Socialsuite recently sat down with Purpose Expert, Phil Preston to have a detailed discussion surrounding the first indicator in the universal World Economic Forum’s ESG framework: Setting Purpose.
Here are the 5 key insights we learnt from our conversation with Phil:
- Philanthropy and Corporate Social Responsibility are good. However, they're not necessarily resourced well enough to really drive the change we need today.
- A good purpose statement describes why you exist, and the promise you make to your customers about solving their problems and improving their lives.
- An ideal vision statement is a representation of the world you’re trying to create as a result of your purpose.
- Your purpose statement requires buy-in across the business, and it should play a key role in your decision making.
- A good purpose statement is outcome orientated, easily communicated, well-scoped, inspiring for employees and long lasting.
Corporate Purpose is a journey in itself, and a good purpose statement is ever-evolving. Is your organization’s purpose linked to a societal benefit? Let us know on LinkedIn. If it’s not - contact our team for help with getting started.
You can view our full conversation with Phil on our YouTube channel.