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
CANADIAN BUSINESS LEADERSHIP FORUM
INNOVATION CANADA:20 IDEAS THAT MATTER
WHAT’S GOING TO HELP YOUR BUSINESS
INNOVATE, WIN OVER NEW CUSTOMERS AND ATTRACT TOP TALENT?
PROFIT + PURPOSE
CAUSE IS A DIFFERENTIATOR
FOR YOUR BUSINESS
ESPECIALLY TRUE AMONG MILLENIALS WHO EXPECT IT
AND WILL RULE THE WORKFORCE (40% BY 2020)
I AM NOT TALKING ABOUT CHARITY
IT DOESN’T SCALE
CHARITY MAKES US FEEL GOOD BUT
ANNUAL CHARITABLE GIVING IN THE US IS ROUGHLY
$400 BILLION
COST TO EDUCATE K-12 ACROSS THE US FOR ONE YEAR
$500 BILLION
WHAT I’M TALKING ABOUT IS
SOCIAL IMPACT
THE SOLUTIONS TO THE WORLD’S PROBLEMS
MUST COME FROM BUSINESS
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
CONVENTION SAYS BUSINESS SHOULD GIVE BACK TO COMMUNITY
CONVENTION ALSO SAYS BUSINESS PROFITS
FROM CAUSING SOCIAL PROBLEMS
I AM TALKING ABOUT BUSINESS PROFITING FROM SOLVING SOCIAL PROBLEMS
“SHARED VALUE”
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
THERE IS A 5TH “P” IN MARKETING: PURPOSE
THE SUSTAINABILITY AGENDA IS ALIVE AND WELL (AND FINANCIALLY VIABLE)
IKEA AND ITS PEOPLE PLANET POSITIVE
WALMART IS THE BIGGEST SELLER OF ORGANICS
SO WHY DON’T WE APPLY
SUSTAINABILITY THINKING TO
COMMUNITY GIVING?
BECAUSE WE STILL HOLD TIGHT TO BELIEVING THAT CHARITABLE GIVING
MUST BE PURE
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
NOW IMAGINE IF WE REDEFINED “GOOD”
FUN
INNOVATIVE
SCALABLE
ORDINARY
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
IMAGINE IF BELL MADE MENTAL HEALTH NOT A CHARITABLE PLAY, BUT RATHER A
SHARED VALUE
IMAGINE IF WALMART TURNED THEIR “AT CASH” CHARITABLE PROGRAM INTO A
BUSINESS OPPORTUNUTY
IMAGINE IF C IBC LEVERAGED “RUN FOR THE CURE” INTO A BUSINESS
OPPORTUNITY TO ATTRACT FEMALE CONSUMERS
NOT POSSIBLE?
DON’T TAKE MY WORD FOR IT…
PATAGONIA’S RESPONSIBLE ECONOMY
GE ECOMAGINATION
TOMS SHOES
WARBY PARKER
UNILEVER’S SUSTAINABLE L IVING PLAN
DOVE’S REAL BEAUTY
LIFEBUOY SOAP
BUSINESS LEADERS THAT GET AHEAD OF THIS CURVE
HARNESSING PROFIT AND PURPOSE
GENERATING LARGE SCALE SOCIAL IMPACT
AND BOTTOM LINE BUSINESS RESULTS
WILL WIN…
NOW, DOESN’T THAT FEEL GOOD?
“BE THE CHANGE YOU WISH TO SELL
IN THE WORLD.”