Driving profit and doing good: The transformational power of purpose

Markus Kramer
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Markus Kramer: Brand Affairs, Switzerland

Journal of Brand Strategy, 2020, vol. 9, issue 3, 231-239

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.

Keywords: purpose; branding; growth; differentiation; transformation; strategy; culture; society (search for similar items in EconPapers)
JEL-codes: M3 (search for similar items in EconPapers)
Date: 2020
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Persistent link: https://EconPapers.repec.org/RePEc:aza:jbs000:y:2020:v:9:i:3:p:231-239

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