Purpose Beyond Profit: the business case
Purpose Beyond Profit: the business case sets out the commercial benefits for taking a purpose-led approach. The report looks at the foundations for purpose and how to put it into practice in your business.
Why take a purpose-led approach
Business in the Community (BITC) defines business purpose as “articulating why the business exists, beyond making a financial return, and how that benefits wider society.” A purpose-led business is one which states the positive difference it aims to make in the world, and ensures this is embedded in the organisation’s strategy and planning.
A purpose beyond profit is the foundation of a strong responsible business strategy. Purpose supports the positioning of responsible business within an organisational strategy, allowing a central focus to unite internal and external stakeholders.
Purpose Beyond Profit: the business case sets out the five main areas of opportunity when taking a purpose-led approach.
- Decision making
- Innovation
- Financial performance
- Attracting and retaining talent
- Stakeholder relations.
Download the report to learn more.
How to take a purpose-led approach
BITC’s member-only toolkit, Developing and Embedding Your Purpose shares practical steps businesses can take. It discusses the early stages of understanding and developing a purpose-led approach, through to longstanding and publicly recognised statements of purpose.
Purpose and values at Business in the Community
BITC is enabling purpose-led businesses and brands as a genuine force for positive change. Moving away from a do-less-harm approach, to creating competitive advantages, meeting changing customer needs, and attracting, retaining and developing the best talent.
Purpose and values is part of BITC’s Healthy Business focus, which sits at the centre of BITC’s Responsible Business Map. The map guides our members on a journey of continuous improvement, working across the whole responsible business agenda. Find out more about BITC’s Responsible Business Map.
A network of purpose-led businesses creating positive change.
