The era of purpose-driven business is upon us: from investors to global brands to consumers and CEOs alike, seemingly everyone is talking about the importance of purpose in driving business strategy and societal well-being. How can organizations fully deliver on the promise of purpose, moving from inspirational vision to meaningful results?
The answer requires shared value—a strategic approach that aligns corporate capabilities and resources with areas of need, and engages the broader ecosystem of partners and stakeholders in shaping business solutions that produce both profit and positive social and environmental change. As global companies embrace and promote a purpose-driven culture, shared value thinking and practice provides visionary leaders with a framework to transform a culture focused on shareholder value to one that proactively leverages the innovation and collaboration needed to maximize business and societal impacts.
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