Purpose in Organizations: A Sectoral Analysis of the Specific Public Benefits of Italian Benefit Corporations

This thesis examines the evolution of organizational purpose towards integrating social and environmental responsibilities, focusing on the role of Benefit Corporations (BCs) and their Italian counterparts, Società Benefit (SB), in the Processed Foods industry. It analyzes how these organizations define and pursue a “public benefit” (or “common benefit”), evaluating the alignment of their declared objectives with the sustainability topics outlined by the Sustainability Accounting Standards Board (SASB) and assessing their transparency through impact reporting practices. Chapter 1 examines the evolution of corporate purpose beyond profit maximization, highlighting the emergence of Benefit Corporations and their legal implementation in Italy as a framework for balancing financial goals with prosocial commitments. Chapter 2 explores the role of non-financial reporting (NFR) in communicating corporate purpose, offering a comparative overview of key sustainability reporting frameworks, with a particular focus on SASB’s industry-specific standards. Using data from the National Research on Benefit Corporations 2024, Chapter 3 focuses on Società Benefit in the Processed Foods industry. The analysis consists of two phases: the first investigates how these organizations’ statutory common benefit objectives align with material and non-material sustainability issues, as defined by SASB+. The second assesses their compliance with impact reporting requirements, analyzing the regularity of their reporting practices and identifying any delays or discontinuities in publishing reports. Furthermore, a content analysis of recent reports from a sample of compliant companies evaluates whether their statutory commitments are translated into tangible actions and whether their stated objectives are effectively achieved. By studying the dynamics of Società Benefit in the Processed Foods industry, this study offers insights into the practical implementation of this innovative business model, laying the basis for further exploration of the phenomenon.