Business for Purpose Network (B4PN) Weekly Announcement
Update #11 — February 5, 2021
The Business for Purpose Network (B4PN) is an initiative catalyzed by the JW McConnell Family Foundation and the MaRS Discovery District. Contact Allyson Hewitt, VP Impact at MaRS for more information or to join our mailing list ahewitt@marsdd.com with a DM that indicates your preferred email or to unsubscribe.
1.0 PRACTICAL ADVICE. HRB.org Changing Company Culture Requires a Movement, Not a Mandate. Bryan Walker of IDEO and Sarah Soule of Stanford bring together a few of our favourite things: learning from social movements; organizational culture change; and company purpose.
“A good organizational purpose calls for the pursuit of greatness in service of others. It asks for employees to be driven by more than personal gain. It gives meaning to work, conjures individual emotion and incites collective action”.
And what are the key learnings from movements? 1) frame the issue 2) demonstrate quick wins 3) harness networks 4) create safe spaces 5) embrace symbols and 6) the embrace the challenge of leadership by focusing on action.
2.0 B4PN MEMBER NEWS.
2.1 MaRS. You are cordially invited to attend the Mission from MaRS: Climate Impact Challenge Kick-off. Wednesday February 10, 2021 11:00 am to noon EST. Registration is free.
Tackling the climate crisis requires an all hands-on deck approach so MaRS is seeking the best Canadian climate-tech ventures with the greatest potential for GHC reduction and commercialization. Want to know more? Please see this press release, this MaRS Magazine article and this op ed. If you interested in joining us on this Mission from MaRS? Please reach out to Allyson at ahewitt@marsdd.com
2.2 League of Intrapraneurs. Forbes. How The League of Intrapraneurs Is Helping Leaders in Corporate Life Do More Meaningful Work.
Author Afdhel Azis, Chief Purpose Office, Conspiracy of Love states “I kept trying to “smuggle in” more purposeful projects in the work I was doing, creating partnerships with nonprofits and trying to find ways to grow the brands I was working on in ways that were socially, financially and culturally impactful.”
Learn more about the League of Intrapraneurs and how you are not alone and hold June 7–11 for Global Intrapraneur Week! Thanks for the heads up Chryssa Koulis.
3.0 Weekly Announcements Follow Up Items.
3.1 Can’t get enough of the GameStop saga? Check out this podcast entitled: The GameStop Rebellion. And as expected, the episode contains “strong language” Thanks Kathleen Gnocato for the referral.
3.2 Corporate Knights Rankings. Three in a Row: Ørsted Again Ranked World’s Most Sustainable Energy Company. Corporate Knights names Ørsted the most sustainable energy company and second-most sustainable company across sectors in the 2021 Global 100 index. The green energy major shares key learnings from its own transformation.
Speaking of Corporate Knights, they are inviting you to join them in an online consultation on the federal government’s pending budget.
3.3 Last week we told you about the Future of the Corporation — Purpose Summit Series led by The British Academy. It was great and there are so many great learnings from the event. We will watch the site for the time when the recordings are available but in the interim we encourage you to sign up for their mailing list.
A few takeaways from Professor Colin Mayer’s series summary:
· “Governments might provide a minimum floor and take on more of the burden of corporate restructurings and layoffs and in return business needs to ensure that it pays it fair share of taxes”.
· “Regulation should make it harder for companies to do the wrong things”.
· “There needs to be a new language around investment … in which investment is about stewardship and stewardship is about corporate purpose”
· “We need to be bold in promoting a just transition”.
· “There is no contradiction between societal benefit and the long term returns to shareholders.”
· “Purposeful businesses are inherently better businesses”
· “Corporate purpose is a moral obligation”
· “Together government, institutional investors and purposeful businesses can bring about the change our economies and societies so desperately require.”
4.0 Business Models. Forbes. From Cause Marketing To A Greater Mission: How Dove Created A Business Model On Purpose. “When thinking of brands that are doing good and being purposeful, many come to mind: Ben and Jerry’s, Bombas, MOD Pizza, Seventh Generation, Patagonia, Dairy Farmers of America … the list goes on and on. But why do these brands jump to the top? Because they live their purpose from the inside out and they act on their purpose consistently. “
