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Driving profit and doing good: The transformational power of purpose

Author

Listed:
  • Kramer, Markus

    (Brand Affairs, Switzerland)

Abstract

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.

Suggested Citation

  • Kramer, Markus, 2020. "Driving profit and doing good: The transformational power of purpose," Journal of Brand Strategy, Henry Stewart Publications, vol. 9(3), pages 231-239, December.
    • Handle: RePEc:aza:jbs000:y:2020:v:9:i:3:p:231-239
    as

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    More about this item

    Keywords

    purpose; branding; growth; differentiation; transformation; strategy; culture; society;
    All these keywords.

    JEL classification:

    • M3 - Business Administration and Business Economics; Marketing; Accounting; Personnel Economics - - Marketing and Advertising

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