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Driving profit and doing good: The transformational power of purpose
There is now ample evidence that organisational purpose can drive profits. It is therefore no surprise that businesses are increasingly seeing purpose transformation as a powerful way to improve their bottom line. But can purpose act as a business driver and do good at the same time? This paper explores the relationship between purpose and profit, the changing nature of competitive advantage and how purpose can act as a catalyst to sustainable market differentiation and growth. By taking a close look at the link between profit and societal good, the paper contrasts purpose-driven companies with a sector that is undergoing transformation. It argues that a purpose-driven culture can shape the very tissue that creates genuine and meaningful differentiation. A simple model offers a starting point for any company looking to more closely align purpose and profit.
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Markus Kramer is Managing Partner at Brand Affairs and advises boards, executives, private equity and growth funds on purpose transformation, all aspects of strategic positioning and 21st century brand management. He works with many companies, including Harley-Davidson, DHL, Pfizer and asset managers and government bodies. Markus is Associate Professor of Brand Management at Cass Business School in London, author of The Guiding Purpose Strategy, A Navigational Code for Brand Growth and co-founder of the H&K Responsible Investment Brand Index (RIBI™). He holds degrees in Marketing & Brand Management from the University of California in Berkeley, USA, an MBA from the University of Oxford, UK, and a certificate in Future of Commerce from MIT, USA.