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Why "purpose" should be on every organization's priority list

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Why "purpose" should be on every organization's priority list

  1. 1. Why “purpose” should be on every organization’s priority list Kristien Schrauwen
  2. 2. Society is facing many challenges today
  3. 3. People demand positive action, also from businesses People, with the power of social media, force businesses to do more than simply sell products and pursue profits Fulfilling these ambitions [, the global goals for sustainable development] will take an unprecedented effort by all sectors in society — and business has to play a very important role in the process. United Nations Global Compact “ ” Journalists founded a slave free chocolate brand: Tony’s Chocoloney Consumer movements demanding alternatives from businesses
  4. 4. Some companies show that making profit and doing good can be fundamentally integrated By creating fundamental value through their core business Alpro brings innovative plant-based foods to millions of consumers, tackling health challenges of both people and the planet. Providing shoes, sight, water, safe births and bullying prevention to people in need is part of how TOMS approaches doing business. Patagonia, recognizing they are part of the problem, focuses on specific things they can do to reduce, neutralize, or even reverse the root causes of climate change. Click on the pictures if you want to read more
  5. 5. Others are following in their footsteps by launching new initiatives Click on the items if you want to read more In collaboration with recycling shop Ateljee, IKEA Ghent launched a collection created from fabric surpluses through social employment Janssen launched Dementia.com to provide people and family members with resources on the causes, symptoms and treatments for dementia “ ” Joker vacations are designed with respect for people and nature
  6. 6. This, again, impacts our collective expectations As consumers, employees, and even shareholders M A T U R I T Y 1 2 3 Purpose-driven: focused on creating fundamental value for our society beyond profits, e.g. creating a better world through your activities Customer-centric: creating real value for consumers through value propositions and throughout the entire customer journey Value-driven: operating ethically and with respect for all involved stakeholders We expect companies to work towards being purpose-driven:
  7. 7. Much like technology a few decades ago, purpose has now become a business imperative. In today’s world, running an organization without an intentional emphasis on purpose for employees and customers is like running an organization in the early 1990s and failing to implement technology. Aaron Hurst in ‘The Purpose Economy’ “ ”
  8. 8. The first important step is to have a committed CEO “Next to our moral obligations to address the global challenges, it is also an enormous business opportunity. That's the equally exciting part.“ – Paul Polman, CEO Unilever (read the full interview here) “For Joker, profit is like health: you need it, but it is not the only thing you live for.” – Bob Elsen, founder of Joker Authentically committed CEOs build the right context for sustainable initiatives “We identify issues that are relevant to the country and demonstrate how we can contribute through our electrification, automation, and digitalization portfolio, through our healthcare technologies and through our corporate social responsibility activities. We call this approach “Business to Society” (B2S).” – Joe Kaeser, CEO Siemens (skim through the interesting sustainability report here)
  9. 9. How can you support your CEO? The Embedding Project* identified a set of tactics that have worked for others: Read the full guide on how to support your CEO here *The Embedding Project is a global public-benefit research project that helps companies to embed social and environmental factors across their operations and decision-making processes 1) Help your CEO create a strong business case 2) Create opportunities for your CEO to experience the issues first-hand 3) Help your CEO learn from influential peers 4) Help your CEO let the business “fail small” 5) Leverage the interests of key customers 6) Help board members be better sustainability advocates 7) Create opportunities for your CEO to make public commitments 8) Create opportunities for your CEO to receive recognition for this work
  10. 10. Purpose-driven companies benefit in many different ways They all contribute to economic sustainability Revenue growth • From improved reputation and a stronger brand • From sustainable innovation meeting unmet needs Financial performance • Savings (energy, water, materials, waste …) • Reduced risks of inaction (reputation, compliance) • More investor interest Marketing effectiveness • Competitive advantage / differentiation • Decreased costs (earned advertising, word of mouth) HR effectiveness • Employee ambassadorship • Employee engagement through meaning • Reduced costs for hiring and retaining top talent
  11. 11. Let’s discover together how other companies and marketing departments approach purpose Fill out our 3 minute survey …and stay tuned! CLICK HERE

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