why shouldn't business profit by doing good?
DESCRIPTION
In this presentation at the Canadian Business Leadership Forum I make the case for businesses to profit by doing good. To evolve from charity/philanthropy to social impact by driving bottom line results.TRANSCRIPT
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CANADIAN BUSINESS LEADERSHIP FORUM
INNOVATION CANADA:20 IDEAS THAT MATTER
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WHAT’S GOING TO HELP YOUR BUSINESS
INNOVATE, WIN OVER NEW CUSTOMERS AND ATTRACT TOP TALENT?
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PROFIT + PURPOSE
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CAUSE IS A DIFFERENTIATOR
FOR YOUR BUSINESS
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ESPECIALLY TRUE AMONG MILLENIALS WHO EXPECT IT
AND WILL RULE THE WORKFORCE (40% BY 2020)
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I AM NOT TALKING ABOUT CHARITY
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IT DOESN’T SCALE
CHARITY MAKES US FEEL GOOD BUT
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ANNUAL CHARITABLE GIVING IN THE US IS ROUGHLY
$400 BILLION
COST TO EDUCATE K-12 ACROSS THE US FOR ONE YEAR
$500 BILLION
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WHAT I’M TALKING ABOUT IS
SOCIAL IMPACT
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THE SOLUTIONS TO THE WORLD’S PROBLEMS
MUST COME FROM BUSINESS
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IN U.S. TOTAL REVENUE GENERATED BY SECTOR
CORPORATIONS $20 .1 t r i l l i on
GOVERNMENT $3 .1 t r i l l i on
NON PROFIT $1 .2 t r i l l i on
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CONVENTION SAYS BUSINESS SHOULD GIVE BACK TO COMMUNITY
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CONVENTION ALSO SAYS BUSINESS PROFITS
FROM CAUSING SOCIAL PROBLEMS
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I AM TALKING ABOUT BUSINESS PROFITING FROM SOLVING SOCIAL PROBLEMS
“SHARED VALUE”
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THIS IS NOT A “NICE TO DO”IT IS A NEED TO DO
MOST PEOPLE WOULDN’T CARE IF 73% OF BRANDS
DISAPPEARED OVERNIGHT- H A V A S 2 0 1 3 M E A N I N G F U L B R A N D S S U R V E Y
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THERE IS A 5TH “P” IN MARKETING: PURPOSE
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THE SUSTAINABILITY AGENDA IS ALIVE AND WELL (AND FINANCIALLY VIABLE)
IKEA AND ITS PEOPLE PLANET POSITIVE
WALMART IS THE BIGGEST SELLER OF ORGANICS
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SO WHY DON’T WE APPLY
SUSTAINABILITY THINKING TO
COMMUNITY GIVING?
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BECAUSE WE STILL HOLD TIGHT TO BELIEVING THAT CHARITABLE GIVING
MUST BE PURE
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WE GIVE BACK BECAUSE:
IT ’S THE RIGHT THING TO DO
IT’S THE WAY TO BEHAVE AS A GOOD CORPORATE CIT IZEN
AND MAYBE ( JUST MAYBE) TO OFFSET SOME OF THE BAD THAT WE DO
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NOW IMAGINE IF WE REDEFINED “GOOD”
FUN
INNOVATIVE
SCALABLE
ORDINARY
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WOULD ENABLE BUSINESS TO START ASKING HOW SOCIAL IMPACT COULD:
ACT AS A DIFFERENTIATOR
BE AN ACQUISIT ION AND RETENTION TOOL
GENERATE SALES
DRIVE LOYALTY
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IMAGINE IF BELL MADE MENTAL HEALTH NOT A CHARITABLE PLAY, BUT RATHER A
SHARED VALUE
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IMAGINE IF WALMART TURNED THEIR “AT CASH” CHARITABLE PROGRAM INTO A
BUSINESS OPPORTUNUTY
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IMAGINE IF C IBC LEVERAGED “RUN FOR THE CURE” INTO A BUSINESS
OPPORTUNITY TO ATTRACT FEMALE CONSUMERS
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NOT POSSIBLE?
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DON’T TAKE MY WORD FOR IT…
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PATAGONIA’S RESPONSIBLE ECONOMY
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GE ECOMAGINATION
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TOMS SHOES
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WARBY PARKER
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UNILEVER’S SUSTAINABLE L IVING PLAN
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DOVE’S REAL BEAUTY
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LIFEBUOY SOAP
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BUSINESS LEADERS THAT GET AHEAD OF THIS CURVE
HARNESSING PROFIT AND PURPOSE
GENERATING LARGE SCALE SOCIAL IMPACT
AND BOTTOM LINE BUSINESS RESULTS
WILL WIN…
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NOW, DOESN’T THAT FEEL GOOD?
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“BE THE CHANGE YOU WISH TO SELL
IN THE WORLD.”