Purpose is the linchpin of corporate strategy
A company that defines its purpose defines an action plan. Everything flows from there - what it does, why it does it and who it hires. It goes beyond profits.
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FOR more than three decades, the business world has been in agreement with Nobel prize winning economist Milton Friedman, who argued that there's only one social responsibility of business: to use its resources and engage in the activities which increase profits, so long as it stays in the radius of the playing field.
However, since the financial crisis, the world of business is not working as it should, vividly showcased with slow growth, climate change, inequality and social injustice. Consequently, by trying to make the world a better place, how do companies balance between trends and growth?
COMPANIES MUST BECOME PROACTIVE
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