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• confidence — delivering digital skills training .
By leveraging your business ’ s unique expertise and resources , you can do well and do good at the same time , unlocking true value and creating social impact as part of your usual business operations .
Innovating to create solutions , not problems
As experts Colin Mayer and Bruno Roche puts forth in their book
Putting Purpose into Practice : The Economics of Mutuality , “ the purpose of business is to create profitable solutions to the problems of people and planet . It is not to profit by creating problems for people and planet .”
So far , we have seen too many cases of the latter : manufacturers dumping toxic wastewater into rivers and oceans , factory workers clocking long hours in unsanitary and unsafe conditions . The list goes on . Planned obsolescence and hyper consumerism have also pushed us towards a “ buy , buy , buy ” throwaway lifestyle that is wasteful and unsustainable .
Unilever , a top proponent of corporate purpose , is challenging these practices . Guided by its purpose to “ make sustainable living commonplace ”, the consumer goods giant launched the Unilever Sustainable Living Plan ten years ago . It has since improved the health and well-being of 1.3 billion people , as well as significantly reduced the carbon emissions , water abstraction and waste through its products ’ life cycles . It has also enhanced the livelihoods of women , smallholder farmers and retailers all around the world .
Driving inclusivity in the business ecosystem
Taking a step back , how did the misconception that businesses exist solely to make profit even begin ? 50 years ago , economist Milton Friedman proclaimed that a firm ’ s sole responsibility is to serve the interests of its masters : maximising shareholder returns .
What the Friedman doctrine failed
to account for is that shareholders are not the only stakeholders of the company . Companies are staffed by employees , procure resources from suppliers and the environment , provide goods and services to customers , establish ties with governments and other businesses , as well as operate within communities .
Similar to natural ecosystems , the actions of each member have an impact on the rest , which ultimately affects the health and value of the whole . And so , 181 CEOs declared in
the 2019 Business Roundtable Statement that “ the purpose of a company is to serve all its stakeholders ”.
MAKING A POSITIVE IMPACT :
WHAT MAKES A PURPOSEFUL BUSINESS ?