Purposeful Future
This week we have been busy attending events and summits - focused on social enterprise, impact, employment & skills, and growing the regional economy. Great work is being done and forward-looking enterprises are showing the way. Evidence and intuition are both pointing to a purposeful future and BSI has issued guidance/standards for creating Purpose-Driven Organizations (PAS 808) which is now being expanded around the world (to over 170 countries) as an ISO standard (ISO 37011).
Today, Larry Fink, the CEO of BlackRock, has also met with the UK Prime Minister and Chancellor. BlackRock has a large footprint in the UK and supports thousands of jobs across the country, and the insights provided to the British Government on how to put the UK on the world’s stage as a top investment destination and turbocharge growth will have been invaluable.
This will have undoubtedly included the requirements for investment and the future of enterprise ... and here's just a few things Larry Fink has said about the need to move to a purposeful future ...
- "Capital markets have allowed companies and countries to flourish. But access to capital is not a right. It is a privilege. And the duty to attract that capital in a responsible and sustainable way lies with you"
- "I am responsible for managing more schoolteachers' and firemen's money than anybody in the world. That's an enormous responsibility"
- "BlackRock wants to see the companies we invest in for our clients evolve and grow so that they generate attractive returns for decades to come"
- "Our conviction at BlackRock is that companies perform better when they are deliberate about their role in society and act in the interests of their employees, customers, communities, and their shareholders"
- "It’s never been more essential for CEOs to have a consistent voice, a clear purpose, a coherent strategy, and a long-term view. Your company’s purpose is its north star in this tumultuous environment"
- "Putting your company’s purpose at the foundation of your relationships with your stakeholders is critical to long-term success. Employees need to understand and connect with your purpose; and when they do, they can be your staunchest advocates. Customers want to see and hear what you stand for as they increasingly look to do business with companies that share their values. And shareholders need to understand the guiding principle driving your vision and mission. They will be more likely to support you in difficult moments if they have a clear understanding of your strategy and what is behind it"
- "Purpose is not a mere tagline or marketing campaign; it is a company's fundamental reason for being – what it does every day to create value for its stakeholders. Purpose is not the sole pursuit of profits but the animating force for achieving them"
- "Companies that fulfill their purpose and responsibilities to stakeholders reap rewards over the long-term. Companies that ignore them stumble and fail. This dynamic is becoming increasingly apparent as the public holds companies to more exacting standards. And it will continue to accelerate as millennials – who today represent 35 percent of the workforce – express new expectations of the companies they work for, buy from, and invest in"
We agree with what Larry Fink has said and at the meetings this week we have been suggesting the same too. We are at the forefront of the development/expansion of Purpose-Driven Practices, including:
- The development/expansion from the corporate world to SME's, not-for-profit organisations, communities and government (local, regional, national).
- The development from being ‘Purpose-Driven’ to embedding Purpose into the DNA and into every decision an organisation/community makes (ie from ‘Purpose’ to ‘Purposeful’).
- The development/integration into mainstream education, training and audit.
Purposeful Organizations† are centred around people and the wellbeing of staff, customers, suppliers, communities and the planet. They also focus on solving societal and ecological challenges and superpower motivation, innovation, wellbeing and growth. Purposeful Organizations can also provide an inspirational vision (e.g. for a Purposeful Britain†) and help create a thriving society & flourishing economy. We are proud to be part of this movement.
There is a great deal to do, and communities are relying on us all to do all the above both quickly and well, i.e. to be
purposeful. Great work has already been done, and much of what's needed is already starting to happen. To be purposeful we now need to join the dots, overcome systemic barriers to change, and deliver - so humanity can flourish today, tomorrow, and in the future.
David Clift
Purposeful Ambassador®
Co-founder, Purposeful Education
Founder, Good Turns & Purposeful Enterprises
Co-developer of Purposeful Britain and a Purposeful World
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© Good Turns 2024.
† Purposeful Organisations™, Purposeful Enterprise™, Purposeful Investors™, Purposeful Economics™, Purposeful Economy™, Purposeful Government™, Purposeful Council™, Purposeful Communities™, Purposeful Citizen™, Purposeful Ambassador™, Purposeful Britain™, Purposeful World™, Purpose Driven Government™, Purposeful™, Purposeful Education™, Good Points™, Values are Valued™ are all recognised/registered trademarks.
