Purpose Blog
The “Purpose” pillar is as equally important as the additional four pillars that help to lead a successful and sustainable business. A purpose is the reason as to why something is created, and/or, why it is created that way. This pillar defines the importance of ‘embedding an actual purpose to your company and deliver value’ as stated in an exhibit provided by McKinsey Quarterly (McKinsey & Company, 2020). Furthermore, this statement is concluded within the ‘5Ps’ which are as follows: portfolio strategy and products, people and culture, processes and systems, performance metrics, and positions and engagements (McKinsey & Company, 2020). These elements should vibrate among viewers and members of the business.

Brand philosophy is the set of values and principles that project the organisations’ factors. This enables consumers to comprehend exactly what they are in for and what they can expect from the company. Following this, employees should also be allowed to recognise these values, as a report, by The Harris Poll, states that 84 percent of employers will only work at Purpose-driven companies/brands (Sustainable Brands, 2022).
“Corporate social responsibility (CSR) refers to companies taking responsibility for their impact on society” – as stated by the European Commission (Londrigan and Jenkins, 2018). CSR provoked an interest in the 1950s when several businesses began to discuss appropriate practices within their organisations. In 1996 an article published by The New York Times caused a protest when Stephanie Strom “bought Kathie Lee Labels to task for having a clothing line that was being manufactured by thirteen- and fourteen-year-olds in Honduras” (Londrigan and Jenkins, 2018). This highly demonstrates why it is a must for businesses to be mindful of their vision and value proposition.
Gen Z, the most diverse generation of all, is always on the look for limitless potential which is making it more difficult for brands to reach them. A study found that 64 percent of Millennials won’t take a job if their employee doesn’t have a strong CSR policy (Cone Company, 2020). It is vital for Gen Z to be able to experience much more than just a salary from a job. Moreover, a possible way for companies to communicate their purpose is through social media. Gen Z are full of creativity and freedom, so if an authentic ad shows up on their screens, they wouldn’t hesitate to look further into it.
Reference List:
http://conecomm.com/2016-millennial-employee-engagement-study/
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