According to a survey published in the magazine Fortune in the year 2019, 44% of the CEOs consulted stated that their companies should actively seek to resolve social issues as part of their strategies. Purpose was already having a greater relevance in the last few years, but now it is more important than ever. The pandemic is putting to the test the humanity and the values of organizations.
“This situation has offered companies and their managers an opportunity to be surprised with what already existed. Exemplary attitudes have been uncovered in people who had not had the opportunity to prove themselves before; people have now been valued who before were invisible and have now become indispensable and of critical importance in the present situation, as well as, revindicating values that already existed and that have become essential in the present situation”, states Fernando Iglesias, CEO of Madavi.
In effect, Madavi interviewed 67 mangers and all coincided in stating that the pandemic had highlighted values such as generosity, solidarity, collaboration and initiative.
Having to both reflect and do has led to having an inventary of strengths that has made us more powerful. In this sense, these managers state that having had to think about what they have lived through during the disruption has allowed them to have perspective regarding themselves, their companies and their possibilities.
The Covid-19 crisis and the economy that will follow it will strengthen the transition that was already happening in the way that organizations have to think: more than just carrying out a profitable economic activity, they should also generate a positive impact on all of their interested groups.
The mangers not only need to take advantage of all that they have learned to face the new reality, but also the opportunity of exercising a social leadership in order to contribute to the reconstruction of society.
One idea seems to be clear: society is not going to bet on organizations that are not up to meeting the circumstances. People and companies will remember who was by their side when they needed help.
Indeed, in in the last months we have seen many outstanding examples of companies that have contributed to the common good with different social initiatives. From now on their strategies will have to contemplate the new problems that society will face, and to whose mitigation companies could contribute not only through social works but also through the design of new business models.
As a result, companies find themselves at a propitious moment to redefine their entrepreneurial purpose and decide what role they want to play in the context of post COVID-19. This is the time that they have to put themselves to the test
It really makes us different
Purpose is the reason why companies exist beyond simply making money, with an idea more centered on people and committed to society. Why does my company exist? How do we contribute to social, economic, and environmental development?
Corporative purpose has to be more than some printed phrases. In moments of uncertainty and change such as we are living now it is essential to that companies explain to both society and their employees what is their purpose and what are the values in each action that they take.
Purpose has a tangible part, which is what we do but there also exits what for and how we do it. This latter point is what really distinguishes us from the rest. And in this effort every interested party has to be involved, from the shareholders to the employees.
Do Good To Do Well. The more I grow the better for the world and that which surrounds me and that is why I grow. It is the balance between the triple profit and loss account: Planet, People and Profit.
Our purpose is to make a more appreciative world and to achieve that the paradigm of natural growth be that all the activities that your company carries out will make the world and society grow. If what you touch grows, then you grow.
What is more, we offer our strengths, our energy and our talent to organizations without the profit motive whom we love and who are aligned with our purpose of Do Good To Do Well. Here is where we tell you.