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Three things purpose is… and three things it’s not
Purpose is more than ambition or mission
Doubling the size of your business is an ambition. “Making sustainable living commonplace” is a purpose: one which has led consumer goods giant Unilever to adopt the vision of doubling its business while reducing its environmental impact and promoting positive social outcomes.
Purpose is more than CSR
CSR is great for establishing “basic hygiene” – clean supply chains, good working conditions – and for “giving back” to the community through acts of philanthropy. But purpose goes further. With CSR, companies do good as an add-on (or, dare we say it, an offset) to their usual activities. Purpose means putting positive change at the heart of your products, services and strategy.
Purpose is more than environmental sustainability
By all means keep recycling, choosing green suppliers and thinking before you print. But purpose gives us permission to think about all of the major global challenges we face.
Purpose IS a growth strategy
Purpose speaks to the very core of your business. This is what makes embracing purpose such a powerful strategy for growth. A clear sense of purpose will guide you into new markets, new products and towards new customers and partners.
Purpose IS a purchase trigger
Purpose inspires customers. A 2012 Edelman survey revealed that over half of consumers will pick the purposeful brand when price and quality are the same.
Purpose IS an investment driver
The evidence shows that having a clearly communicated sense of purpose driving your business at its core will build confidence, drive business investment and attract new investors.
Get your purpose clear, and it will act as both your engine and your compass. Can you afford not to build your business on purpose?
(You can read this article in full over on SALT Magazine's website).