Socialsuite recently sat down with Purpose Expert, Phil Preston to have a detailed discussion surrounding the first indicator in the universal World Economic Forum’s ESG framework: Setting Purpose.
Here are the 5 key insights we learnt from our conversation with Phil:
- Philanthropy and Corporate Social Responsibility are good. However, they're not necessarily resourced well enough to really drive the change we need today.
- A good purpose statement describes why you exist, and the promise you make to your customers about solving their problems and improving their lives.
- An ideal vision statement is a representation of the world you’re trying to create as a result of your purpose.
- Your purpose statement requires buy-in across the business, and it should play a key role in your decision making.
- A good purpose statement is outcome orientated, easily communicated, well-scoped, inspiring for employees and long lasting.
Corporate Purpose is a journey in itself, and a good purpose statement is ever-evolving. Is your organization’s purpose linked to a societal benefit? Let us know on LinkedIn. If it’s not - contact our team for help with getting started.
You can view our full conversation with Phil on our YouTube channel.
Over 90 public companies and 70 non-profit organizations use Socialsuite for tracking and reporting on their impact. With the help of our ESG software and expert team, businesses can easily get started on impact reporting, disclose faster, and save money compared to traditional methods. Whether you're new to impact reporting or looking to enhance your current practices, Socialsuite offers the tools and expertise needed to achieve your sustainability goals. Contact us to learn more about our solutions.
