“PROFIT AT ALL COSTS” MINDSET IS BOTH DESTRUCTIVE AND UNPOPULAR.
Nearly 200 chief executives, including the leaders of Apple, Pepsi and Walmart, tried on Monday to redefine the role of business in society — and how companies are perceived by an increasingly skeptical public.– New York Times
“While each of our individual companies serves its own corporate purpose, we share a fundamental commitment to all of our stakeholders,” the group, a lobbying organization that represents many of America’s largest companies, said in a statement. “We commit to deliver value to all of them, for the future success of our companies, our communities and our country.”
This announcement may signal a turning point for American capitalism and is likely driven by increasingly undeniable market forces from consumers who have shown far more loyalty to socially responsible brands.
As a study commissioned by Wunderman found, 79% of consumers say brands must actively demonstrate “they understand and care about me” before they consider purchasing. And 89% say that they are loyal to brands that “share my values.” As we see more desire for environmental stewardship and compassionate, people-focused policies, it’s no surprise we see more support for brands that embody these values.
We’ve always believed that businesses shouldn’t exist to make a profit; they make a profit in order to exist and fulfill their true mission. That statement may go further than most corporate chief executives are willing to go — despite any b.s. marketing veneer they try to slap on top of their brand — but we see more and more organizations with this authentic mindset finding true success.
As for the BRINK mission? We use design and technology to elevate our clients, communities, and culture. In pursuing this mission, we’ve helped many of our clients crystalize their own purpose and design a brand experience around it. Not only has this been deeply fulfilling work for all of us, it has shown positive business results for both our clients and us.
So we ask: can you articulate your organization’s purpose? And more importantly, do your stakeholders think and feel the same way you do? If not, it’s time to re-prioritize.
A great starting point is grabbing the book Conscious Capitalism at a local bookstore near you. And when you’re ready, hit us up.