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The Business Case for Purpose

Organizations that embrace Purpose as a key strategic business driver out-perform those that don’t. As a consequence, Purpose is fast becoming the management philosophy of the 21st Century for leading corporations.

 

There are many studies that make the business case for Purpose including the ten-year growth study by Jim Stengel, former Global CMO of P&G, who together with Millward Brown set out to show that brands resonate better with people when they centre their businesses on the ideal of improving people’s lives.

 

From a global sample of 50 000 brands, the 50 highest-performing businesses were those driven by brand ideals centred around improving people’s lives. These same 50 brands grew three times faster than their competitors and outperformed their competitors performance in the S&P 500 by some 400 percent

Watch this great video by Jim Stengel to learn more about how he views Purpose. And read more about  Jim’s book GROW here.


 The success of the B Corp movement is also proof that the “doing good and doing well” philosophy is growing amongst corporations large and small around the world. Today, there is a growing community of more than 1,600 Certified B Corps from 42 countries and over 120 industries working together toward 1 unifying goal: to redefine success in business. Watch their explainer video here and learn more about the B Corp movement here.

Several other papers support this hypothesis including:

  • “The Business Case for Purpose” by Harvard Business Review and EY Beacon Institute. Read the report here.
  • “Sustainability Pays” by Natural Capitalism Solutions, an annotated collection of reports that together create the definitive business case for sustainability. Read the report here

Super Bowl 50 – An Event Built on Purpose

Purpose + Sport’s recent work with the San Francisco Super Bowl 50 Host Committee for Super Bowl 50provides a compelling purpose driven business case in sport. As the most shared , most participatory and most giving Super Bowl ever and all delivered in a “net positive” way – socially, environmentally and economically – the Host Committee delivered Super Bowl 50 as a transformative event setting a new benchmark for future Super Bowl’s. By strategically embedding a purpose of helping to close the opportunity gap for young people living in the Bay Area, Super Bowl 50 provided a platform to leverage the worlds largest single one day event do good and do well. Watch Neill Duffy’s presentation on the Super Bowl 50 “Net Positive” case at the 2016 Responsible Business Summit in New York here.

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