Here are some interesting developments from around the world on the topics of purpose and social impact...
Mark Weinberger, Global Chairman and CEO of EY, wrote a great article for the World Economic Forum on how to find purpose in your work.
The idea that a company should stand for something bigger than profit has a long history in business. But in the last few years, it’s become central to the public dialogue. In fact, a recent study we conducted with Oxford University Saïd Business School found that public conversation about purpose has increased five times over since 1995.
But talking about purpose is the easy part. Really, it’s just the first step.
We hear more and more that organizations must have a “purpose.” Purpose is on the agenda of the World Economic Forum in Davos, and discussed by celebrity CEOs like Richard Branson of Virgin Group, who has said, “It’s always been my objective to create businesses with a defined Purpose beyond just making money.” Oxford University and Ernst and Young found that public dialog on purpose has increased five-fold between 1995 and 2016.
But is all this talk about purpose actually delivering business results?
Indeed, purpose was a term used repeatedly during the Summit, as all brands acknowledge that we are well past the stage of realizing that authenticity and transparency have become table stakes for successful marketers. Younger generations of consumers and employees, those who have grown up on social media and accessibility, are particularly driving the demand for cultures that foster access, visibility, achievement, ownership, collaboration and communication.
Eradicating diseases, mastering flight, near-instant global communication, going to the moon—humans have developed a taste for making the impossible possible.
Though we still face a daunting list of global challenges, we’ve learned that science and technology can uncover big solutions. But mind-blowing breakthroughs don’t just happen. They take teams of bright and dedicated people chipping away at the problem day and night. They take a huge amount of motivation, toil, and at least a few failures.
To solve our biggest problems, we need people to undertake big tasks. But what drives someone to take on such a difficult, uncertain process and stick with it?
There’s a secret to motivating individuals and teams to do great things: It’s purpose.
Social movements, rapidly growing organizations, and remarkable breakthroughs in science and technology have something in common—they’re often byproducts of a deeply unifying purpose. There’s a name for this breed of motivation.