As a not-for-profit think-tank that exists to inspire and enable business to be a force for good in society, our goal has been to encourage a business approach that creates value for staff, shareholders and society through a focus on purpose, values, relationships and the long-term. In 1996, Tomorrow’s Company defined tomorrow’s company as one that:

• Clearly defines its purpose and values, and communicates them in a consistent manner to all those important to the company’s success;

• Uses its stated purpose and values, and its understanding of the importance of each relationship to develop its own success model from which it can generate a meaningful framework for performance measurement;

• Values reciprocal relationships, understanding that by focusing on and learning from all those who contribute to the business, it will best be able to improve returns to shareholders;

• Works actively to build reciprocal relationships with customers, suppliers, and other key stakeholders through a partnership approach; and

• Expects its relationships to overlap and acts, with others where necessary, to maintain a strong licence to operate.
   

Twenty years later, in 2016, in the light of all the organisation’s learning and experience in working with companies and investors, Tomorrow’s Company report, UK Business: What’s Wrong? What’s Next? restated this as three principles. These are:

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• A purpose beyond profit and a set of values that are lived through the behaviours of all employees to create a self-reinforcing culture;

• Collaborative and reciprocal relationships with key stakeholders – a strong focus on customer satisfaction, employee engagement and, where possible, collaboration with suppliers, alongside working with society; and

• A long-term approach that embraces risk – investing long term and embracing disruptive innovation.