Since 2019, and the PACTE law, companies have been able to change their articles of association to become a société à mission. What does the mission-based company really hide, and what are its main advantages? In France, by May 2022, we already counted more than 630 companies that had become mission-based companies... including iQo.
"Unleashing collective genius to co-construct desirable futures" is the ambition we have set ourselves, collectively, to reinvent the world of consulting in the age of Positive Impact and the transformation of business models driven by data, digital...
Contents
What is a misssion company?
Article 176 of the law of May 22, 2019 on the growth and transformation of companies (known as the PACTE law), introduced the notion of mission-based companies.
However, it was in the 2010s that the concept of the mission-driven company began to emerge in the United States. In France, it wasn't until 2015 that researchers at the Ecole des Mines de Paris defined the term mission-driven company.
For a company, this meanspublicly affirming its raison d'être, as well as one or more social and environmental objectives that it has set itself to pursue in the course of its business.
While a majority of French people believe that a company should be useful to society as a whole, even before its customers, employees and shareholders, public authorities have noted that the definition of a company in French law does not recognize the notion of social interest. The mission-driven company aims to fill this gap.
What are the advantages of becoming a mission company?
Becoming a mission-driven company offers many advantages:
- give the company a real raison d'être, and put it on a solid footing.
- create coherence between the company's strategy, values and behaviors. This approach is increasingly sought after by recruitment candidates who want to invest in a project, not just land a job.
- adopt an innovative approach, because behind the mission-driven company (and therefore the mission it sets itself) lie objectives and actions to be implemented
- federate teams around shared values, and involve employees in a strategic vision that is guided by more than just numerical targets.
Beware of the purpose washing hidden behind some mission companies
The search for meaning and responsible brands in civil society is leading more and more companies to become involved. The mission-driven company is the expression of this commitment in the articles of association. It's a commitment not only to do no harm, but more importantly to improve their impact and create desirable futures.
The purpose washing can be defined as advertising or communication practices in which a company claims a commitment to a cause, without this declared commitment actually translating into reality.
The term purpose washing is directly inspired by greenwashing for environmental issues.
3 key principles to avoid purpose washing
- No longer simply aiming to reduce its negative impact, but create a positive impact
- Move away from short-term Return on Engagement (ROE) logic and focus on the long term. It's the hallmark of a company with a mission to establish a clear guideline and pursue it over time, rather than changing it regularly.
- Creating new, more inclusive and sustainable growth models to help customers make a lasting positive impact
In this article, we remind you of the risks of purpose washing for companies.
Why is iQo a company with a mission?
From day one, we wanted iQo to be part of this commitment to change and sustainable impact. Behind this promise, which we have expressed in this manifestomanifesto, we wanted to go even further and mark our commitment in our articles of association by becoming a certified B Corp certified since November 2022.
At iQo, our values are the common foundation of our construction and growth: Authenticity, Audacity, Humility and Sharing. Our consultants, managers and directors and those who join them are committed to
- Participate in the co-development of a new community. iQo is a company with a mission ("Unleash collective genius to co-construct desirable futures").
- Become Hybrid-Makers for a consulting approach rethought by Data, design thinking and People
- Imagining a transformative leadership model
- Integrate a strong Deeptech vision into our experience.
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