Updated: Mar 27, 2019
EMBRACE VIRTUES. LEVERAGE PURPOSE. POWER PROFITS.
Capitalism remains the most proficient wealth creation machine we have ever known. Lately, however, we have been shaken by capitalism’s propensity for wild hubris and excesses – fees for no service by banks, widening gulf between the median pay of CEOs to workers, deficits in governance, sexual harassment scandals to name a few. It appears while the cake has grown, fewer and fewer people are eating it. Many people feel frustrated that economic gains have failed to improve their lives, address social problems, support political stability, or mitigate technology’s unintended consequences.
The rising tides of discontent is leading to a profound shift facing business leaders: the rapid rise of social enterprise . An enterprise whose success is measured, both in terms of growing economic results (profit) and improving social capital (benefit to communities in which it operates in).
In this emerging ‘Social era’, the future of organisational success is predicated on the increasing importance of the need to stand for something, an organisation’s clear reason for being, it’s purpose. If purpose is clear, then it will help people and communities to build affinity to your brand, amplifying profits for the organisation and creating value to society.
The purpose will become the lens through which trusted relationships are built and sustained in the long term.
Purpose lead companies deliver measurable results. In Organisations with strong purpose, employees are 3x more likely to stay and remain engaged, 72% of global consumers would recommend a company with a purpose; firms with a well-defined purpose outperformed their competitors by up to 38 per cent. It proves, it is indeed possible to have superior profits and social value in capitalistic societies.
Overwhelming research from academia and my own experience in working with these high performing, purpose lead companies is that they all share a particular brand of leaders, who effectively align purpose with profit:
1. They stand for something. They are not only visionary, they also stand for something (courageous), empowering all around them to achieve personal excellence.
2. They are comfortable in their own skin – They know their self well and are comfortable with it. Whilst they may enjoy the external trappings of success – money, power and prestige – they don’t rely on external gratification for self worth, but remain steadfast to their internal core values.
3. They embrace clear set of virtues, embodying strong ethical character, cultivating power to unite people of different views, help employees to feel that they are better versions of themselves, galvanising around belief and respect rather than overt authority.
So how do you become a future leader who is effective in a purpose lead profitable social enterprise? How do you discover your ‘best self’? What is your purpose so you can lead others based on values and respect rather than overt authority? What are the virtues to rise and thrive? Once you discover it all, how will you sustain it?
All the answers are within you.
In my book my book Rise Warrior Rise, I will show you frameworks for abundance of inner strength. A combination of cutting edge science, infusion of eastern and western philosophies, rituals and practices that can be easily implemented any time any where.
If you prefer, I can personally guide you in our course Virtuous, framework to live and lead ethically: Stand for something.
2018 Global Human Capital Trends Report, Delloite
The energy project, What is your quality of life at work, 2013, ‘Winning with purpose’ EY 2016
Edelman, The good purpose Study, 2013, ‘Winning with purpose’ EY 2016
University of Queensland study, 2016, INTHEBACK magazine, CPA 2017