More and more companies are becoming aware of the importance of their role as active agents that can contribute to a better world. And one way to achieve this is to adopt a purpose that goes beyond financial gain—a reason for being that goes beyond “I’m here to make money.”
What’s more, 2020 accelerated this process, forcing companies to rethink their priorities: putting their customers, employees, and communities ahead of profit, and using their capabilities to respond to the health crisis.
So, where are we headed?
1. Authentic purpose
Brand purpose must be real, consistent, transparent, aligned with corporate culture, and activated through brand performance. It must be aligned with the Sustainable Development Goals. Purpose will shape decision-making and drive competitive social transformation.
2. Storydoing will replace storytelling
Storytelling will evolve into “storydoing,” as companies take action first and communicate about it afterward—less talk, more action!
3. Rethinking capitalism
The purpose of a corporation is no longer just to maximize profits, but to serve and create value for all stakeholders. The shift from a shareholder-centric to a stakeholder-centric model is accelerating.
4. Employees as drivers of change
The rapid pace of business adaptation in 2021 has been remarkable, bringing new requirements and opportunities with a greater focus on employee well-being and culture.
5. Collaboration between companies
Companies and organizations will need to work together to address society’s needs. Businesses that were once competitors will become allies.
6. New purpose-related professions
New professions and professionals will emerge, such as purpose makers and impact officers, among others, within companies. Businesses specializing in brand purpose and social impact have emerged to meet organizations’ new communication needs.
So, what do you think? Do you also believe we’re heading in the same direction?
