Making the Case for Purpose
EXPLORE
To survive and thrive in an increasingly competitive marketplace, companies must have a purpose beyond profits — a sentiment put forth by leading business and economic leaders, including the Business Roundtable and the World Economic Forum.
Best Buy CEO Corie Barry put it this way:
“The purpose of this company is not to make money. It is imperative to make money, but it is not the purpose. Our purpose is to enrich lives through technology.”
2.3x
higher growth rate for companies with a clear purpose
McKinsey, 2021
of investors expect companies to have defined their corporate purpose
76%
Harvard, 2020
Building a business that operates for society and with society demands long-term vision and a flexible framework to support it. To do this, we believe that companies must start by embracing the following principles:
1. Lead from the C-suite to set purpose vision
2. Put employees at the center
3. Operationalize and embed purpose throughout the enterprise
higher average operating margins for companies with high ratings for ESG performance
3.7x
Accenture, 2021
of employees say the more socially and environmentally responsible their company becomes, the more motivated and loyal they become
59%
BBMG, 2021
"Every single social and global issue of our day is a business opportunity in disguise."
Peter F. Drucker
of CEOs say they are putting more emphasis on corporate purpose
68%
Fortune + Deloitte, 2021
of CEOs believe taking action on social challenges will help them competitively
80%
EY, 2019
of global consumers prefer to buy from companies that stand for a purpose that reflects their values and beliefs
63%
RepTrak, 2021