Several years ago, Pepsico introduced a concept called “Performance with Purpose” in its global society. He was the son of the current CEO of ingredient. The change aims to ensure the long-term success of the company and the sustainability of the grain. Keep in mind that Pepsico is a beverage company and it was important for its brand to position itself for sustainable water management.
In other words, integrating business performance into a higher goal has made its results clear.
Flash years later, and I think we are nearing a turning point and more businessmen are receiving the memo.
If you do not know my background, I’ve been in a business for a long time. I started at the age of 15 as a retailer in a retail store. I climbed the ladder and became the supreme leader of two international shoe factories. So, after the Indian Ocean tsunami in 2004, I set up a nonprofit organization and raised its budget to more than $ 70 million (which was just a small percentage of the charity). I then returned to the for-profit world as an entrepreneur with multiple companies and brands, including social enterprises.
Why do I emphasize all these experiences?
I assert that I am in the profitable and non-profit sector of the business world and I understand that we are both now, where the patterns and the way we do the past are no longer the ways of the future. I said it in the nonprofit sector, but the for-profit companies have to hear the same message.
Two motives motivate today’s teams, and I see it in my group:
In the past, workers wanted to work for successful companies, and everything was at work, namely, profit and success. That is no longer the case. In my view, I found out that the team members wanted to reach and work for a high-performance company, but were aware of their relationship with the community and maybe the world in general.
Do you want to know the secret that I discovered a long time ago?
Purpose stimulates performance.
Not long ago, in an article titled “The ultimate business goal has changed.”
The answer to this question has changed: For decades, most executives have stated that their mission is to maximize the profits of shareholders and homeowners. Country. The most common answer is that the ultimate goal of a society is to serve society and make the world a better place.
Almost everyone from Washington to the US on Main Street speaks of “Leading with Purpose.” ”
I can not agree with that, and if you’ve been in the business for a long time, you know that the industry has changed radically. At the end of 2016, the Korn Ferry Institute completed a study that found that companies that have a bigger target in their business have annual growth rates that are almost three times higher than in other industries in their industry. ,
The study also found that 90 percent of people who work in companies that have a goal in their hearts feel committed to their work. In comparison, only 32% felt committed to organizations that had no meaning beyond profit.
As an entrepreneur, I’ve seen the impact on my business by combining performance and purpose. There is a shift in the opinion of the public (consumers and employees) that companies not only have to earn money, but have to be socially responsible and have a deeper impact on society and accelerating reflection. If you are looking for a key competitive advantage for your business in your industry, consider this formula.
Achievement + purpose = profit
Author of “Your Father’s Charity: Grip & Rip Leadership for Social Impact” (free digital download available at http://notyourfatherscharity.com/free-resources/)