Here are 7 practical tools and frameworks to help your business realize the potential of its purpose — and be a beacon of hope in a time that sorely needs it.
The business world is facing a profound moment of disruption. As economic and political chaos mount, many businesses are questioning how to remain relevant and resilient in this rapidly changing landscape. With so much turbulence, they’re scrambling to find a compass to help them navigate the day to day. In times like these, having and delivering on your social purpose becomes that compass.
Defining and embedding a social purpose for your business — a purpose that creates a better world in a way that is relevant to your business and your stakeholders — acts as your North Star. It’s the guiding light that keeps you steady and centred on your foundational values, no matter how choppy the waters get.
And research shows that purpose-led companies are better equipped to adapt to changing market demands, build deeper relationships with customers and stakeholders, and attract top talent who share their vision (anecdotally, businesses with a social purpose attract nearly double the number of quality applicants). As we saw during the COVID pandemic, a clear social purpose fosters trust — essential for navigating turbulence. Now is the time to double down on fulfilling your company’s purpose commitment, ensuring you both create and reap the inherent social and business benefits.
