WHY PURPOSE
There is no denying that our world is in crisis – environmentally, socially, politically. Dynamics are changing; as citizens and as consumers, people expect both governments and corporations to do more.
For governments, this means accelerating delivery on long-term commitments, turning strategy into action.
For private sector, this means changing the way they think about “performance” and success - moving from short-term focus on shareholder value, to longer term focus on stakeholders through multi-capital model.
Purpose-led businesses are repeatedly shown to outperform their peers across categories, growing up to 28x as fast.
Over 60% of consumers say they would switch brands because of their stand on social issues
Public sector RFPs and increasing no. of private sector hinge on demonstration of purpose-led initiatives
65% of shareholder resolutions are now tied to ESG issues
“Only a crisis – actual or perceived
– produces real change.”
- Milton Friedman, 1982
FOR PRIVATE SECTOR
There is an increasing focus on the need for “purposeful business” - that is, for businesses to “solve the problems of people and planet profitably, and not to profit from causing problems”.
For this to work in practice, efforts towards achieving ESG & SDG goals can no longer be siloed within an organisation, but must become a core strategic component. We see this as a pivotal change from treating Purpose through a culture lens, to one of understanding Purpose as Strategy.
There are a wide variety of ways that taking a Purpose-led approach can help businesses to achieve competitive advantage, drive performance, and create long-term value.
Purposefy helps businesses to unlock and realise those opportunities at an operational level.
FOR PUBLIC SECTOR
For governments, public sector institutions and parastatal organisations, the rationale behind investing in Purpose-driven initiatives is arguably more explicit. However, working toward achieving the UN SDGs, and delivering against the commitments laid out as part of COP 15, COP 27 and other agreements still presents significant challenges for the public sector.
In some instances this may centre on accelerating implementation of an agreed strategy into actionable plans and partnerships; in others, that strategic vision may yet require development.
Purposefy help answer questions such as: how to determine where investment will have the most impact; how to operationalise initiatives across sectors; how to use technologies to accelerate achieving key objectives; and how to enable domestic businesses to work with the public sector in pursuit of societal goals.
