Social Impact News

What is a purpose-driven brand? A purpose-driven brand is a brand that is motivated by their core mission. The reason why they exist is to solve a problem or meet a need in society, and that purpose informs the brand's vision, mission, story, visual identity, decision-making, and more.

A groundbreaking global study analyzing the business value of brands having a well understood “Purpose” has revealed a strong business benefit to such purposeful brands and their companies, as consumers are four to six times more likely to buy from, trust, champion, and defend companies with a strong Purpose.

In 2022, consumers expect hybrid shopping experiences, sustainability, and purpose-driven brands.

Most women prefer investing in a way they think will help the environmental or do social good. Their enthusiasm could help them boost long-term wealth.

Where ‘Woke’ CEOs Are Falling Short - A fascinating article on stakeholder capitalism and the “metamorphosis of business”. Can CEOs run the world? And will the world allow them to? That has become a central question of our times, as leaders of big business step up to address some of society’s most pressing problems. Consider: • A majority of Fortune 500 CEOs, according to Fortune’s polling, have now committed to, or are planning to commit to, the U.N. goal of reaching net zero emissions by 2050 or sooner. Combating climate change, a complex undertaking once seen as primarily a government challenge, has moved solidly into the C-Suite...

The 2022 Edelman Trust Barometer is our 22nd annual trust and credibility survey. The survey was powered by Edelman Data & Intelligence (DxI) and consisted of 30-minute online interviews conducted between November 1 and November 24, 2021. Business’ societal role is here to stay! We see an even greater expectation of business to lead as trust in government continues to spiral. But this is not a job business can do on its own. Business must work with all institutions to foster innovation and drive impact. Vicious cycle of distrust fueled by government and media! We find a world ensnared in a vicious cycle of distrust, fueled by a growing lack of faith in media and government. Through disinformation and division, these two institutions are feeding the cycle and exploiting it for commercial and political gain.

When my partners and I founded BlackRock as a startup 34 years ago, I had no experience running a company. Over the past three decades, I’ve had the opportunity to talk with countless CEOs and to learn what distinguishes truly great companies. Time and again, what they all share is that they have a clear sense of purpose; consistent values; and, crucially, they recognize the importance of engaging with and delivering for their key stakeholders. This is the foundation of stakeholder capitalism. Stakeholder capitalism is not about politics. It is not a social or ideological agenda. It is not “woke.” It is capitalism, driven by mutually beneficial relationships between you and the employees, customers, suppliers, and communities your company relies on to prosper. This is the power of capitalism. In today’s globally interconnected world, a company must create value for and be valued by its full range of stakeholders in order to deliver long-term value for its shareholders. It is through effective stakeholder capitalism that capital is efficiently allocated, companies achieve durable profitability, and value is created and sustained over the long-term. Make no mistake, the fair pursuit of profit is still what animates markets; and long-term profitability is the measure by which markets will ultimately determine your company’s success.

Peri Bolts has a background in business operations, most notably working for Starbucks for nearly a decade. Despite her passion for operations and leadership, she was feeling unfulfilled by corporate life and “not being plugged into the community.” Ani Trejo Barrington has a master’s degree in divinity and thought the ministry would be her path forever. But after a move to Colorado Springs and the birth of her first baby, she found herself looking for another career. Ani soon launched a small vintage business and found herself offering her wares at a pop-up shop called Womxn of the Future.

James Proby describes his road to The Men’s Exchange as long, winding, and diverse, peppered with an array of jobs, but his passion for what he does is evident. He first recognized this particular need while working in employment services. “Every community in America,” he says, “has a way for women to get dressed professionally, yet those same resources don’t exist for men. So, if I were working with a graduating student or a transitioning vet or somebody who’s come out of homelessness, and we’re trying to get them dressed for a professional interview, there’s no place that we can refer them to.”

Larger lessons: “Now more than ever,” Jonathan says, “you vote with your wallet. There are a lot of really good companies that are doing some pretty incredible things, and there are some companies that are doing some not so good things. But if you aren’t checking, if you’re not paying attention, then your dollar is saying you agree with whatever they’re doing. Do your homework and buy from companies that you believe in. Younger generations are hardwired for this stuff. They don’t know what it’s called. They don’t know what the language is. But this is absolutely how they think.”

We need to unleash the power of purpose-driven organizations to build a better economy. By strengthening the supportive ecosystem for this 4th sector, we can rise to the challenge that the COVID-19 crisis has created to build a more resilient, inclusive, and sustainable world.

Global Study Reveals Consumers Are Four To Six Times More Likely To Purchase, Protect And Champion Purpose-Driven Companies After evaluating over 75 brands, our research found that global consumers are four to six times more likely to trust, buy, champion and protect those companies with a strong purpose over those with a weaker one. The study reveals that when consumers think a brand has a strong Purpose, they are:  • 4 times more likely to purchase from the company  • 6 times more likely to protect the company in the event of a misstep or public criticism  • 4.5 times more likely to champion the company and recommend it to friends and family  • 4.1 times more likely to trust the company 

The business case for wanting to make a difference.