MORE IDEAS FROM THE ARTICLE
Normally, companies are spending top dollar in marketing and lobbying around economic agendas, to increase their profit share in the market.
They need to have a similar global movement towards social causes, using the resources they have, to have a real impact.
As companies strive to become more meaningful, purpose-led, sustainable and connected to human well-being, they are seeing increasing value among stakeholders and customers.
Companies usually look at what customers want or need.
They need to understand the feelings of the customers, their motivations and empathize with customers beyond the product, at a grassroots level.
“Without a sense of purpose, no company, either public or private, can achieve its full potential; it will ultimately lose the license to operate from key stakeholders.”
Good, purpose-led values that drive work in the charity sector needs to be cultivated at the workplace.
Corporates should unlock the purpose and motivation that a charity has, by making their employees find meaning in their work, and helping society, starting from their workforce.
As companies work towards their purpose, these are new skills they need to learn:
Because of the current pandemic, companies have had to re-evaluate their purpose. This is to say that smart companies apply the smart generosity concept, according to which employees and stakeholders come before the shareholders. It is worth mentioning that the central part in all this goes to the employees, as they are the ones ensuring the good functioning of the company.
The economy shut down almost overnight. But reopening it will not happen the same way. It may take months and possibly years to fully open, even under the most optimistic estimates.
Saying the economy should reopen gradually is more easily said than done. One business that could reopen may depend on other companies that are not allowed to reopen.
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