Purpose-led businesses have the ingredients to drive real social and environmental impact in 2021.
As we settle into the year, many businesses will continue to focus on maintaining and or rebuilding growth. At the same time, businesses have an opportunity to incorporate social and environmental impact into their operating model, while transforming strategy, culture and management towards a more purpose-driven approach.
You're probably already doing important things in your business to contribute to your community and the environment. As a nation, we're deeply connected to our environment and prefer to be kind in our communities. However, some businesses rely on one-off activities or a clutter of initiatives that address Corporate Social Responsibility (CSR) without connecting it to their deeper purpose.
If 2020 saw essential changes in your strategies, culture or operations, it makes sense to align them with your sustainability initiatives. Retrofitting at a later stage could bring into question how genuine and authentic your behaviours are.
To ensure simplicity and sustainability of CSR initiatives, businesses will need to truly embed their initiatives. Now is the time to see how your business can support, integrate and build initiatives to create real impact and growth. Ad-hoc or marketing-led activities will no longer cut it for CSR.
When you're clear about your purpose, you can set a powerful strategy to create positive social and environmental impact. Then, you'll win the support of new customers, communities and hopefully Mother Nature herself. As you think about your values and how you express these in daily operations, look for the social or environmental extension of these so that everything stays aligned.
Sustainable practices have been proven - over and over again - to drive more profitable, resilient and trusted businesses. We're not the only ones who want businesses to embrace the benefits of purpose-led strategies. From Harvard to Blackrock and among our favourite local brands, forecasters agree on these opportunities for 2021:
Customers will continue to demand that brands genuinely and authentically play their role in solving society's big issues.
The best talent will seek out those businesses who demonstrate their care for people and planet.
Brands who collaborate and innovate on impact will win a competitive advantage and increased market share.
Those brands who think beyond the bottom line will thrive.
At Tomorrow Inc, we help businesses uncover new growth opportunities through positive social and environmental activity. If you want to better leverage the good you're already doing or build it into your business strategy in an authentic way, let's talk.
"It's time to do today what we know tomorrow is demanding of us."