PROFIT AND PURPOSE – AN (IM)PERFECT MATCH?
What is business for? What role does and should business play in society? To what extent should it perform a public purpose alongside its commercial activities? How should the aspirations of humanity, as set out in the Sustainable Development Goals, be reflected in the objectives of business?
The rules for companies have changed. The focus is increasingly on their sustainable, social, and ecological impacts. The strategic orientation toward the so-called corporate purpose is decisive for profitable growth in the future. This currently results in a large number of questions for businesses: How do you find an inspiring and future-oriented corporate purpose, and how can it be aligned in such a way that it brings profitable growth and social responsibility in concert? The new 2019 edition of the Global Goals Yearbook offers answers to these crucial questions thanks to its consistent orientation toward the UN Sustainable Development Goals and a competent editorial board and author pool.
The driver of development is to a large extent competition for the best minds. But it is not only the human resources departments that are pushing the topic. Experts speak instead of “inclusive capitalism” and urge that all stakeholders be taken along, including boards of management, customers, and even fund managers. Responsible businesses have governance structures that monitor and advise on environmental, social, as well as financial issues. When leaders understand and thrive within the broader social and environmental con- texts in which their businesses operate, it signals to employees, investors, and key stakeholders just how important purpose really is.