structures conclude that and governance regulation determine has a determinant role in ensuring certain social purposes. ‘In between’ various forms governance structures, purpose develops.