Why it is so important to be clear about the purpose of your business
A purpose-driven company is as much about protecting your bottom line as it is about growing it
It is notoriously difficult for firms to balance financial goals and social responsibility. In a world where social media has made firms immediately answerable to the public for both their product and their processes it is more important than ever for companies to have a purpose — and to make that purpose known. This has given rise to the concept of a purpose-driven business, a relatively simple concept that can fundamentally change the way your business performs. Traditionally businesses were ultimately responsible to their shareholders with the role of the consumer or client only being important in so much as their tastes and opinions affected their sales. Public opinion was relatively easily controlled through marketing and media relations and any unsavory business activity was outsourced or sent off-shore where it could be more easily hidden from prying eyes. But over the last decade all of this has changed. Rapid globalisation and digitalisation has given customers and sharehol...
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