REPORT LAUNCH - What is a purpose-driven business?
We are pleased to announce our inaugural research paper. One of many that we have in the pipeline.
“What is a purpose-driven business?” - This may not seem like a ground-breaking news-worthy title but it is still a critical one.
This world does not need any more virtue signalling companies, it needs companies where their purpose is deeply embedded in their DNA.
Society does not need businesses to simply "do corporate-social responsibility (CSR)", it needs businesses that have purpose extensively and congruently rooted in the company structure.
We don't want "woke businesses" that are quick to comment on Twitter but take no action to remedy systemic maladies. We want business that takes an active and positive interest in fixing the problems we collectively face, no longer profiting from causing those problems in the first place.
This paper aims to set the scene for creating a shared and common understanding of what it means to be purpose driven. It distinguishes the difference between charity, social enterprise, purpose and profit driven companies and explains they all have a role to play. It expands upon previous work that outlines a series of questions or indicators that help you to tell if a company is purpose driven.
You should read this if:
You lead a business: so that you can see if purpose is rooted in your actions how other stakeholders might assess you, from your staff, your suppliers, your investors and many more.
You work for a company: so that you can assess how far the business is along the purpose-driven pathway. Becoming purpose-driven doesn't happen overnight and often needs the cajoling and support of the workforce.
You work in policy: so that you can become more adept at spotting purpose-washing as opposed to genuine purpose.
This work will be followed by two other pieces of research that build on this work. The first, due shortly, will set out the case for purpose-driven business. The second, which will be completed and released in stages over 2020 and early 2021, will set out ideas on how the full power of business to benefit people and the planet can be unleashed in the UK and beyond.
