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As companies become purpose-led, where does that leave charities?

Empathy

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.

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IDEA EXTRACTED FROM:

As companies become purpose-led, where does that leave charities?

As companies become purpose-led, where does that leave charities?

https://www.fastcompany.com/90218324/as-companies-become-purpose-led-where-does-that-leave-charities

fastcompany.com

7

Key Ideas

Larry Fink

Larry Fink

“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.”

Human Well-being 

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.

A crucial Alliance

To make real progress, governments, civil society, companies, and charities must come together and form an alliance.

The new skills required

As companies work towards their purpose, these are new skills they need to learn:

  • Empathy
  • Global movement
  • Employee orientation towards meaningful work.

Empathy

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.

Global Movement

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.

Helping Employees find meaning

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.

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